The success of Chandrayaan-3, India’s lunar exploration mission, not only marked a significant achievement for ISRO (Indian Space Research Organisation) but also had a transformative impact on the fortunes of individuals and businesses involved in the mission. Among those who experienced a substantial increase in wealth is Ramesh Kunhikannan, a 60-year-old engineer and the founder of Kaynes Technology.
Kaynes Technology, founded by Ramesh Kunhikannan in 1989, emerged as a crucial player in the Chandrayaan-3 mission by supplying key electrical components for the lander and rover. The successful soft landing on the moon’s south side not only contributed to India’s space exploration endeavors but also propelled Kunhikannan into the billionaire club.
With a net worth exceeding Rs 9,166 crore (1.1 billion dollars), Ramesh Kunhikannan’s journey from founding Kaynes Technology to becoming a billionaire is a testament to the intersection of technology, entrepreneurship, and India’s prowess in space exploration.
Kaynes Technology, initially established as a contract electronics manufacturer, diversified its operations over the years, venturing into multiple sectors, including automotive, aerospace, medical, and defense industries. The company, headquartered in Mysore, specializes in assembling printed circuit boards and has grown into a key player in the electronics manufacturing services industry.
Ramesh Kunhikannan, holding a bachelor’s degree in electrical engineering from the National Institute of Engineering, Mysore, took Kaynes Technology public in 2022. He currently owns a 64% stake in the company, which operates eight factories across India and supplies electronic components to 350 clients globally.
The value of Kaynes Technology’s shares witnessed a threefold increase since its debut on the stock exchange, and it experienced an additional 40% surge following its crucial role in the Chandrayaan-3 mission. The success of the mission not only elevated India’s standing in space exploration but also catalyzed the growth of businesses like Kaynes Technology.
Ramesh Kunhikannan’s journey, intertwined with India’s space exploration achievements, exemplifies the symbiotic relationship between technological advancements and entrepreneurial success. As Chandrayaan-3 opened new frontiers in lunar exploration, it concurrently paved the way for individuals like Ramesh Kunhikannan to reach new heights in the business world.