Cyient Solutions & Systems

Domestic technology company Cyient has earmarked a USD 100 million investment for its newly carved out semiconductor business, a top official said on Tuesday. The Hyderabad-headquartered company is also looking at raising capital from an external investor by September and is in the process of appointing merchant bankers for the same, officials said. Without quantifying the amount that it is targeting to raise, its Executive Vice Chairman and Managing Director Krishna Bodanapu said the money will be deployed for the talent-intensive research and development efforts. Bodanapu said that the board has already committed USD 100 million for the new venture and it will also be looking to raise more resources from external investors. He said the company is targeting to offer customised silicon chip solutions to a variety of industries, both globally and domestically, including electric vehicles and discoms, which need smart meters. The demand is also very high for such solutions, and apar

Shares of Cyient and its subsidiary Cyient DLM hit their respective all-time highs on Tuesday as they rallied up to 19 per cent on the BSE in the intraday trade

Cyient DLM's key clients include Honeywell International, ABB, and Bharat Electronics

As part of the collaboration, Cyient will leverage a 5G core developed by IIT-Hyderabad for testing various digital use cases and interoperability with components

The joint venture underlines the commitment of both partners to the government's 'Make in India' initiative