Kaynes SemiCon, a 100 subsidiary of Kaynes Technology, is investing Rs 2,850 crore in a facility in Hyderabad for outsourced semiconductor assembly and testing( OSAT), with automatic test equipment( ATE) and a reliability testing line, chief executive Raghu Panicker said.

The groundbreaking ceremony for the facility that will have 13 lines for OSAT, and one each for ATE and reliability testing was held recently.

Kaynes SemiCon will also invest Rs. 83.28 crore in an exploration and development facility for silicon photonics for-packaged optics in Mysuru.

Parent Kaynes Technology is also making an investment of Rs 750 crore in Mysuru for a bare board printed circuit board factory. Mysuru-based Kaynes Technology has a manpower of 3,500 people and yearly earnings of Rs 1,665.71 crore, Panicker said.

Based on its closing stock price of Rs 2,479.80, up1.1, on the BSE Wednesday, the company that made an original public immolation last time had a request value of Rs 14,418 crore.

Kaynes is a 38- year-old electronics manufacturing services(EMS) company with manufacturing infrastructure in Mysuru, Bengaluru, Chennai, Pune, Manesar, and Parwanoo with service centers in Mumbai and Kochi.

In terms of approvals from the Ministry of Electronics and Information Technology for its OSAT facility in Hyderabad and the R&D center in Mysuru, Panicker said the company is a couple of months away.

For both projects, the respective state governments have given their approvals.

Telangana has given a 25 subsidy for the OSAT project, and a fresh 50 subsidy will be given by the central government when the approval comes through under the India Semiconductor Mission 10 billion incentive scheme.