Joint Venture18 Sept 2025, 12:38 pm
Kernex Microsystems India Ltd Enters 80-20 Joint Venture with Venkata Rami Reddy Constructions
AI Summary
Kernex Microsystems India Ltd has entered into a joint venture agreement with M/s. Venkata Rami Reddy Constructions (VRRC). The joint venture is for the upgradation of Kavach Version 3.2 to 4.0 in Sadashivpet Road (Excluding) - Bidar - Parli Vaijnath Parbhani (Excluding) Section of South Central Railway and for execution of future projects. Kernex Microsystems (India) Limited will hold an 80% share, and Venkata Rami Reddy Constructions will hold 20%. The sharing ratio is subject to change based on the scope of future projects awarded under the joint venture. No shares are being issued to Venkata Rami Reddy Constructions, and they have not insisted on the appointment of Nominee Directors.
Key Highlights
- Kernex Microsystems India Ltd has entered a joint venture agreement with Venkata Rami Reddy Constructions.
- The joint venture is for the upgradation of Kavach Version 3.2 to 4.0 and execution of future projects.
- Kernex Microsystems (India) Limited will hold an 80% share, and Venkata Rami Reddy Constructions will hold 20%.
- The sharing ratio is subject to change based on the scope of future projects.
- No shares are being issued to Venkata Rami Reddy Constructions, and they have not insisted on the appointment of Nominee Directors.