New Delhi, Sep 19 : Shares of Kaynes Technology slipped in Friday's trade after the company announced that its Chief Executive Officer (CEO) Rajesh Sharma has resigned.

The stock fell sharply by nearly 5 per cent in late morning deals on the National Stock Exchange (NSE) to hit an intra-day low of Rs 6,882.

However, it later recovered some losses and was last seen trading at Rs 7,074.50, still down over 2 per cent.

In a regulatory filing, the company said Sharma has decided to step down to pursue opportunities outside the organisation.

His resignation will take effect from the close of business hours on October 31, 2025.

Sharma, who joined Kaynes nearly four years ago, called his journey with the company 'very fulfilling, both professionally and personally'.

"My journey with Kaynes Technology, since my joining the company nearly 4 years ago, has been very fulfilling, both professionally and personally,' he said.

In his resignation letter, he highlighted key milestones during his tenure, including the successful IPO and public listing, expansion of manufacturing capacities, acquisitions in India and abroad, substantial revenue growth, and crossing a market capitalisation of over Rs 50,000 crore.

'This journey covered several major milestones for the Company from a successful IPO and consequential public listing to expanding manufacturing capacities,' Sharma wrote.

'At this juncture, I believe it is time for me to embark on a new professional journey to take up another exciting and challenging assignment,' Sharma added.

Kaynes Technology is an integrated electronics manufacturer that offers Internet of Things (IoT)-enabled solutions across industries such as automotive, aerospace and defence, medical, nuclear, and IT.

The company provides end-to-end services, including product design, process engineering, electronics manufacturing, and lifecycle support.

Despite Friday's fall, Kaynes shares have delivered strong returns to investors. The stock has surged nearly 54 per cent in the past six months, gained about 12.5 per cent in the last 30 days, and risen 30 per cent over the past year.

/IANS