Change

<input id="timepicker" />
<script>
$("#timepicker").kendoTimePicker({
    change: function() {
        var value = this.value();
/* The result can be observed in the DevTools(F12) console of the browser. */
        console.log(value); //value is the selected date in the timepicker
    }
});
</script>

<input id="timepicker" />
<script>
$("#timepicker").kendoTimePicker();

var timepicker = $("#timepicker").data("kendoTimePicker");

timepicker.bind("change", function() {
    var value = this.value();
/* The result can be observed in the DevTools(F12) console of the browser. */
    console.log(value); //value is the selected date in the timepicker
});
</script>