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Kaynes Technology IPO is a book built issue of Rs 857.82 crores. The issue comprises of fresh issue of Rs 530.00 crore and offer for sale of 0.56 crore shares.
Kaynes Technology IPO bidding started from November 10, 2022 and ended on November 14, 2022. The allotment for Kaynes Technology IPO was finalized on Thursday, November 17, 2022. The shares got listed on BSE, NSE on November 22, 2022.
Kaynes Technology IPO price band is set at ₹559 to ₹587 per share. The minimum lot size for an application is 25 Shares. The minimum amount of investment required by retail investors is ₹14,675. The minimum lot size investment for sNII is 14 lots (350 shares), amounting to ₹205,450, and for bNII, it is 69 lots (1,725 shares), amounting to ₹1,012,575.
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and Iifl Securities Ltd are the book running lead managers of the Kaynes Technology IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Kaynes Technology IPO RHP for detailed information.
| IPO Date | November 10, 2022 to November 14, 2022 |
| Listing Date | November 22, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹559 to ₹587 per share |
| Lot Size | 25 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹857.82 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹530.00 Cr) |
| Offer for Sale | 5,584,664 shares of ₹10 (aggregating up to ₹327.82 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Kaynes Technology IPO offers 10,470,246 shares. 2,923,888 (27.93%) to QIB, 2,255,858 (21.55%) to NII, 5,263,667 (50.27%) to RII, 26,833 (0.26%) to employees. 210,546 RIIs will receive minimum 25 shares and 2,148 (sNII) and 4,296 (bNII) will receive minimum 350 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 2,923,888 (27.93%) | NA |
| NII (HNI) Shares Offered | 2,255,858 (21.55%) | |
| bNII > ₹10L | 1,503,905 (14.36%) | 4,296 |
| sNII < ₹10L | 751,953 (7.18%) | 2,148 |
| Retail Shares Offered | 5,263,667 (50.27%) | 210,546 |
| Employee Shares Offered | 26,833 (0.26%) | NA |
| Total Shares Offered | 10,470,246 (100%) |
Kaynes Technology IPO opens on November 10, 2022, and closes on November 14, 2022.
| IPO Open Date | Thursday, November 10, 2022 |
| IPO Close Date | Monday, November 14, 2022 |
| Basis of Allotment | Thursday, November 17, 2022 |
| Initiation of Refunds | Friday, November 18, 2022 |
| Credit of Shares to Demat | Monday, November 21, 2022 |
| Listing Date | Tuesday, November 22, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 14, 2022 |
Investors can bid for a minimum of 25 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,675 |
| Retail (Max) | 13 | 325 | ₹190,775 |
| S-HNI (Min) | 14 | 350 | ₹205,450 |
| S-HNI (Max) | 68 | 1,700 | ₹997,900 |
| B-HNI (Min) | 69 | 1,725 | ₹1,012,575 |
| Lot Size Calculator | |||
Ramesh Kunhikannan, Savitha Ramesh and RK Family Trust are the company promoters.
| Share Holding Pre Issue | 79.78% |
| Share Holding Post Issue | 67.39% |
Incorporated in 2008, Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides conceptual design, process engineering, integrated manufacturing and life-cycle support for major players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things ("IoT"), Information Technology ("IT") and other segments.
The company is among the first companies in India to offer design-led electronics manufacturing to original equipment manufacturers ("OEMs").
The company's operations are classified under the following business verticals:
OEM - Turnkey Solutions - Box Build ("OEM - Box Build").
OEM - Turnkey Solutions - Printed Circuit Board Assemblies ("PCBAs") ("OEM - Turnkey Solutions").
ODM: The company offers ODM services in smart metering technology, smart street lighting, and brushless DC ("BLDC") technology.
Product Engineering and IoT Solutions: The company offer conceptual design and product engineering services in industrial and consumer segments.
Kaynes Technology operates eight manufacturing facilities across India in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand.
As of June 30, 2022, the company's research and development team comprised 19 employees, including engineers, designers and other workers.
In nine months ended June 30, 2022, The company served 229 customers in 21 countries globally and multiple industry verticals such as automotive, aerospace and defence, industrial, railways, medical and IT / ITES.
The company works with over 871 vendors and sources materials from various regions including North America, Europe, and Singapore as well as locally within India, As of June 30, 2022.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 378.12 | 370.17 | 9.36 | 95.76 | 143.83 |
| 31-Mar-21 | 419.37 | 424.66 | 9.73 | 136.51 | 139.47 |
| 31-Mar-22 | 622.42 | 710.35 | 41.68 | 201.82 | 169.55 |
| 30-Jun-22 | 763.26 | 199.98 | 10.05 | 212 | 186.38 |
| Amount in ₹ Crore | |||||
The market capitalization of Kaynes Technology IPO is Rs 3412.97 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 84.95 |
The company proposes to utilise the Net Proceeds towards funding the following objects:
1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
2. Funding capital expenditure towards expansion of the existing manufacturing facility at Mysore, Karnataka, and near the existing manufacturing facility at Manesar, Haryana.
3. Investment in the wholly owned Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka.
4. Funding working capital requirements of the Company.
5. General corporate purposes.
[Dilip Davda] KTIL has created a niche place in the segment and has good orders on hand. Based on its current financials though the issue appears fully priced, considering future prospects, well-informed investors may consider parking funds with medium to long-term perspectives. Read detail review...
The Kaynes Technology IPO is subscribed 34.16 times on November 14, 2022 7:00:00 PM. The public issue subscribed 4.10 times in the retail category, 98.47 times in the QIB category, and 21.21 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 98.47 |
| NII | 21.21 |
| bNII (bids above ₹10L) | 23.07 |
| sNII (bids below ₹10L) | 17.47 |
| Retail | 4.10 |
| Employee | 11.92 |
| Total | 34.16 |
| Listing Date | November 22, 2022 |
| BSE Script Code | 543664 |
| NSE Symbol | KAYNES |
| ISIN | INE918Z01012 |
| Final Issue Price | ₹587 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹587.00 |
| ₹775.00 |
| ₹675.00 |
| ₹787.00 |
| ₹690.10 |
| NSE |
|---|
| ₹587.00 |
| ₹778.00 |
| ₹675.10 |
| ₹786.00 |
| ₹689.95 |
Kaynes Technology India Ltd
23-25, Belagola,
Food Industrial Estate,
Metagalli P.O., Mysore – 570016,
Phone: +91 82125 82595
Email: kaynestechcs@kaynestechnology.net
Website: https://www.kaynestechnology.co.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: kaynes.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Kaynes Technology IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹857.82 Crores. The issue is priced at ₹559 to ₹587 per share. The minimum order quantity is 25 Shares.
The IPO opens on November 10, 2022, and closes on November 14, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Kaynes Technology IPO using UPI as a payment gateway. Zerodha customers can apply in Kaynes Technology IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Kaynes Technology IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Kaynes Technology IPO opens on November 10, 2022 and closes on November 14, 2022.
Kaynes Technology IPO lot size is 25 Shares, and the minimum amount required is ₹14,675.
You can apply in Kaynes Technology IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Kaynes Technology IPO will be done on Thursday, November 17, 2022, and the allotted shares will be credited to your demat account by Monday, November 21, 2022. Check the Kaynes Technology IPO allotment status.
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