Bookbuilding IPO | ₹858 Cr | Listed at BSE, NSE | Thu, Nov 10, 2022 - Mon, Nov 14, 2022
Kaynes Technology IPO is a book build issue of ₹857.82 crores. The issue is a combination of fresh issue of 0.90 crore shares aggregating to ₹530.00 crores and offer for sale of 0.56 crore shares aggregating to ₹327.82 crores.
Kaynes Technology IPO bidding started from Nov 10, 2022 and ended on Nov 14, 2022. The allotment for Kaynes Technology IPO was finalized on Nov 17, 2022. The shares got listed on BSE, NSE on Nov 22, 2022.
Kaynes Technology IPO price band is set at ₹587 per share. The lot size for an application is 25. The minimum amount of investment required by an retail is ₹14,675 (25 shares) (based on upper price). The lot size investment for sNII is 14 lots (350 shares), amounting to ₹2,05,450, and for bNII, it is 69 lots (1,725 shares), amounting to ₹10,12,575.
The issue includes a reservation of up to 25,553 shares for employees offered at a discount of ₹0.00 to the issue price.
Dam Capital Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Kaynes Technology IPO RHP for detailed Information.
IPO Open
Thu, Nov 10, 2022
IPO Close
Mon, Nov 14, 2022
Issue Price
₹587 per share
Market Cap (Pre-IPO)
₹3,412.97 Cr
| IPO Date | 10 to 14 Nov, 2022 |
| Listed on | Tue, Nov 22, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹559 to ₹587 |
| Issue Price | ₹587 per share |
| Lot Size | 25 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,46,13,624 shares (agg. up to ₹858 Cr) |
| Fresh Issue | 90,28,960 shares (agg. up to ₹530 Cr) |
| Offer for Sale | 55,84,664 shares of ₹10 (agg. up to ₹328 Cr) |
| Share Holding Pre Issue | 4,91,13,536 shares |
| Share Holding Post Issue | 5,81,42,496 shares |
| BSE Script Code / NSE Symbol | 543664 / KAYNES |
| ISIN | INE918Z01012 |
Kaynes Technology IPO offers total 1,46,13,624 shares. Out of which 72,94,035 (49.91%) allocated to QIB, 29,17,614 (19.97%) allocated to QIB (Ex- Anchor), 21,88,211 (14.97%) allocated to NII 51,05,825 (34.94%) allocated to RII and 43,76,421 (29.95%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 72,94,035 (49.91%) | NA |
| − Anchor Investor Shares Offered | 43,76,421 (29.95%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 29,17,614 (19.97%) | NA |
| NII (HNI) Shares Offered | 21,88,211 (14.97%) | NA |
| − bNII > ₹10L | 14,58,807 (9.98%) | 4,168 |
| − sNII < ₹10L | 7,29,404 (4.99%) | 2,084 |
| Retail Shares Offered | 51,05,825 (34.94%) | 2,04,233 |
| Employee Shares Offered | 25,553 (0.17%) | NA |
| Total Shares Offered | 1,46,13,624 (100.00%) |
Investors can bid for a minimum of 25 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,675 |
| Retail (Max) | 13 | 325 | ₹1,90,775 |
| S-HNI (Min) | 14 | 350 | ₹2,05,450 |
| S-HNI (Max) | 68 | 1,700 | ₹9,97,900 |
| B-HNI (Min) | 69 | 1,725 | ₹10,12,575 |
Kaynes Technology IPO raises ₹256.90 crore from anchor investors. Kaynes Technology IPO Anchor bid date is November 9, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Nov 9, 2022 |
| Shares Offered | 43,76,421 |
| Anchor Portion (₹ Cr.) | 256.90 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Dec 17, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Feb 15, 2023 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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 | 30 Jun 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 763.26 | 622.42 | 419.37 | 378.12 |
| Total Income | 199.98 | 710.35 | 424.66 | 370.17 |
| Profit After Tax | 10.05 | 41.68 | 9.73 | 9.36 |
| NET Worth | 212.00 | 201.82 | 136.51 | 95.76 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Borrowing | 186.38 | 169.55 | 139.47 | 143.83 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ prepayment, in full or part, of certain borrowings availed by our Company | 130.00 |
| 2 | Funding capital expenditure towards expansion of our existing manufacturing facility at Mysuru, Karnataka, and near our existing manufacturing facility at Manesar, Haryana | 98.93 |
| 3 | Investment in our wholly owned Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka | 149.30 |
| 4 | Funding working capital requirements of our Company | 114.74 |
| 5 | General corporate purposes | 132.77 |
| KPI | |
|---|---|
| ROE | 24.5 |
| ROCE | 24.44 |
| Debt/Equity | 0.84 |
| RoNW | 20.54 |
| PAT Margin | 5.90% |
| EBITDA Margin | 13.26% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 9.70 | |
| P/E (x) | 84.95 | |
| Promoter Holding | 79.78% | 67.39% |
| Market Cap | ₹3,412.97 Cr. |
The Kaynes Technology IPO is subscribed 34.16 times on November 14, 2022 7:00:00 PM (Day 3). The public issue subscribed 4.1 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 98.47 | 29,23,888 | 28,79,18,550 |
| NII | 21.21 | 22,55,858 | 4,78,38,650 |
| bNII (bids above ₹10L) | 23.07 | 15,03,905 | 3,47,01,125 |
| sNII (bids below ₹10L) | 17.47 | 7,51,953 | 1,31,37,525 |
| Retail | 4.1 | 52,63,667 | 2,15,82,375 |
| Employee | 11.92 | 26,833 | 3,19,925 |
| Total | 34.16 | 1,04,70,246 | 35,76,59,500 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission, brokerage and selling commission) | 25.86 |
| 2 | Selling commission/processing fee for SCSBs, Banker(s) to the Offer, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by UPI Bidder, Brokerage and selling commission and bidding charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs | 4.42 |
| 3 | Fees payable to the Registrar to the Offer | 0.20 |
| 4 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and otherregulatory expenses | 5.00 |
| 5 | Printing and stationery expenses | 1.18 |
| 6 | Advertising and marketing expenses | 5.43 |
| 7 | Fees payable to legal counsels | 5.58 |
| 8 | Fees payable to auditors, chartered accountants,company secretaries and IPO coordinators | 4.93 |
| 9 | Fees payable to industry expert | 0.30 |
| 10 | Fees payable for Project Report | 0.24 |
| 11 | Miscellaneous | 1.66 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹587.00 | ₹587.00 |
| Open | ₹775.00 | ₹778.00 |
| Low | ₹675.00 | ₹675.10 |
| High | ₹787.00 | ₹786.00 |
| Last Trade | ₹690.10 | ₹689.95 |
Lead Manager Reports
Kaynes Technology IPO is a main-board IPO of 1,46,13,624 equity shares of the face value of ₹10 aggregating up to ₹858 Crores. The issue is priced at ₹587 per share. The minimum order quantity is 25.
The IPO opens on Thu, Nov 10, 2022, and closes on Mon, Nov 14, 2022.
MUFG Intime India Pvt.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 Thu, Nov 10, 2022 and closes on Mon, Nov 14, 2022.
Kaynes Technology IPO lot size is 25, and the minimum amount required for application is ₹14,675.
You can apply in Kaynes Technology IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Mon, Nov 21, 2022. Check the Kaynes Technology IPO allotment status.
The Kaynes Technology IPO listing date is on Tue, Nov 22, 2022.
