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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 ₹587.00 per share . The lot size for an application is 25. The minimum amount of investment required by an retail is ₹13,975 (25 shares). 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 Date | November 10, 2022 to November 14, 2022 |
| Listing Date | November 22, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹559 to ₹587 per share |
| Issue Price Final | ₹587 per share |
| Lot Size | 25 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,46,13,624 shares (aggregating up to ₹857.82 Cr) |
| Fresh Issue | 90,28,960 shares (aggregating up to ₹530.00 Cr) |
| Offer for Sale | 55,84,664 shares of ₹10 (aggregating up to ₹327.82 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,91,13,536 shares |
| Share Holding Post Issue | 5,81,42,496 shares |
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, 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 | Maximum 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%) |
| 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 |
Kaynes Technology IPO raises ₹256.90 crore from anchor investors. Kaynes Technology IPO Anchor bid date is November 9, 2022. Kaynes Technology IPO Anchor Investors list
| Bid Date | November 9, 2022 |
| Shares Offered | 43,76,421 |
| Anchor Portion Size (In Cr.) | 256.90 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 17, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 15, 2023 |
Kaynes Technology IPO opens on November 10, 2022, and closes on November 14, 2022.
| IPO Open Date | Thu, Nov 10, 2022 |
| IPO Close Date | Mon, Nov 14, 2022 |
| Tentative Allotment | Thu, Nov 17, 2022 |
| Initiation of Refunds | Fri, Nov 18, 2022 |
| Credit of Shares to Demat | Mon, Nov 21, 2022 |
| Tentative Listing Date | Tue, Nov 22, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Nov 14, 2022 |
Investors can bid for a minimum of 25 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 ₹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...
| Listing Date | November 22, 2022 |
| BSE Script Code | 543664 |
| NSE Symbol | KAYNES |
| ISIN | INE918Z01012 |
| Final Issue Price | ₹587 per share |
| BSE Listing Group | B |
Kaynes Technology India Ltd.
23-25, Belagola,
Food Industrial Estate,
Metagalli P.O.,
Mysuru, Karnataka, 570016
Phone: +91 82125 82595
Email: kaynestechcs@kaynestechnology.net
Website: https://www.kaynestechnology.co.in/
MUFG Intime India Pvt.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 1,46,13,624 equity shares of the face value of ₹10 aggregating up to ₹857.82 Crores. The issue is priced at ₹587 per share. The minimum order quantity is 25.
The IPO opens on November 10, 2022, and closes on November 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 November 10, 2022 and closes on November 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 Monday, November 21, 2022. Check the Kaynes Technology IPO allotment status.
The Kaynes Technology IPO listing date is on Tuesday, November 22, 2022.
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