Kaynes Technologies IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 15, 2022The IoT enabled integrated electronics manufacturer, Kaynes Technology India Limited is setting the market to mop up funds through an IPO.
The Kaynes Technology IPO consists of a fresh issue of Rs 650 crore and an offer for sale of 7.2 crore equity shares. The share sale is by a promoter and an existing shareholder of the company.
The IPO will also comprise of a reservation for the eligible employees of up to Rs. 1.5 crore and a pre-placement of shares of up to Rs. 130 crore.
Kaynes Technology IPO Review is a comprehensive collection of all the necessary elements that will drive your decision in regard to the IPO.
| Face Value | Rs 10 |
| Price Band | Rs. 559 to Rs. 587 per share |
| Listing At | BSE, NSE |
| Min. Order Quantity | 25 shares |
| Listing Date | Nov 22, 2022 |
| Offer for Sale | Rs.327.82 Crore |
| Fresh Issue | Rs.530 Crore |
| IPO Size | Rs.857.82 Crore |
| Tick Size | 1 |
Kaynes Technologies IPO Overview
The end-to-end and IoT solutions enabled integrated electronics manufacturer Kaynes Technology is ready to make its entrance to the stock exchange.
Through the Kaynes Technologies IPO, the company will garner funds to fund the capital expenditure, invest in its subsidiary, repay its debts, to execute the sale of shares by the shareholders.
The proceeds from the Offer for sale will be received by the selling promoter and selling shareholder. The company will receive the proceeds from the fresh issue.
Kaynes Technologies IPO Important Dates
| Events | Date |
| IPO Opening Date | Nov 10, 2022 |
| IPO Closing Date | Nov 14, 2022 |
| Basis of Allotment Finalization | Nov 17, 2022 |
| Refunds Initiation | Nov 18, 2022 |
| Credit of Shares to Demat Account | Nov 21, 2022 |
| Share Listing Date | Nov 22, 2022 |
Kaynes Technology has filed the Draft Red Herring Prospectus with the Capital Market Regulator, SEBI for seeking its approval. Once the company receives the SEBI nod, it will implement the IPO launch.
The Kaynes Technology IPO Dates are not yet declared by the company.
Kaynes Technologies IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs. 559 to Rs. 587 per share |
| Offer for Sale | Rs.327.82 Crore |
| Fresh Issue | Rs.530 Crore |
| IPO Size | Rs.857.82 Crore |
The face of Kaynes Technology shares is Rs. 10 each. The company will be offering its shares in two forms, by selling existing shares and by allotting new shares to its prospective shareholders.
The Kaynes Technology IPO Size and Kaynes Technology IPO Price will be determined through the book-building process in which the bidders will place their bids for the number of shares they want.
The bids will be within the price range as led out in the price band.
Kaynes Technologies IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 15 Nov 2022 | Rs. 130 | Rs. 300 | NA |
| 14 Nov 2022 | Rs.130 | Rs. 300 | NA |
| 12 Nov 2022 | Rs. 85 | Rs. 300 | NA |
| 11 Nov 2022 | Rs. 75 | Rs. 300 | NA |
| 10 Nov 2022 | Rs. 15 | NA | NA |
| 09 Nov 2022 | Rs. 15 | NA | NA |
Grey Market is a trading terminal where the shares of a company are traded before the listing on the stock exchange. Grey Market Premium is the surplus that traders earn while making trades in the Grey Market.
The Grey Market is an unofficial and unregulated market but bears significant influence on the market trends.
Kaynes Technology IPO GMP is updated here now as there are any movements in the market.
Kaynes Technologies IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 10th Nov | 0.52x | 0.10x | 0.12x | 2.04x | 0.23x |
| 2nd Day -11th Nov | 2.45x | 0.77x | 0.47x | 3.22x | 1.10x |
| 3rd Day – 14th Nov | 98.47x | 21.21x | 4.09x | 11.89x | 34.16x |
| Shares Offered or Net Issue | 2,923,888 | 2,255,858 | 5,263,667 | 26,833 | 10,470,246 |
Kaynes Technology IPO Subscription will initiate after the company files the RHP and starts the subscription process. In the subscription process, the willing investors bid for the allotment of shares.
They can apply for shares in lots usually. An IPO is generally open for subscription for 3 days which can be increased up to a maximum of 10 days. In this period, the bidders are required to place their investment bids.
Kaynes Technologies IPO Allotment Status
After the subscription process, the company allows the shares to the successful bidders and credits the shares to their Demat Accounts. The entire IPO process is required to be executed in accordance with the regulations of SEBI.
Kaynes Technology IPO Allotment will be made by the company in consultation with the Book Running Lead Managers.
Kaynes Technologies IPO Live Performance
The Kaynes Technology IPO Performance will be updated here. Once the shares are listed, you will be able to track Kaynes Technology IPO Price from the given link.
Subscribe to Kaynes Technologies IPO – Open Free Demat Account Now!
Latest Kaynes Technologies IPO News
The Mysore-based Kaynes Technology filed the preliminary papers to seek SEBI approval and launch its public offer in the market. The company is raising funds in order to repay its outstanding debts and fund the capital expenditure requirements of its new manufacturing unit being established at Mysore and Manesar.
The company is often regarded as a leading end-to-end and IoT (Internet of Things) solutions-enabled integrated electronics manufacturing player and has achieved overwhelming success over the years with its endeavours.
Kaynes Technology IPO will be a Fresh Issue of Equity Shares. Also, Promoter Ramesh Kunhikannan and shareholder Freny Firoze Irani will be diluting their shares in the IPO.
Kaynes Technologies – Company Review
Kaynes Technology India Limited was incorporated as a private limited company in the year 2008. The company is based in Mysore, Karnataka.
The company has recently converted its status from a private limited company to a public limited company, pursuant to the public offer. The conversion took place in March 2022.
The company caters to various sectors including automotive, industrial, railways, medical, aerospace, defence & outerspace, IoT/IT and consumer. The company has an extensive range of products curated to synchronize with their customers.
Products or Services
Kaynes Technology India Limited is an end-to-end and IoT solutions enabled integrated electronics manufacturing company. It is equipped with end-to-end capabilities to serve across the ESDM spectrum.
The company is indulged in the designing, manufacturing and product sustenance process and offers Conceptual Design, Process Engineering, Integrated Manufacturing and Life Cycle Support through its well-established infrastructural abilities.
The company’s operations are driven towards the Make in India initiative and contributes with its full potential along with its team.
Promoters and Holding
The promoter of Kaynes Technology India Limited are:
- Ramesh Kunhikannan
- Savitha Ramesh
- RK Family Trust
The following in the management are leading the company with their strengths and experience in diverse industries:
- Ramesh Kunhikannan in the position of Managing Director
- Savitha Ramesh in the position of Chairperson and Whole-time Director
- Jairam Paravastu Sampath in the position of Whole-time Director and Chief Financial Officer
- Rajesh Sharma in the position of Chief Executive Officer
- Anup Kumar Bhat in the position of Independent Director
- Vivekanandah Ramasamy in the position of Independent Director
- Koshy Alexander in the position of Independent Director
- Murali S G in the position of Independent Director
- Poornima Ranganath in the position of Independent Director
- Sajan Anandaraman in the position of Head of Commercial and Corporate Affairs
Is Kaynes Technologies good for Investment?
Kaynes Technology is a thriving entity which is supplying the best of resources to its customers with the help of impeccable capabilities and highly efficient technologies.
It serves through its 8 manufacturing units and 2 service centres from where it is serving customers in varied sectors.
The company is led by efficient management who are contributing with their extensive knowledge and experience and all its operations are executed so well by its team of 1500+ employees.
Kaynes Technologies Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Assets | 5,430.60 | 4,193.67 | 3,781.15 | 3,633.03 |
| Revenue | 4,719.29 | 4,246.63 | 3,701.66 | 3,665.97 |
| Expense | 4,419.99 | 4,137.91 | 3,588.86 | 3,530.33 |
| Profit After Tax | 218.23 | 97.33 | 93.55 | 97.28 |
Kaynes Technology has created a distinct position in the market over the span of time. The company is widely seen as a one-stop solution provider.
Kaynes Technology also has an impressive financial front.
The total income of the company for the three quarters of 2021 was 4,719.29 million and the profit for the same period was 218.23 million.
In the past years also, the company has delivered positive results.
| Earnings per Equity Share (in Million) | ||||
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic | 5.19 | 2.28 | 2.32 | 2.38 |
| Diluted | 4.66 | 2.15 | 2.32 | 2.38 |
Kaynes Technologies IPO Review
The Kaynes Technology IPO is a combination of fresh issue and an offer for sale. According to the DRHP, one promoter and one existing shareholder will be offering their shares in the IPO.
Ramesh Kunhikannan will be offering 37,00,000 Equity Shares and Freny Firoze Irani will be offloading 35,00,000 Equity Shares. The proposed shared will be listed on both the main board exchanges i.e., BSE and NSE.
The company has proposed the IPO to initiate some expansion plans to scale up the business for its future endeavours. The company is planning to invest in its wholly-owned subsidiary and set up a new facility to broaden its operations.
It is the first public offer of the company and it has duly filed the DRHP with SEBI to float its shares in public.
Kaynes Technologies IPO Details
Here are few more details you need to know before investing in Kaynes Technologies IPO –
Kaynes Technologies IPO Issue Object
The Kaynes Technologies has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Repayment/ prepayment, in full or part, of certain borrowings availed by our Company;
- Funding capital expenditure towards the expansion of our existing manufacturing facility at Mysore, Karnataka, and near our existing manufacturing facility at Manesar, Haryana;
- Investment in our wholly-owned Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka;
- Funding working capital requirements of our Company; and
- General corporate purposes.
Kaynes Technologies IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Internet of Things (“IoT”) solutions enabled integrated electronics manufacturing player with end-to-end capabilities across the Electronics System Design and Manufacturing spectrum.
- Diversified business model with portfolio having applications across industry verticals
- Long-standing relationships with a marquee customer base
- Global certifications for each industry vertical catered to and multiple facilities across India with advanced infrastructure
- Strong supply chain and sourcing network
- Track record of consistent financial performance
- Experienced Promoters and senior management with extensive knowledge of the sector
Quantitative factors are:
| Basic EPS | Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 2.28 | 2.15 | 6.87 | 29.57 |
| 31-Mar-20 | 2.32 | 2.32 | 9.90 | – |
| Mar-19 | 2.38 | 2.38 | 11.46 | – |
Kaynes Technologies IPO Lead Managers
Here are the list of Lead managers –
- DAM Capital Advisors Limited
- IIFL Securities Limited
Kaynes Technologies IPO Registrar to offer
Check out the details of registrar here –
Link Intime India Private Limited
C-101, 247 Park, 1st Floor
L.B.S. Marg, Vikhroli West Mumbai
400 083, Maharashtra, India
Tel: +91 22 4918 6200
E-mail: kaynes.ipo@linkintime.co.in
Investor Grievance e-mail: kaynes.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Kaynes Technologies IPO – Other Details
- Statutory Auditor – K. P. Rao & Co
- Legal Counsel to the Company – J. Sagar Associates
- Bankers to the Company – Saraswat Co-operative Bank Limited, Canara Bank, HDFC Bank Limited and State Bank of India
Kaynes Technologies IPO Verdict by Stock Brokers
The details of the Kaynes Technology IPO are yet to be disclosed. The company’s IPO is in the preliminary phase presently and will head towards the launch after its DRHP is approved. Therefore, there are no reviews as of now by any of the top brokers. We will keep you updated with all the latest information related to the company and its IPO.
Kaynes Technologies IPO – Conclusion
The Kaynes Technology is engaged in a new-age business where it is catering to a broad array of customers and includes sectors like automotive and railways.
One of the objects of the IPO is to secure its expansion course of action and lead to future growth. The company is in the preliminary stage of the IPO and is fulfilling all requirements to garner funds.
The enterprise zone of the company is evolving and can turn out to be a good opportunity for the investors.
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Kaynes Technologies IPO Review FAQs
Check out the FAQs on Kaynes Technologies IPO –
What is the Issue Size of Kaynes Technologies IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Kaynes Technologies IPO?
The price band for this particular IPO ranges between Rs. 559 to Rs.587 per share. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Kaynes Technologies IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Nov 10, 2022, while the closing date is set at Nov 14, 2022.
What is the Kaynes Technologies IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on Nov 17, 2022, refund initiation is on Nov 18, 2022, credit of shares is on Nov 21, 2022, and share listing date is on Nov 22, 2022.
What is the Kaynes Technologies IPO Listing Date?
Shares of this company shall be listed in the exchanges Nov 22, 2022. The date, when the listing would be done, is stagnant on Nov 22, 2022.
Who is the Registrar of Kaynes Technologies IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Kaynes Technologies IPO?
Here are the promoters of this IPO – RAMESH KUNHIKANNAN, SAVITHA RAMESH AND RK FAMILY TRUST. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Kaynes Technologies IPO?
They have obtained the GMP of this IPO and it is Rs 130. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Kaynes Technologies IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Kaynes Technologies Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 97.33, 2020 is 93.55, 2019 is 97.28. PAT from Dec 2021 is 218.23.
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