Kaynes Technology India Limited IPO Detail
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. Our facilities are located in proximity to our customers, allowing us to service their requirements efficiently and cost-effectively.
As of December 31, 2021, the company's research and development team comprised 24 employees, including engineers, designers and other workers.
In nine months ended December 31, 2021, The company served 313 customers in 20 countries globally and multiple industry verticals such as automotive, aerospace and defence, industrial, railways, medical and IT / ITES.
The company works with over 1,146 vendors and sources materials from various regions including North America, Europe, and Singapore as well as locally within India, As of December 31, 2021.
Company Promoters
Ramesh Kunhikannan, Savitha Ramesh and RK Family TrustIPO Details
| IPO Opening Date | Nov 10, 2022 |
| IPO Closing Date | Nov 14, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹559 - 587 per equity share |
| Market Lot | 25 Shares |
| Min Order Quantity | 25 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹857.82 Cr |
| Fresh Issue | ₹530.00 Cr |
| Offer for Sale | ₹327.82 Cr |
| Employee Discount | ₹15 |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.52x | - | - | 0.1x | 0.12x | 0.23x |
| Day 2 | 2.45x | - | - | 0.77x | 0.47x | 1.09x |
| Day 3 | 98.47x | - | - | 21.21x | 4.1x | 34.16x |
IPO Tentative Timetable
The Kaynes Technology India Limited IPO open date is Nov 10, 2022, and the close date is Nov 14, 2022. The issue may list on Nov 22, 2022.
| IPO Open Date | Nov 10, 2022 |
| IPO Close Date | Nov 14, 2022 |
| Basis of Allotment Date | Nov 17, 2022 |
| Initiation of Refunds | Nov 18, 2022 |
| Credit of Shares to Demat Account | Nov 21, 2022 |
| IPO Listing Date | Nov 22, 2022 |
IPO Lot Size
The Kaynes Technology India Limited IPO market lot size is 25 shares. A retail-individual investor can apply for up to 13 lots (325 shares or ₹190775).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 25 | ₹14675 |
| Maximum | 13 | 325 | ₹190775 |
IPO Promoter Holding
| Pre Issue Share Holding | 79.78% |
| Post Issue Share Holding | 67.39% |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-19 | 363.3 | 366.6 | 9.73 |
| 31-Mar-20 | 378.12 | 370.17 | 9.36 |
| 31-Mar-21 | 419.37 | 424.66 | 9.73 |
| 31-Dec-21 | 543.06 | 471.93 | 21.82 |
Objects of the Issue:
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.
Kaynes Technology India Limited IPO Registrar:
Link Intime India Private Ltd
Kaynes Technology India Limited IPO Lead Manager(s):
Hem Securities Limited DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd) IIFL Securities Ltd.
Company Contact Information:
Kaynes Technology India Limited
23-25, Belagola,
Food Industrial Estate,
Metagalli P.O., Mysore – 570016
