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Kaynes Technology India Limited IPO Detail

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 Trust

IPO Details

IPO Opening DateNov 10, 2022
IPO Closing DateNov 14, 2022
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹559 - 587 per equity share
Market Lot25 Shares
Min Order Quantity25 Shares
Listing AtBSE, 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)

Day 1 0.52x 0.1x 0.12x 2.01x - 0.23x
Day 2 2.45x 0.77x 0.47x 3.22x - 1.09x
Day 3 98.47x 21.21x 4.1x 11.92x - 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 DateNov 10, 2022
IPO Close DateNov 14, 2022
Basis of Allotment DateNov 17, 2022
Initiation of RefundsNov 18, 2022
Credit of Shares to Demat AccountNov 21, 2022
IPO Listing DateNov 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).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding79.78%
Post Issue Share Holding67.39%

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