Kaynes Technology was incorporated on March 28, 2008. The company is an end-to-end and Internet of Things (IoT) solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing services.
| Bidding Dates |
|---|
| 10 Nov 2022 - 14 Nov 2022 |
| Subscription |
|---|
| 34.14x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,675 | 1 | 13 | 25 | 14.6 M | ₹559 - ₹587 | 74.87 % | ₹8169.0 M - ₹8578.2 M | RHP DOC |
Kaynes Technology IPO SUBSCRIPTION STATUS
14 Nov '22Kaynes Technology IPO overall subscription rate was 34.14 times the total available shares
Kaynes Technology IPO retail subscription rate was 4.07 times in the retail segment
Kaynes Technology IPO non-institutional investor subscription rate was 21.2 times in the non-institutional investor category
Kaynes Technology IPO Qualified Institutional Bidder subscription rate was 98.47 times the available shares for Qualified Institutional Bidder
Kaynes Technology IPO Employees subscription rate was 11.83 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
14 Nov 2022 (Day 3) | 4.07x | 21.2x | 98.47x | 11.83x |
11 Nov 2022 (Day 2) | 0.47x | 0.77x | 2.45x | 3.22x |
10 Nov 2022 (Day 1) | 0.12x | 0.1x | 0.52x | 2.04x |
Kaynes Technology FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| Q1FY23 | 100.5 | 1,992.7 | -71.1 | -141.8 |
| FY22 | 416.8 | 7,062.5 | 211.1 | -211.4 |
| FY21 | 97.3 | 4,206.3 | 277.3 | 27.4 |
| FY20 | 93.6 | 3,682.4 | 452.5 | 140.2 |
Kaynes Technology IPO SUBSCRIPTION STATUS DETAILS
Kaynes Technology had 14.6 M shares on offer
Kaynes Technology IPO offer price was in the range ₹559 - ₹587
Kaynes Technology IPO minimum Investment was ₹14675
Kaynes Technology IPO issue size was ₹ 8169.0 M - ₹ 8578.2 M
Kaynes Technology had a minimum lot size of 25 Shares per application
Kaynes Technology NUMBER OF SHARES ON OFFER
Kaynes Technology IPO IMPORTANT DATES
| Issue Open Date | 10 Nov 2022 |
| Issue close Date | 14 Nov 2022 |
| Allotment Date | 17 Nov 2022 |
| Refund Date | 18 Nov 2022 |
| Demat Account Credit Date | 21 Nov 2022 |
| Listing Date | 22 Nov 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Kaynes Technology Allotment Status | Exchange |
Kaynes Technology IPO subscription opened on 10 Nov 2022, and closed on 14 Nov 2022
IPO allotment for Kaynes Technology was finalized on Thursday, 17 Nov 2022
IPO listing for Kaynes Technology was on NSE and BSE on Tuesday, 22 Nov 2022
Kaynes Technology IPO LISTING GAINS
| Issue Price (adjusted) | 587.0 |
| Listing Open Price | 778.0 |
| Listing Close Price | 690.0 |
| Listing Gain% | 32.5% |
| Current Gain% | 557.0% |
Kaynes Technology Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kaynes Technology India Ltd. | 3856.3 | 22421.5 | 74.8 | 8.4 | 6.6 | 7.7 | 5.3 | 3783.2 | 33.7 | 363.9 | 24 | 51.6 | 8.9 |
| Havells India Ltd. | 1288 | 80750.1 | 49.4 | 3.2 | 3.4 | 17.9 | 11.5 | 23022.2 | 4.3 | 1690.6 | 14.8 | 26.1 | 15.7 |
| Waaree Energies Ltd. | 2717 | 78154.9 | 20.5 | 0.3 | 2.6 | 25.7 | 12.3 | 27244.9 | 83.5 | 3711.3 | 98.7 | 132.7 | 72 |
| Apar Industries Ltd. | 16631 | 66829.5 | 56.6 | 1.7 | 2.7 | 18.1 | 7.1 | 22966.9 | 22.9 | 976.9 | 18.9 | 294 | 34 |
| Premier Energies Ltd. | 1047.2 | 47537.8 | 28.6 | 0.5 | 5.6 | 35 | 13.9 | 8025.9 | 20.7 | 1509.8 | 61.1 | 36.7 | 59.1 |
| Honeywell Automation India Ltd. | 37900 | 33509.3 | 60.8 | 7.9 | 7.1 | 11.8 | 8.4 | 4860.9 | 11.2 | 525 | 0.3 | 623.3 | 7.7 |
Kaynes Technology INFORMATION ON IPO ISSUE
About Kaynes Technology
Kaynes Technology was incorporated on March 28, 2008. The company is an end-to-end and Internet of Things (IoT) solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing services.
Object of the Issue
- Repayment/prepayment, in full or part, of certain borrowings availed by the company
- Funding capital expenditure towards expansion of existing manufacturing facility in Mysore, Karnataka, and near another facility in Manesar, Haryana
- Investment in a wholly-owned subsidiary, Kaynes Electronics Manufacturing, for setting up a new facility in Chamarajanagar, Karnataka
- Funding working capital requirements of the company
- General corporate purpose
Kaynes Technology - PROMOTERS
| Name |
|---|
| Ramesh Kunhikannan |
| Savitha Ramesh |
| RK Family Trust |
Kaynes Technology Book Running Lead Managers
DAM Capital Advisors Limited
kaynes.ipo@damcapital.in
IIFL Securities Limited
kaynes.ipo@iiflcap.com
Kaynes Technology Registrar to the Offer
Link Intime India Private Limited
kaynes.ipo@linkintime.co.in
Kaynes Technology Strengths
Integrated electronics manufacturing player
The company is an 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
The company has a diversified business model with portfolio having applications across industry vertical
Long-standing relationships
The company, through three decades of business operations, established long-term relationships with well-known customers across the industries it caters to
Global certifications
The company has global certifications for each industry vertical catered to and multiple facilities across India with advanced infrastructure
Track record of consistent financial performance
The company has been delivering consistent financial performance despite the impact of the COVID-19 pandemic on the business operation
Kaynes Technology Risks
No firm commitment agreements with customers
The business does not have firm commitment agreements with all of the customers and if the customers choose not to source their requirements from the company, the business and results of operations may be adversely affected
Significant working capital requirements
The company has significant working capital requirements and if it experiences insufficient cash flows to fund it or if it is not able to provide collateral to obtain letters of credit and bank guarantees in sufficient quantities, there may be an adverse effect on business, cash flows and results of operation
Instances of non-compliances
There have been certain instances of non-compliances, including certain regulatory filings for corporate actions taken by the company in the past
Increasing competition
The increasing competition in the electronics system design and manufacturing industry may create pressures of pricing and market share that may adversely affect business, prospects, results of operations, cash flows and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 327.8 crore, of 5,584,664 shares. It also consists of a fresh issue of Rs 530.0 crore.
The promoters of the company are Ramesh Kunhikannan, Savitha Ramesh and RK Family Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 559.0 - 587.0.
The IPO application opens on Nov 10, 2022 and closes on Nov 14, 2022.
The minimum lot size for the IPO is 25. The maximum lot size for the IPO is 325.
For all category investors, the minimum application amount for this IPO is Rs. 14,675.0, the maximum value for this IPO is Rs 190,775.0.
This IPO will be allotted on Nov 17, 2022.
The refund will be credited to your account on Nov 18, 2022.
The allotted shares will be credited to your demat on Nov 21, 2022.
Kaynes Technology India Ltd.’s shares listed on the stock exchanges on Nov 22, 2022.