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Kaynes Technology gains 4% after launching QIP to raise ₹1,600 cr; Details
At 9:54 AM, Kaynes Tech share price was trading 2.78 per cent higher at ₹5762.8 per share on the BSE. In comparison, the BSE Sensex was up 0.39 per cent at 81,679.52. The company's market capitalisation stood at ₹36,930.5 crore. Its 52-week high was at ₹7,824.95 per share and 52-week low was at ₹3,729.7 per share.
Kaynes Technology QIP details
On Thursday, after market hours, Kaynes Technology launched its QIP at a floor price of ₹5,625.75 per share which was a premium of 0.33 per cent from the previous day's close at ₹5,606.8 per share.
"At its meeting held today i.e. June 19, 2025, inter alia, passed resolutions for authorized the opening of the Issue today, i.e. June 19, 2025, approving the floor price for the Issue, being ₹5,625.75 per equity share (Floor Price), based on the pricing formula as prescribed under Regulation 176 of the Sebi ICDR Regulations; and approving and adopting the preliminary placement document dated June 19, 2025, together with the application form in connection with the Issue," the filing read.
From this QIP, the company aims to raise up to ₹1,600 crore.
"Raising of funds through issuance of instruments or security including equity shares or any other eligible securities by way of one or more public and/or private offerings including on a preferential allotment basis and/or a qualified institutions placement and/or rights issue and/or further public offering for an amount not exceeding ₹16,000 million in terms of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations," the company had informed on January 22, 2025.
About Kaynes Technology
Kaynes Technology is an end-to-end and IoT solutions-enabled integrated electronics manufacturer in India. The company has over three decades of experience in providing 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. It manufactures products at variable or flexible volumes across all industry verticals.
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