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Business Standard
20-06-2025
- Business
- Business Standard
Kaynes Technology gains 4% after launching QIP to raise ₹1,600 cr; Details
Kaynes Technology India shares jumped 3.9 per cent in trade on Friday, June 20, 2025, logging an intraday high at ₹5,825.5 per share on BSE. The stock was in demand after the company launched its qualified institutional placement (QIP) to raise funds worth ₹1,600 crore. 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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Business Standard
06-06-2025
- Business
- Business Standard
Ireda share price slips 2% after company launches ₹5,000 crore QIP
Indian Renewable Energy Development Agency (Ireda) share price slipped 2.3 per cent in trade on Friday, June 6, 2025, logging a day's low at ₹172.4 per share on BSE. The selling pressure on the counter came a day after the company's qualified institutional placement (QIP) was launched. At 9:46 AM, Ireda shares were trading 1.44 per cent lower at ₹173.95 per share on the BSE. In comparison, the BSE Sensex was down 0.28 per cent at 81,210.85. The market capitalisation of the company stood at ₹46,713.35 crore. The 52-week high of the stock was at ₹310 per share and the 52-week low of the stock was at ₹137 per share. In the past one year, Ireda shares have lost 1 per cent as compared to Sensex's rise of around 8 per cent. Ireda QIP launch On Thursday, after market hours, the company launched its ₹5,000 crore QIP. The floor price for the same was fixed at ₹173.83 per share which translated to a 1.5 per cent discount from the previous close of ₹176.5 per share. "We further wish to inform you that the 'Relevant Date' for the purpose of the QIP, in terms of Regulation 171(b)(i) of the SEBI ICDR Regulations, is June 5, 2025; and accordingly, the Floor Price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 176(1) of the Sebi ICDR Regulations, is ₹173.83 per Equity Share. Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and special resolution of the Shareholders dated February 24, 2025, the company may offer a discount of not more than 5 per cent (five percent) on the Floor Price so calculated for the QIP," the filing read. In a board meeting on January 23, 2025, the fundraising up to ₹5,000 crore through QIP was approved. "The raising of funds by issue of equity shares through a qualified institutions placement (QIP), in one or more tranches, under applicable laws, for an amount aggregating up to ₹5,000 Crore (Rupees Five Thousand Crore only) or an equivalent amount thereof (inclusive of such premium as may be fixed on such equity shares), provided the shareholding of the President of India," the filing read. About Ireda Ireda is a 'Navratna' Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). The company is engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.
Time of India
26-05-2025
- Business
- Time of India
Groww files draft papers for IPO, eyes $700 million to $1 billion listing
Live Events Online investment platform Groww has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), to launch an initial public offering (IPO), as per a public notice on May IPO is estimated to be in the range of $700 million to $1 billion, according to people briefed on the IPO papers which have been filed confidentiality will comprise equity shares with a face value of Rs 2 each, to be listed on both the NSE and company's public filing was made under Billionbrains Garage Ventures Ltd, Groww's registered corporate entity.'The filing of the pre-filed DRHP shall not necessarily mean that the company will undertake the initial public offering,' the notice company's IPO is being filed under Regulation 59C(5) of the Sebi ICDR Regulations, which permits confidential filing ahead of the formal DRHP. This route is increasingly being adopted by tech firms seeking regulatory feedback before making a public of the listing, Singapore's sovereign wealth fund GIC has sought approval from the Competition Commission of India (CCI) to acquire a 2.14% stake in Groww through a special purpose vehicle, Viggo Investments. The investment is part of a broader pre-IPO round estimated between $250 million and $300 million, with GIC likely contributing around $150 million, people aware of the matter pre-IPO round may value Groww at around $7 billion post-money, more than double its previous private market valuation of $3 billion during its 2021 Series E fundraise. Existing investor Tiger Global is also expected to participate in this reported an operating revenue of Rs 3,145 crore for FY24, but also incurred a net loss of Rs 805 crore, primarily due to a one-time tax payout stemming from its reverse flipping from the United States to in 2016, Groww is backed by marquee investors including Tiger Global, Peak XV (formerly Sequoia Capital India), Ribbit Capital, and Y Combinator.
