Kaynes Technology IPO

Closed DRHP

IPO Subscription Details

  • Open Date 10 Nov
  • Close Date 14 Nov
  • Lot Size 25
  • IPO Size ₹ 857.82 Cr
  • IPO Price Range ₹ 559 to ₹587
  • Min Investment ₹ 13975
  • Listing Exchange BSE, NSE
  • Basis of Allotment 17 Nov
  • Refunds 18 Nov
  • Credit to Demat Account 21 Nov
  • Listing Date 22 Nov

Kaynes Technology IPO Subscription Status

Date QIB NII Retail EMP TOTAL
14-Nov-22 98.47x 21.21x 4.09x 11.89x 34.16x
11-Nov-22 2.45x 0.77x 0.47x 3.22x 1.10x
10-Nov-22 0.52x 0.10x 0.12x 2.04x 0.23x

IPO Synopsis

Kaynes Technology, an IoT solutions-enabled integrated electronics manufacturing company’s IPO issue opens on 10th November and closes on 14th November. The issue consists of fresh equity shares worth ₹530 crore and an OFS of 55,84,664 equity shares. 

The issue will be listed on 22nd November while the shares will be allotted on 17th November. The price band is fixed for Rs. 559 – Rs. 587 and the lot size is fixed at 25 shares per lot. 
Promoter Ramesh Kunhikannan and shareholder Freny Firoze Irani will sell up to 20,84,664 equity shares and 35,00,000 equity shares in the OFS respectively.

The company conducted a pre-IPO placement of 23,38,760 equity shares at a price of ₹555.85 apiece to Acacia Banyan Partners and Volrado Venture Partners Fund II aggregating to ₹130 crore.
DAM Capital Advisors and IIFL Securities are the book-running lead managers.

Objective of Kaynes Technology IPO: 

The net proceeds from the fresh issue will be utilised towards:

•    repayment or prepayment of certain borrowings

•    funding capex for expansion of existing manufacturing facilities

•    investments in its subsidiary 

•    working capital needs and general corporate purposes
 

Kaynes Technology IPO Video

About Kaynes Technology

Kaynes is an end-to-end and IoT solutions-enabled integrated electronics manufacturing company. It provides conceptual design, process engineering, integrated manufacturing and life-cycle support for major players in the automotive, industrial, aerospace, defence, outer-space, nuclear, medical, railways, Internet of Things (IoT), information technology, and other segments.
We operate eight strategically located manufacturing facilities across India in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand
The business is classified based on the stage of services that it provides:
OEM – Turnkey Solutions – Box Build: It undertake “Build To Print” or “Build to Specifications” of complex box builds, sub-systems and products across various industry verticals. OEM – Turnkey Solutions – Printed Circuit Board Assemblies: It undertakes turnkey electronics manufacturing services of PCBAs, cable harness, magnetics and plastics ranging from prototyping to product realization including mass manufacturing. 
ODM: It offers ODM services in smart metering technology, smart street lighting, brush less DC (“BLDC”) technology, inverter technology, gallium nitride based charging technology and providing IoT solutions for making smart consumer appliances or devices IoT connected.
 

Check out our webstories on Kaynes Technology IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 706.2 420.6 368.2
EBITDA 93.7 40.9 41.3
PAT 41.7 9.7 9.4

 

Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 622.4 419.4 378.1
Share Capital 46.2 6.8 6.8
Total Borrowings 14.8 9.3 3.9

 

Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from/(used in) operating activities 21.1 27.7 45.2
Net cash from / (used in) investing activities -44.5 -24.1 -9.9
Net cash flow from / (used in) financing activities 27.2 -1.3 -35.4
Net increase (decrease) in cash and cash equivalents 3.8 2.3 -0.1

Peer Comparison

Name of the Company Total Revenue 
(Rs. Cr)
Basic EPS NAV Rs. per share PE RoNW %
Kaynes Technology India Limited 710.35 9.7 43.12 NA 24.50%
Syrma SGS Technology Limited 1,284.37 5.25 51.2 63.56 12.60%
Dixon Technologies Limited 10,700.89 32.31 169.3 137.49 19.10%
Amber Enterprises India Limited 4,239.63 32.41 526.2 61.72 6.30%


IPO Key Points

  • Strengths

    •    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 with portfolio having applications across industry verticals
    •    Global certifications for each industry vertical catered to and multiple facilities across India with advanced infrastructure
    •    Strong supply chain and sourcing network
     

  • Risks

    •    Increasing competition in the electronics system design and manufacturing industry may create pressures of pricing and market share 
    •    Any slowdown, shutdown or disruption in its manufacturing facilities may be caused by natural and other disasters causing unforeseen damages 
    •    The loss of one or more customers or a reduction in demand for the products 
    •    Inability to formalize and operationalize effective business and growth strategy
     

How to apply for IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

IPO FAQs

What is the lot size and investment required for the Kaynes Technology IPO?

The Kaynes Technology IPO lot size is 36 shares per lot.  A retail-individual investor can apply for up to 13 lots (325 shares or ₹190,775). 

What is the price band of the IPO?

The price of the Kaynes Technology IPO is set at Rs. 559 – Rs. 587 per share.

When does the Kaynes Technology IPO issue open and close?

The Kaynes Technology IPO opens on 10th November and closes on 14th November.

What is the size of Kaynes Technology IPO issue?

The Kaynes Technology IPO issue consists of a fresh equity shares worth ₹530 crore and an OFS of 55,84,664 equity shares.

Who are the promoters/key personnels of Kaynes Technology?

Kaynes Technology is promoted by Ramesh Kunhikannan, Savitha Ramesh and RK Family Trust.

What is the allotment date of Kaynes Technology IPO?

The allotment date of Kaynes Technology IPO is set for 17th November. 

What is the Kaynes Technology IPO’s listing date?

The Kaynes Technology IPO’s issue will be listed on 22nd November.

Who are the book runners for Kaynes Technology IPO?

DAM Capital Advisors and IIFL Securities are the book running lead managers to the issue.

What is the objective of the issue?

The net proceeds from the fresh issue will be utilised towards:

•    repayment or prepayment of certain borrowings
•    funding capex for expansion of existing manufacturing facilities
•    investments in its subsidiary 
•    working capital needs and general corporate purposes
 

How to apply for the Kaynes Technology IPO?

To apply for the IPO, follow the steps given below

•    Login to your 5paisa account and select the issue in the current IPO section
•    Enter the number of lots and price at which you wish to apply for
•    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
•    You will receive a mandate notification to block funds in your UPI app
 

Contact Details of Kaynes Technology IPO

Contact Information

Address

Kaynes Technology India Ltd

23-25, Belagola,
Food Industrial Estate,
Metagalli P.O., Mysore – 570016,
Phone: +91 82125 82595
Email: kaynestechcs@kaynestechnology.net
Website: https://www.kaynestechnology.co.in/

Kaynes Technology IPO Register

Address

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: kaynes.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Kaynes Technology IPO Lead Manager

DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd) (Past IPO Performance)
IIFL Securities Ltd (Past IPO Performance)