Kaynes Technology IPO
IPO Details
- Open Date
10 Nov 2022
- Close Date
14 Nov 2022
- IPO
Price Range
₹ 559 to ₹587
- IPO
Size
₹ 857.82 Cr
- Listing Exchange
BSE, NSE
- Listing Date
22 Nov 2022
IPO Timeline
Last Updated: 15 November 2022 10:27 AM by rahul_raskar
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
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
| 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% |
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
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FAQs
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).
The price of the Kaynes Technology IPO is set at Rs. 559 – Rs. 587 per share.
The Kaynes Technology IPO opens on 10th November and closes on 14th November.
The Kaynes Technology IPO issue consists of a fresh equity shares worth ₹530 crore and an OFS of 55,84,664 equity shares.
Kaynes Technology is promoted by Ramesh Kunhikannan, Savitha Ramesh and RK Family Trust.
The allotment date of Kaynes Technology IPO is set for 17th November.
The Kaynes Technology IPO’s issue will be listed on 22nd November.
DAM Capital Advisors and IIFL Securities are the book running lead managers to 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
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 Information
Kaynes Technology
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
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)