Offer period |
Nov 10, 2022, to Nov 14, 2022, |
Price Band |
₹559 to ₹587 per share |
Lot Size |
25 Shares |
Issue Size |
₹857.82 Cr |
Allotment Date |
Nov 17, 2022 |
Listing Date |
Nov 22, 2022 |
Kaynes is an integrated electronics manufacturing company that offers end-to-end and IoT solutions. Its services include conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace, defense, outer space, nuclear, medical, railways, Internet of Things (IoT), information technology, and other industries.
The company has eight strategically located manufacturing facilities in Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand.
The company is classified according to its service level:
OEM - Turnkey Solutions - Box Build: It performs "Build to Print" or "Build to Specifications" of complex box builds, subsystems, and products in a variety of industry verticals. OEM - Turnkey Solutions - Printed Circuit Board Assemblies: It provides turnkey electronics manufacturing services for PCBAs, cable harnesses, magnetics, and plastics, from prototyping to product realization and mass manufacturing.
ODM: It provides ODM services in innovative metering technology, intelligent street lighting, brushless DC ("BLDC") technology, inverter technology, gallium nitride-based charging technology, and providing IoT solutions for connecting smart consumer appliances or devices to the internet of things.
Kaynes Technology, an IoT solutions-enabled integrated electronics manufacturing company, will launch its initial public offering on November 10th and close on November 14th. The offering includes new equity shares worth 530 crores and an OFS of 55,84,664 equity shares.
The issue will be listed on November 22nd, and the shares will be distributed on November 17th. The price band is fixed at ₹559 - ₹587, with a lot size of 25 shares per lot.
Ramesh Kunhikannan, the promoter, and Freny Firoze Irani, the shareholder, will sell up to 20,84,664 equity shares and 35,00,000 equity shares in the OFS, respectively.
The company raised 130 crores through a pre-IPO placement of 23,38,760 equity shares at 555.85 per share to Acacia Banyan Partners and Volrado Venture Partners Fund II. The book-running lead managers are DAM Capital Advisors and IIFL Securities.
The company intends to use the Net Proceeds to fund the following projects:
Full or partial repayment/prepayment of certain borrowings obtained by the Company.
Capital expenditure funding for the expansion of the existing manufacturing facility in Mysore, Karnataka, as well as near the existing manufacturing facility in Manesar, Haryana.
Investment in Kaynes Electronics Manufacturing Private Limited, a wholly-owned subsidiary, to establish a new facility in Chamarajanagar, Karnataka.
Funding the Company's working capital requirements.
General corporate objectives
Period Ended |
Total Assets |
Total Revenue |
Profit After Tax |
Net Worth |
Total Borrowing |
31-Mar-20 |
378.12 |
370.17 |
9.36 |
95.76 |
143.83 |
31-Mar-21 |
419.37 |
424.66 |
9.73 |
136.51 |
139.47 |
31-Mar-22 |
622.42 |
710.35 |
41.68 |
201.82 |
169.55 |
30-Jun-22 |
763.26 |
199.98 |
10.05 |
212 |
186.38 |
Internet of Things ("IoT") solutions provide an integrated electronics manufacturing player with end-to-end capabilities in the Electronics System Design and Manufacturing spectrum.
Diversified business model with a portfolio of applications spanning multiple industry verticals
Global certifications for each industry vertical served, as well as multiple facilities with advanced infrastructure across India
An extensive supply chain and sourcing network
Increasing competition in the electronics system design and manufacturing industry may put pricing and market share under pressure.
Any slowdown, shutdown, or disruption in its manufacturing facilities may be caused by natural or other disasters, resulting in unanticipated damages.
The loss of one or more customers or a decrease in product demand
The inability to formalise and implement an effective business and growth strategy
Enter your client ID
Enter the OTP received in your registered mobile number.
Choose the IPO and click on apply button.
Enter the UPI ID, Quantity, and Cut off price.
Click on submit button
Confirm the mandate the mandate request received on your phone by entering the UPI Pin.
You can also watch our youtube video on “How to Apply on IPO”
DISCLAIMER |
This report is only for the information of our customers. Recommendations, opinions, or suggestions are given with the understanding that readers acting on this information assume all risks involved. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. ATS and/or its group companies do not as assume any responsibility or liability resulting from the use of such information.