Kaynes Technology India Limited IPO Details

Kaynes Technology India Ltd IPO (Kaynes Technology India IPO)

Kaynes Technology India Ltd - Company Overview

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.

Business Overview

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 India Ltd - IPO Synopsis

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.

Kaynes Technology India Ltd - Objectives of the IPO

The company intends to use the Net Proceeds to fund the following projects:

1. Full or partial repayment/prepayment of certain borrowings obtained by the Company.

2. 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.

3. Investment in Kaynes Electronics Manufacturing Private Limited, a wholly-owned subsidiary, to establish a new facility in Chamarajanagar, Karnataka.

4. Funding the Company's working capital requirements.

5. General corporate objectives

Kaynes Technology India Ltd - Financial Summary (in crore)

Kaynes Technology India Ltd IPO - Pros

1. Internet of Things ("IoT") solutions provide an integrated electronics manufacturing player with end-to-end capabilities in the Electronics System Design and Manufacturing spectrum.

2. Diversified business model with a portfolio of applications spanning multiple industry verticals

3. Global certifications for each industry vertical served, as well as multiple facilities with advanced infrastructure across India

4. An extensive supply chain and sourcing network

Kaynes Technology India Ltd IPO - Cons

1. Increasing competition in the electronics system design and manufacturing industry may put pricing and market share under pressure.

2. Any slowdown, shutdown, or disruption in its manufacturing facilities may be caused by natural or other disasters, resulting in unanticipated damages.

3. The loss of one or more customers or a decrease in product demand

4. The inability to formalise and implement an effective business and growth strategy

How to Apply for Kaynes Technology India Ltd IPO

1. Go to https://ipo.adityatrading.in/

2. Enter your client ID

3. Enter the OTP received in your registered mobile number.

4. Choose the IPO and click on apply button.

5. Enter the UPI ID, Quantity, and Cut off price.

6. Click on submit button

7. Confirm the mandate the mandate request received on your phone by entering the UPI Pin.

8. You can also watch our youtube video on “How to Apply on IPO”