Incorporated in 2008, Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides 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.
The company is among the first companies in India to offer design-led electronics manufacturing to original equipment manufacturers (“OEMs”).
The company’s operations are classified under the following business verticals:
OEM – Turnkey Solutions – Box Build (“OEM – Box Build”).
OEM – Turnkey Solutions – Printed Circuit Board Assemblies (“PCBAs”) (“OEM – Turnkey Solutions”).
ODM: The company offers ODM services in smart metering technology, smart street lighting, and brushless DC (“BLDC”) technology.
Product Engineering and IoT Solutions: The company offer conceptual design and product engineering services in industrial and consumer segments.
Kaynes Technology operates eight manufacturing facilities across India in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand.
As of June 30, 2022, the company’s research and development team comprised 19 employees, including engineers, designers and other workers.
In nine months ended June 30, 2022, The company served 229 customers in 21 countries globally and multiple industry verticals such as automotive, aerospace and defence, industrial, railways, medical and IT / ITES.
The company works with over 871 vendors and sources materials from various regions including North America, Europe, and Singapore as well as locally within India, As of June 30, 2022.
Company Financials
| 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 |
| Amount in ₹ Crore |
Objects of the Issue
The company proposes to utilise the Net Proceeds towards funding the following objects:
1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.
2. Funding capital expenditure towards expansion of the existing manufacturing facility at Mysore, Karnataka, and near the existing manufacturing facility at Manesar, Haryana.
3. Investment in the wholly owned Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka.
4. Funding working capital requirements of the Company.
5. General corporate purposes.
Kaynes Technology IPO Details
| IPO Date | Nov 10, 2022 to Nov 14, 2022 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹559 to ₹587 per share |
| Lot Size | 25 Shares |
| Issue Size | [.] shares of ₹10 (aggregating up to ₹857.82 Cr) |
| Fresh Issue | [.] shares of ₹10 (aggregating up to ₹530.00 Cr) |
| Offer for Sale | 5,584,664 shares of ₹10 (aggregating up to ₹327.82 Cr) |
| Employee Discount | 15 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| Company Promoters | Ramesh Kunhikannan, Savitha Ramesh and RK Family Trust are the company promoters. |
Kaynes Technology IPO Tentative Timetable
Kaynes Technology IPO opens on Nov 10, 2022, and closes on Nov 14, 2022. The Kaynes Technology IPO bid date is from Nov 10, 2022 10.00 A.M. to Nov 14, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Nov 10, 2022 |
| Closing Date | Nov 14, 2022 |
| Basis of Allotment | Nov 17, 2022 |
| Initiation of Refunds | Nov 18, 2022 |
| Credit of Shares to Demat | Nov 21, 2022 |
| Listing Date | Nov 22, 2022 |
Kaynes Technology IPO Lot Size
The Kaynes Technology IPO lot size is 25 shares. A retail-individual investor can apply for up to 13 lots (325 shares or ₹190,775).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,675 |
| Retail (Max) | 13 | 325 | ₹190,775 |
| S-HNI (Min) | 14 | 350 | ₹205,450 |
| B-HNI (Min) | 69 | 1,725 | ₹1,012,575 |
Kaynes Technology IPO Promoter Holding
| Pre Issue Share Holding | 79.78% |
| Post Issue Share Holding | 67.39% |
Kaynes Technology IPO Review
KTIL has created a niche place in the segment and has good orders on hand. Based on its current financials though the issue appears fully priced, considering future prospects, well-informed investors may consider parking funds with medium to long-term perspectives. Read detail review…
Kaynes Technology IPO Prospectus
Company Contact Information
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 Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: kaynes.ipo@linkintime.co.in
Website: https://linkintime.co.in/