Kaynes Technology was one of the first companies to offer design-led electronics manufacturing to OEMs, using its mature embedded design capabilities.
Mumbai, Nov 22 (the CONNECT) - Kaynes Technology India Limited, an end-to-end and IoT solutions enabled integrated electronics manufacturing player, has made a strong debut on the exchanges closing at a 17% premium to its issue price.
The scrip listed Rs 775 per share on BSE and Rs 778 per share on NSE, at a premium of 32.03% and 32.54% respectively yesterday The company's share price closed at Rs 690.10 per share on the BSE, a 17.56% premium, and at Rs 685.25 per share on the NSE, a 16.74% premium.
As per NSE, the total quantity traded stood at 156.34 lakh shares, on BSE the total Quantity stood at 9.55 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1212.19 crore.
Ramesh Kunhikannan, Managing Director – Kaynes Technology India Limited said at the listing ceremony, “What started out as a dream has become a realty today.”
“A big thank you for giving wings to our dream. We wouldn’t be here without your support and we look forward to your guidance for a brighter future," he said.
The Market Capitalization of the Company at today’s closing price stood at Rs. 4012.41 Crore as per BSE and Rs. 3984.21 Crore at NSE.
Software Technology Park of India, an autonomous society under the Ministry of Electronics and Information Technology, Government of India has recently felicitated Mysuru based Kaynes Technology India Limited as the best performer for the Electronic Hardware Exports from Tier II and III Region.
The issue with a face value of ₹10 per Equity Share consists of a fresh issue of Equity Shares aggregating to ₹ 530 crore and an offer for sale of up to 5,584,664 Equity Shares by Promoter and other Selling Shareholder. The offer also includes a reservation of up to ₹1.5 crore for subscription by eligible employees.
Kunhikannan, a technocrat founded Kaynes Technology as a sole proprietorship in 1989 and has over 33 years of expertise in the electronic manufacturing services industry, is the Company's Promoter and Managing Director. Kaynes Technology was one of the first companies to offer design led electronics manufacturing to original equipment manufacturers using its mature embedded design capabilities. Among the listed space, Kaynes Technology competes with Dixon Technologies India Limited, Syrma SGS Technology Limited and Amber Enterprises India Limited.
KTIL has eight strategically located manufacturing facilities in India, in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand, allowing it to service its customers efficiently and cost-effectively. It had a combined capacity to assemble over 1,500 million (on an annualized basis) as of June 30, 2022, with an exclusive line for "Green Manufacturing" compatible with Directive 2002/95/EC Restriction of Hazardous Substances ("RoHS"), and under the manufacturing infrastructure includes a design facility and two service centres.
DAM Capital Advisors Limited and IIFL Securities Limited are the BRLMs to the Offer and Link Intime India Private Limited is the registrar to the Offer.
Pic caption: Ramesh Kunhikannan, MD, Savitha Ramesh, Chairperson, Premita Govind, Head of Human Resource, Govind S Menokee, Head of Information Technology, of Kaynes Technology India Limited at the iconic bell-ringing ceremony today, at NSE Mumbai.