Kaynes Technology India IPO Subscribed 34.93 Times On Last Bidding Day

The initial public offering (IPO) of Kaynes Technology India Limited (KTIL) was opened on Thursday, November 10, 2022, and closed today, Monday, November 14, 2022. The IPO's issue price range was between Rs 559 and Rs 587 per share. The lot size of the IPO is 25 Equity Shares in multiples thereof.

The IPO received a healthy response from investors on the last day of bidding. The IPO subscribed 34.93 times on its final day, Monday, 14 November 2022. The IPO subscribed 4.22 times in the retail category, 98.68 times in QIB, and 21.86 times in the NII category by Nov ember 14, 2022. It received bids for 35,76,21,075 crore equity shares against the IPO size of 1,04,70,246 shares. The proceeds of the fresh issue will be used to repay debts and expand manufacturing facilities in Mysore, Karnataka, and Manesar, Haryana.

Kaynes Technology is a leading end-to-end and Internet of Things (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, outer-space, medical, nuclear, railways, IoT, aerospace and defence, Information Technology (IT) and other segments.