Kaynes Technology IPO

Kaynes Technology IPO

Company Profile

Mysuru-based Kaynes Technology was incorporated on 28 march 2008, and it is leading in an end-to-end IoT(Internet of Things) solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronic system design and manufacturing service. 
In India, Kaynes Technology operates its eight manufacturing facilities across Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand. Also, the company works with over 871 vendors and sources materials from various regions including North America, Europe, and Singapore as well as locally, as of June 30, 2022.
The company has served over 229 customers in 21 countries globally and multiple industry verticals such as automotive, aerospace, outer space, medical, nuclear, railways, and other segments.

Business Information

Kaynes Technology projects the OEM turnkey solution in a Box Build(System integration) type of manufacturing: in this, they undertake 'Build To Print' or 'Build to Specifications' of complex box builds, sub-systems, and products across various industry verticals.
There is a Printed Circuit Board Assemblies, where they undertake turnkey electronics manufacturing services of cable harnesses, PCBAs, magnetics, and plastics ranging from prototyping to product realization including mass manufacturing.
In ODM, they offer services in smart metering technology, street lighting, brushless DC technology, inverter technology, gallium nitride-based charging technology, and providing IoT solutions for making smart consumer appliances or devices IoT-connected. 
The company has reported revenue of ₹710 crores in 2022 against revenues of ₹425 crores in 2021.

Facts about the Company
  • Kaynes Technologies is the leading IoT(Internet of Things) solutions-enabled integrated electronics manufacturing player.
  • The company’s debt-to-equity ratio has come down to 0.84 in FY22 from 1.50 in FY20.
  • It has a unique selling proposition which includes its long-term relationship with customers along with holding a diversified customer base with 229 customers in 21 countries across three continents
  • Their customers include Agappe Diagnostics Limited, Canyon Aero, Frauscher Sensor Technology India Private Limited, Hitachi Rail STS India Private Limited, etc.

Points to note before Investing in the IPO
  • The IPO of Kaynes Technology will close on Nov 14, 2022.
  • The company has generated strong revenue growth in the last 3 years.
  • The company is profitable and expects its margin to improve in the near term to cross around 15% levels.
Objective of the IPO
  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.

Opening Date
Nov 10, 2022 
Closing Date
Nov 14, 2022
Issue type
Book Built Issue IPO
Face Value
₹10 per share
IPO Price
₹559 to ₹587 per share
Lot Size
Issue Size
₹857.82 Cr
Listing At
Allotment, Listing & Refund Details
Finalization of Basis of Allotment
Nov 17, 2022
Initiation of Refunds
Nov 18, 2022
Credit of Equity Shares
Nov 21, 2022
Listing Date
Nov 22, 2022
To apply from 5paisa Website:  Apply IPO
To apply from 5paisa Mobile App:  Apply IPO
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