Kaynes Technology India IPO
Kaynes Technology India IPO — date, price band, lot size & details 2022
Kaynes Technology India listed on 22 Nov 2022 at ₹778, 32.5% above the ₹587 issue price.
Kaynes Technology India is an end-to-end and IoT solutions enabled electronics manufacturer, from design to box build. Its total income was Rs 710.35 crore in FY2022.
Stock price
Kaynes Technology India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 10 Nov 2022
- Close 14 Nov 2022
- Allotment 17 Nov 2022
- Refund/credit 18 Nov 2022
- Listing 22 Nov 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 10 to 14 Nov, 2022 |
|---|---|
| Price Band | ₹559 – ₹587 |
| Face Value | ₹10 |
| Lot Size | 25 Shares |
| Issue Size | ₹857.82 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,675 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 25 shares at the ₹587 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 25 | ₹14,675 |
| Retail (max) | 13 | 325 | ₹1,90,775 |
| S-HNI (min) | 14 | 350 | ₹2,05,450 |
| S-HNI (max) | 68 | 1,700 | ₹9,97,900 |
| B-HNI (min) | 69 | 1,725 | ₹10,12,575 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 370.17 crore in FY2020 to Rs 710.35 crore in FY2022.
- 02Profit after tax rose from Rs 9.36 crore in FY2020 to Rs 41.68 crore in FY2022.
- 03Rs 530.00 crore of the issue was fresh capital for debt repayment, plants and working capital.
- 04It served 229 customers in 21 countries across many industries.
- 05The source puts return on capital employed at 24.44%.
Risks · 5
- 01The pre-issue P/E was 69.14 at the upper band of Rs 587, based on EPS of Rs 8.49.
- 02Electronics manufacturing margins are thin, and the source puts the PAT margin at 5.90%.
- 03Total borrowing rose from Rs 139.47 crore on 31 March 2021 to Rs 186.38 crore on 30 June 2022.
- 04Rs 327.82 crore of the issue was offer for sale, including 2,084,664 shares by the promoter.
- 05Promoters held 79.78% before the issue and about 63.81% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Kaynes Technology India offer document.
| Metric | 30 Jun 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 763.26 | 622.42 | 419.37 | 378.12 |
| Total Income | 199.98 | 710.35 | 424.66 | 370.17 |
| Profit After Tax | 10.05 | 41.68 | 9.73 | 9.36 |
| NET Worth | 212.00 | 201.82 | 136.51 | 95.76 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Borrowing | 186.38 | 169.55 | 139.47 | 143.83 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Kaynes Technology India RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Kaynes Technology India IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹8.49 | ₹6.91 |
| P/E Ratio (x) | 69.14 | 84.95 |
| Market Cap at Offer Price (₹ Cr) | ₹694.86 | ₹853.74 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹587 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹625.74 Cr of the issue is earmarked to named objects.
Kaynes Technology India IPO Anchor Investors
28 anchor investors across 17 fund houses committed ₹256.92 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
Its verticals are OEM box build, OEM turnkey PCB assemblies, ODM services in smart metering, smart street lighting and BLDC technology, and product engineering and IoT solutions. It serves automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways and IT customers.
It runs eight plants in Karnataka, Haryana, Himachal Pradesh, Tamil Nadu and Uttarakhand, and served 229 customers in 21 countries.
The IPO was Rs 857.82 crore, with Rs 530.00 crore of fresh issue and Rs 327.82 crore of offer for sale. Rs 130.00 crore was planned for repaying borrowings and Rs 149.30 crore for a new plant at Chamarajanagar, Karnataka.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Kaynes Technology India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Dam Capital Advisors Ltd
70 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Kaynes Technology India?
The current Grey Market Premium is ₹180, or 31% over the issue price.
What is the Kaynes Technology India IPO price band?
₹559 to ₹587, on a face value of ₹10.
When is the allotment?
The basis of allotment is 17 November 2022, with listing on 22 November 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
