Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (“ESDM”) services. It 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.
Kaynes Technology is among the first companies in India to offer design-led electronics manufacturing to original equipment manufacturers (“OEMs”).
The company classifies its operations 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.
The company operate eight strategically located manufacturing facilities across India in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand. The company’s Certain manufacturing facilities are approved under the Electronics Hardware Technology Park Scheme of Software Technology Park of India, Bengaluru that offers incentives similar to a special economic zone.
As of December 31, 2021, The company’s research and development team comprised 24 employees, including engineers, designers and other workers. The company is an ISO 9001/14001/45001 BVCI certified.
In the nine months ended December 31, 2021, The company served 313 customers in 20 countries globally and multiple industry verticals such as automotive, aerospace and defence, industrial, railways, medical and IT / ITES.
Kaynes Technology IPO – Details
| IPO Opening Date | 10 November 2022 |
| IPO Closing Date | 14 November 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹856.32 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹559 – ₹587 |
| Market Lot | 25 Shares |
| Min Order | 25 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Limited |
| QIB Shares Offered | 50% |
| Retail Shares Offered | 35% |
| NII (HNI) Shares Offered | 15% |
Kaynes Technology IPO – Date Schedule
| IPO Open Date | 10 November 2022 |
| IPO Close Date | 14 November 2022 |
| Basis of Allotment Date | 17 November 2022 |
| Initiation of Refunds | 18 November 2022 |
| Credit of Shares to Demat Account | 21 November 2022 |
| IPO Listing Date | 22 November 2022 |
Kaynes Technology IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | 1 | 25 | 14,675 |
| Maximum | 13 | 325 | 1,90,775 |
Competitive Strengths
- Internet of Things (“IoT”) solutions enabled integrated electronics manufacturing player with end-to-end capabilities across the Electronics System Design and Manufacturing spectrum.
- Diversified business model with portfolio having applications across industry verticals.
- Long-standing relationships with marquee customer base.
- Global certifications for each industry vertical catered to and multiple facilities across India with advanced infrastructure.
- Strong supply chain and sourcing network.
- Track record of consistent financial performance.
- Experienced Promoters and senior management with extensive knowledge of the sector.
Company Promoters
- Ramesh Kunhikannan
- Savitha Ramesh
- RK Family Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2019 | 366.59 | 353.03 | 9.72 |
| 31 March 2020 | 370.16 | 358.88 | 9.35 |
| 31 March 2021 | 424.66 | 413.79 | 9.73 |
| 31 December 2021 | 471.92 | 441.99 | 21.82 |
| 31 March 2022 | 710.35 | 651.32 | 41.67 |
| 30 June 2022 | 199.97 | 186.53 | 10.04 |
Object Of The Issue
- Repayment/ prepayment, in full or part, of certain borrowings availed by our Company;
- Funding capital expenditure towards expansion of our existing manufacturing facility at Mysore, Karnataka, and near our existing manufacturing facility at Manesar, Haryana;
- Investment in our wholly owned Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka;
- Funding working capital requirements of our Company; and
- General corporate purposes.
Kaynes Technology IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Dixon Technologies Limited | 162.81 |
| 2 | 1 | Amber Enterprises India Limited | 144.70 |
Kaynes Technology IPO Strengths
- Diversified business model with portfolio having applications across industry verticals.
- Long-standing relationships with marquee customer base.
- Strong supply chain and sourcing network.
- Track record of consistent financial performance.
Kaynes Technology IPO Risks
- Kaynes Technology India business is reliant on the sale of their customers products, and the loss of one or more of these clients, or a decrease in demand for their products, could have a negative impact on their operations.
- Their intended capacity expansion plans for their production plants are vulnerable to unanticipated implementation delays and cost overruns.
- They must meet stringent quality standards, as well as customer inspections and audits, and any failure to do so may result in the cancellation of current and future orders, as well as a negative influence on their reputation.
- Their products have received a number of quality certifications. Their failure to renew these accreditation on time could have a negative influence on their firm.
Kaynes Technology IPO Promoter Holding
| Pre Issue Share Holding | 79.78% |
| Post Issue Share Holding | 67.39% |
Kaynes Technology IPO Prospectus
Company Contact Information
| Kaynes Technology India Limited 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 Limited C-101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli West, Mumbai 400 083 Maharashtra, India Tel: +91 22 4918 6200 E-mail: kaynes.ipo@linkintime.co.in Website: www.linkintime.co.in |
Kaynes Technology IPO Lead Manager(s)
| 1. DAM Capital Advisors Limited 2. IIFL Securities Limited |
Kaynes Technology IPO FAQs
| What is Kaynes Technology IPO? Kaynes Technology IPO is a main-board IPO. The issue is priced at ₹559 to ₹587 per equity share. The IPO is to be listed on BSE & NSE. |
| When Kaynes Technology IPO will open? The IPO is to open on 10 November 2022 for QIB, NII, and Retail Investors. |
| What is Kaynes Technology IPO IPO Investors Portion? The investors’ portion for QIB-50%, NII-15%, and Retail 35%. |
| How to Apply the Kaynes Technology IPO IPO? You can apply Kaynes Technology IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Kaynes Technology IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Kaynes Technology”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Kaynes Technology IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Kaynes Technology”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Kaynes Technology IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Kaynes Technology”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Kaynes Technology IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Kaynes Technology”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Kaynes Technology IPO Size? Kaynes Technology IPO size is ₹856.32 Crore. |
| What is Kaynes Technology IPO Price Band? Kaynes Technology IPO Price Band is ₹559 to ₹587. |
| What is Kaynes Technology IPO Minimum and Maximum Lot Size? The minimum bid is 25 Shares with ₹14,675 amount while the maximum bid is 325 shares with ₹1,90,775. |
| What is the Kaynes Technology IPO Allotment Date? Kaynes Technology IPO allotment date is 17 November 2022. |
| What is the Kaynes Technology IPO Listing Date? Kaynes Technology IPO listing date is 22 November 2022. The IPO is to list on BSE and NSE. |
