Kaynes Technology India’s Rs 858 crore public issue was subscribed 34 times on Monday, the final day of bidding. In contrast to the 10.5 million shares offered, offers for 357.6 million shares were received.
The integrated electronics company with IoT (Internet of Things) solutions sold its stock in the ₹559-587 range.
The portion reserved for qualified institutional buyers was bid 98.47 times, while the non-institutional investor segment was bid 21.21 times. The retail investor portion received 4.09 times as much interest.
The IPO included a fresh issue of shares totaling 530 crore rupees and a selling offer by the promoter and other shareholders of up to 328 crore rupees.
The issue’s bankers were IIFL Capital Services and DAM Capital Advisors.
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