Last day to subscribe Kaynes Technology India IPO

14 Nov 2022 , 10:28 AM

Kaynes Technology India Ltd IPO opened for subscription on Thruday, 10^th November and will be closing today, 14^th November, 2022. The investors can apply in a minimum lot size of 25 shares at a price band of Rs 559-587 per share.

The IPO got subscribed 1.34 times at 10 AM on Thrusday, 14^th November, 2022.

Kaynes Technology India IPO subscrition live status (10.09 AM on 14-11-2022)

Kaynes Technology	No. of shares reserved	No. of shares bid for	No. of times bid
Qualified Institutional Buyers (QIBs)	29,23,888	71,66,150	2.45
NIIs	22,55,858	24,72,050	1.10
RIIs	52,63,667	33,96,600	0.65
Employees	26,833	93,025	3.45
Total			1.34

(Source: BSE Live Subscription)

The company is using its net proceeds to repay the certain borrowings, to fund capital expenditure, to invest in its wholly owned subsidiary, Kaynes Electronics Manufacturing Private Limited and to fund working capital requirements.

The IPO includes fresh issue of Rs 530 crore and an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder. Kaynes Technology India Ltd shares are expected to list on November 22, 2022.

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