Kaynes Technologies closes over 17% premium on debut day

22 Nov 2022 , 04:00 PM

On Tuesday, Kaynes Technology closed at Rs689.95 per share higher by Rs102.95 or 17.54% on the NSE.

The stock is listed at Rs778 per share, with a premium of more than 32% as against its IPO price of Rs587 per share on the NSE.

Around early morning deals, Kaynes Technology shares started trading at Rs775 per share on the BSE. The shares are listed for trading and dealings under the ‘B’ group of securities.

The Rs858 crore IPO had received an oversubscription of 34.16 times with a strong appetite across investor categories.

The public issue is priced at a price band of Rs559 per share to Rs587 per share respectively having a face value of Rs10 each.

Kaynes is a Mysore-based company in electronics manufacturing and integrated solutions for the industrial, automotive, aerospace and defense, outer-space, medical, nuclear, railways, Internet of Things (IoT), IT & other sectors.

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