The issue price reflects a 1% discount to the QIP floor price of ₹5,625.75, as determined under SEBI regulations. The QIP opened on June 19 and concluded on June 24, following receipt of applications and funds from eligible institutional buyers.
The Fund-Raising Committee of the company approved the allocation and finalised the placement document during its meeting on Tuesday evening.
The funds raised are expected to strengthen Kaynes Tech’s balance sheet and support its expansion plans across electronics manufacturing and design-led services.
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This marks another milestone for the Mysuru-based electronics and IoT firm, which has seen strong investor interest amid India’s manufacturing push. The final allocation note has been sent to institutional investors in line with regulatory norms.
Ahead of the announcement, shares of Kaynes Technology ended at ₹5,810.50 on the NSE, up 0.48% from the previous close.