Kaynes Technology Stock Rises 17.5% On Debut


Kaynes Technology Stock Rises 17.5% On Debut

The IPO of Kaynes Technology had received 34.16 times subscription.(File)

New Delhi:

Shares of Kaynes Technology India today ended with a gain of 17.5 per cent in its debut trade against the issue price of Rs 587.

The stock made its debut at Rs 775, a jump of 32 per cent from the issue price on the BSE. During the day, it rallied to Rs 787, up 34 per cent from its issue price. Shares of the firm ended at Rs 690.10 per piece, up 17.56 per cent.

On the NSE, it was listed at Rs 778, a premium of 32.53 per cent. Later, the stock jumped 16.73 per cent to end at Rs 685.25 apiece.

In volume terms, 9.55 lakh shares of the firm were traded on the BSE and over 1.56 crore shares on the NSE during the day.

The Initial Public Offering (IPO) of Kaynes Technology India had received 34.16 times subscription.

The IPO comprises a fresh issue of Rs 530 crore and an offer for sale of up to 55,84,664 equity shares.

It had a price range of Rs 559-587 a share.

Mysore-based Kaynes Technology is a leading end-to-end and IoT (Internet of Things) solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing services.

It has an experience in providing 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, IoT, Information Technology (IT) and other segments.

The company has eight production plants in Karnataka, Haryana, Himachal Pradesh, Tamil Nadu and Uttarakhand.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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