Kaynes Technology QIP: Firm to raise ₹1,600 crore, sets floor price at ₹5,625.75 apiece; shares in focus

The fundraising plan was approved by the company's board on January 22 and by shareholders on February 14, the company said in a regulatory filing.

The fundraising committee, at its meeting held on June 19, inter alia, passed resolutions for opening of the issue today and approving the floor price for the issue, being ₹5,625.75 per equity share (floor price)," the filing said.

The company plans to use the fresh funds for expansion overseas and deepening its technology footprint through organic and inorganic routes as part of its plan to achieve $1 billion in revenue by 2028.

The company is setting up a semiconductor assembly and testing plant with a capital expenditure of ₹3,300 crore, out of which 50% will be funded by the Centre and 25% by the state government.

Kaynes Technology: Recent Developments

On June 4, a promoter of the Mysuru-based Kaynes Technology India divested a 1.8% stake in the company for ₹624 crore through open market transactions.

According to the bulk deal data, promoter Ramesh Kunhikannan sold 6.25 lakh shares of Kaynes Technology India on the NSE and offloaded 5 lakh shares of Kaynes on the BSE—a cumulative 1.8% stake in the company.

The shares were disposed of in the price range of ₹5,550.87-₹5,553.03 apiece, taking the combined transaction value to ₹624.58 crore.

After the latest transaction, Kunhikannan's stake in Kaynes Technology India has reduced to 55.91% from 57.71%.

Kaynes Technology: Financials

Meanwhile, in the January-March quarter of 2025 (Q4FY25), Kaynes Technology reported a revenue of ₹984 crore, a net profit of ₹116 crore and a margin of 17.1%.

Additionally, the semiconductor manufacturer said it was projecting revenue of about ₹4,525 crore for the financial year 2025-26 (FY26). The earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin is expected to improve 50 basis points to 15.6%, supported by a strong order book and the execution of new business opportunities, per a report by CNBC TV18.