Kaynes technology IPO Issue gets over 34% subscription on the last day; Experts anticipate THIS much GMP

New Delhi: Mysore-based Kaynes Technology India ltd has opened its Initial Public offering (IPO) on Thursday, November 10. On Monday, the IPO was subscribed 34.16 times on the final day of bidding. The quota for qualified institutional buyers (QIBs) got subscribed 98.47 times while the category for non-institutional investors was subscribed 21.21 times. The company has fixed the IPO price band for the issues between Rs 559 to 587 per share. Earlier, the company had collected Rs 257 crore from Anchor investors ahead of its initial share sale.

 Here are important details regarding IPO you should know:

Experts anticipate that Kaynes technology IPO GMP will be around Rs 130. The company kept the lot size of minimum 25 shares and multiple of 25 shares thereafter. Kaynes Technology IPO listing date is November 22, the company will be listed both in BSE and NSE.

he company has fresh issue size to Rs 530 crore and an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder.

Nomura, Goldman Sachs, ICICI Prudential Mutual Fund (MF), Axis MF, Aditya Birla Sun Life MF, Tata MF, HDFC MF and WhiteOak Capital are among the anchor investors, it added.

Kaynes technology is a leading end-to-end and IoT solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of Electronics system and design manufacturing (ESDM) company.

The company provides manufacturing and life-cycle support for players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things (IoT), etc.