Kaynes Technologies Shares End At 17.56% Premium Over IPO Price On Market Debut
Kaynes Technologies shares got listed at Rs 775 apiece on the BSE and at Rs 778 on the NSE, versus its IPO price of Rs 587 apiece.
The shares of Kaynes Technologies Ltd. ended at a premium of 17.56% over the IPO price, while declining 10.95% from its listing price to end at Rs 690.10.
Kaynes Technologies launched its three-day initial public offering on Nov. 10. It received a strong response, with the issue being subscribed 34.16 times. The QIB portion was subscribed 98.47 times, the non-institutional investor portion 21.21 times, retail portion 4.1 times and employee portion 11.92 times.
Shares of Kaynes Technologies listed at Rs 775 apiece on the BSE Ltd., a premium of 32.03% to its IPO price of Rs 587 apiece. On the National Stock Exchange of India Ltd., the stock debuted at Rs 778 a 32.54% premium.
The company is an end-to-end and IoT solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing services.
The electronic manufacturing is profitable and expects its margins to improve in the near term to cross 15% levels.