Kaynes Technology India Shares Plummet 2% Amid QIP Issue Launch

Mumbai, June 19: Semiconductor manufacturing company Kaynes Technology India Ltd has launched its qualified institutional placement (QIP) issue to raise up to ₹1,600 crore, according to sources privy to the developments. The company has set a floor price of ₹5,625.75 per share, with an indicative price range between ₹5,344 and ₹5,612 per share, representing a discount of up to 4.8% from the floor price.

The QIP is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital. The issue aims to increase capital and support the company's future growth plans.

Kaynes Technology India has projected revenue of about ₹4,525 crore for the financial year 2025-26 (FY26) and expects its EBITDA margin to improve by 50 basis points to 15.6% due to a strong order book and new business opportunities.

Whole Time Director & CFO Jairam Sampath expressed optimism about export growth, stating that orders from US major companies are expected to get executed, with exports valued at around ₹200-300 crore. The company's OSAT and PCB businesses, which are primarily export-oriented, are also likely to see strong growth.

The shares of Kaynes Technology India Ltd closed at ₹5,606.80 on the BSE, down by ₹114.45 or 2% compared to the previous trading day.