Mysore based technology company Kaynes Technology filed its draft red herring prospectus (DRHP) with stock market regulator SEBI for coming up with IPO. It plans to raise rupees 650 crore by going public. There will be over 7 crore equity shares for sale during this IPO. The draft files state that 1.5 crore shares will be reserved for employees during the IPO.
Kaynes Technology India Limited (KTIL), is an end-to-end and IOT (Internet of Things) solutions enabled integrated electronics manufacturing player. It has experience in providing electronics system design & manufacturing services, 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, Internet of Things, information technology (IT) and other segments. Company has eight plants located at Karnataka, Haryana, Himachal Pradesh, Tamil Nadu and Uttarakhand. As of December-2021, it has reported production capacity of over 600 million components.
The company posted a revenue of Rs. 420.63 crore and net profit of Rs. 9.73 crore for financial year 2021. IIFL Securities and DAM Capital Advisors are the book-running lead managers to the public issue.
