Kaynes Technology shares in focus after launching Rs 1,600-crore QIP
Kaynes Technology
shares will be in focus on Friday after the
semiconductor manufacturing
company opened its qualified institutional placement (QIP) issue on Thursday to raise up to Rs 1,600 crore.
The company has set the floor price at Rs 5,625.75 per share, according to media reports. The indicative price range for the QIP is reportedly between Rs 5,344 and Rs 5,612 per share, implying a discount of up to 4.8% to the floor price.
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Motilal Oswal Investment Advisors, Nomura, and
Axis Capital
are managing the issue.
Kaynes Technology India
is projecting revenue of around Rs 4,525 crore for FY26, with
EBITDA margins
expected to improve by 50 basis points to 15.6%, supported by a strong order book and new business executions.
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Jairam Sampath, Whole-Time Director & CFO, said the company anticipates robust
export growth
in the coming quarters. 'We will have some US major company orders getting executed. We will start doing additionally about Rs 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' he said.
Kaynes' OSAT (Outsourced Semiconductor Assembly and Test) and PCB (Printed Circuit Board) divisions, both largely export-focused, are expected to contribute significantly to its international revenue.
Recently, the company's subsidiary, Kaynes Semicon Pvt Ltd, entered into an asset purchase agreement with Fujitsu General Electronics Ltd of Japan to acquire production lines for power modules. The transaction was valued at 1.59 billion Japanese yen.
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Shares of Kaynes Technology closed 2.1% lower at Rs 5,608.8 on the
BSE
. The stock has declined 26% year-to-date but has gained 45% in the past 12 months.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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