Latest news with #Institutional
Mint
10 hours ago
- Business
- Mint
Kaynes Technology shares surge 4% as QIP launch aims to raise ₹1,600 crore
Shares of Kaynes Technology rose 4 percent in intra-day trading on Friday, June 20, following the launch of its Qualified Institutional Placement (QIP) issue to raise up to ₹ 1,600 crore. The semiconductor and electronics systems design and manufacturing company opened its QIP on Thursday, setting a floor price of ₹ 5,625.75 per share, a marginal 0.3 percent premium over Thursday's closing price. The fundraising is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital. Kaynes Technology India has projected revenue of ₹ 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6 percent. The company's confidence is backed by a strong order book and expansion into new business areas. Jairam Sampath, Whole-Time Director and CFO, underlined the export growth opportunity. 'We will have some US major company orders getting executed. We will start doing additionally about ₹ 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' Sampath said. Adding to its global footprint, Kaynes' subsidiary, Kaynes Semicon Pvt Ltd, recently signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd. The deal, valued at 1.59 billion Japanese yen, includes the acquisition of production lines for power modules, further solidifying the company's expansion into semiconductor manufacturing. Despite Kaynes' bullish outlook, brokerage CLSA issued a cautionary note last month. While it raised its price target to ₹ 6,230 from ₹ 5,400, it downgraded the stock to 'Hold' from 'Outperform'. The rating adjustment followed the company's strong Q4 results, marked by improved margins, though the growth figures came in slightly below CLSA's expectations. CLSA pointed to increased working capital requirements as a drag on operating cash flow (OCF), though it anticipates this issue will normalise in the coming quarters. The brokerage also noted Kaynes' strategic focus on emerging segments such as Outsourced Semiconductor Assembly and Test (OSAT) services and bare board manufacturing, which are expected to contribute meaningfully to revenues from the end of FY26. While CLSA acknowledged the timely execution of these projects could act as catalysts for stock performance, it flagged that the recent sharp rise in stock price warranted some caution, hence the downgrade. On Friday, Kaynes Technology's stock climbed as much as 3.9 percent to ₹ 5,825.50. The stock remains over 25 percent below its 52-week high of ₹ 7,824.95, touched in January 2025, and well above its 52-week low of ₹ 3,729.70, seen in July 2024. Over the last one year, the stock has advanced more than 45 percent. However, it has lost 5 percent in June so far, following three consecutive months of gains—up 4 percent in May, 21 percent in April, and 14.5 percent in March. Before that, it saw a 13.5 percent decline in February and a steep 35 percent correction in January.
Mint
11 hours ago
- Business
- Mint
Kaynes Technology shares surge 4% as QIP launch aims to raise ₹1,600 crore
Shares of Kaynes Technology rose 4 percent in intra-day trading on Friday, June 20, following the launch of its Qualified Institutional Placement (QIP) issue to raise up to ₹ 1,600 crore. The semiconductor and electronics systems design and manufacturing company opened its QIP on Thursday, setting a floor price of ₹ 5,625.75 per share, a marginal 0.3 percent premium over Thursday's closing price. The fundraising is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital. Kaynes Technology India has projected revenue of ₹ 4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6 percent. The company's confidence is backed by a strong order book and expansion into new business areas. Jairam Sampath, Whole-Time Director and CFO, underlined the export growth opportunity. 'We will have some US major company orders getting executed. We will start doing additionally about ₹ 200–300 crore of exports. These are US- and Europe-based companies in both aerospace and automotive segments,' Sampath said. Adding to its global footprint, Kaynes' subsidiary, Kaynes Semicon Pvt Ltd, recently signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd. The deal, valued at 1.59 billion Japanese yen, includes the acquisition of production lines for power modules, further solidifying the company's expansion into semiconductor manufacturing. Despite Kaynes' bullish outlook, brokerage CLSA issued a cautionary note last month. While it raised its price target to ₹ 6,230 from ₹ 5,400, it downgraded the stock to 'Hold' from 'Outperform'. The rating adjustment followed the company's strong Q4 results, marked by improved margins, though the growth figures came in slightly below CLSA's expectations. CLSA pointed to increased working capital requirements as a drag on operating cash flow (OCF), though it anticipates this issue will normalise in the coming quarters. The brokerage also noted Kaynes' strategic focus on emerging segments such as Outsourced Semiconductor Assembly and Test (OSAT) services and bare board manufacturing, which are expected to contribute meaningfully to revenues from the end of FY26. While CLSA acknowledged the timely execution of these projects could act as catalysts for stock performance, it flagged that the recent sharp rise in stock price warranted some caution, hence the downgrade. On Friday, Kaynes Technology's stock climbed as much as 3.9 percent to ₹ 5,825.50. The stock remains over 25 percent below its 52-week high of ₹ 7,824.95, touched in January 2025, and well above its 52-week low of ₹ 3,729.70, seen in July 2024. Over the last one year, the stock has advanced more than 45 percent. However, it has lost 5 percent in June so far, following three consecutive months of gains—up 4 percent in May, 21 percent in April, and 14.5 percent in March. Before that, it saw a 13.5 percent decline in February and a steep 35 percent correction in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 days ago
- Business
- Mint
Sebi mandates top personnel to hold shares in Demat form ahead of IPO — Key takeaways from regulator's board meeting
India's capital markets regulator, the Securities and Exchange Board of India (SEBI), approved a series of proposals on Wednesday, 18 June 2025, to ease and clarify market regulations for investors and corporates. 1. Demat mandate: Sebi approved the mandate that select shareholders, including directors and key managerial personnel, hold their shares in the company in Demat form before filing for an initial public offering (IPO). Earlier, Sebi proposed this new mandate to reduce the inefficiencies and risks associated with physical share certificates, including loss, theft, forgery, and delays in transfer and settlement. 'In spite of several regulatory mandates and facilitation mechanisms being in place, there remains a significant volume of holding of physical shares even among critical pre-IPO shareholders, such as directors, Key Managerial Personnel (KMPs), senior management, selling shareholders, and even Qualified Institutional Buyers (QIBs). This leaves a regulatory gap that allows a good volume of physical shares to continue existing post-listing,' reported Mint earlier, citing the Sebi consultation paper. Before the new mandate, Sebi rules required specific securities owned by the promoters to be in dematerialised form before the company filed its draft papers for an IPO. 2. ESOPs for founders: Sebi allowed startup founders to retain Employee Stock Ownership Plan (ESOPs) even after the company is listed post an IPO. Before this new update, founders were converted into promoters, hence making them ineligible for the ESOPs. Sebi aims to recognise the role of founders through this step, and also directed that in order to avoid a misuse of this grant, there will be a one-year cooling period between ESOP grants and IPO draft papers filing. 3. Delisting of PSUs: Sebi also approved that PSUs can now voluntarily delist themselves in line with the Indian government's disinvestment agenda. This grants the companies the ease in operations as compared to earlier. According to another Mint report, the government has been planning strategic exits as part of its broader economic agenda; hence, the new delisting norms will improve the efficiency of the disinvestment process of listed PSU firms. 4. AIF co-investments: The markets regulator also approved a new mandate which offers Alternative Investment Funds (AIFs) co-investment opportunities to access high-quality deals. The new mandate will give AIF investors an opportunity to make additional investments in the same unlisted companies where the AIF has invested. 5. Simplified framework for FPIs: Sebi, on 18 June 2025, also simplified the framework for foreign portfolio investors (FPIs) who are investing in Indian bonds. This move is likely to make India more attractive to long-term global capital due to the lower-risk nature of sovereign debt and the easing of registration and compliance regulations.
Mint
3 days ago
- Business
- Mint
Oswal Pumps IPO subscribed 34.42 times on Day 3; Check latest GMP, subscription status, other details
Haryana-based manufacturer and distributor of pumps, Oswal Pumps Limited's initial public offering (IPO) received a strong response on the final day of the public subscription. The issue was subscribed 34.42 times on the third day as the bidding closed on Tuesday, 17 June 2025. The company offered a book-built issue consisting of a fresh issue of 1.45 crore shares, amounting to ₹ 890 crore, and an offer-for-sale (OFS) of 0.81 crore shares, amounting to ₹ 497.34 crore. The company plans to raise ₹ 1,387.34 crore from the Indian stock market. Out of the three bidding segments, the Qualified Institutional Buyers (QIBs) subscribed to the IPO the most, coming in at 88.08 times, as investors bid for 40,01,38,176 or over 40.01 crore equity shares compared to the 45,43,116 shares on offer. The Non-Institutional Investors (NIIs) followed the QIB lead, coming in at 36.70 times subscription as investors bid for 12,84,70,944 or 12.84 crore equity shares compared to the 35,00,959 shares on offer. The retail segment witnessed 3.6 times bidding as investors subscribed for 2,94,33,576 or 2.94 crore shares, compared to the 81,68,905 shares on offer. As of Tuesday, 17 June 2025, the grey market premium (GMP) of the Oswal Pumps IPO stood at ₹ 72 per share. With the upper price band at ₹ 614, the shares are expected to be listed at ₹ 686 per share with a premium of 11.73 per cent, according to data collected from The Grey Market Premium (GMP) is an indicator of investors' willingness to subscribe to a primary issue. After the final day of bidding, the GMP jumped by ₹ 16 to its current level of ₹ 72 per share, compared to ₹ 56 apiece on Monday. Oswal Pumps IPO is a combination of a fresh issue of 1.45 crore equity shares worth ₹ 890 crore, and an offer-for-sale (OFS) component of 81 lakh shares amounting to ₹ 497.34 crore. The company fixed the price band of the public offer in the range of ₹ 584 to ₹ 614 per share, with a lot size of 24 shares per lot. IIFL Capital Services, Axis Capital, CLSA India, JM Financial, Nuvama Wealth Management are the book-runners for the public issue, while MUFG Intime India (Link Intime) is the registrar of the public offer. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
3 days ago
- Business
- Mint
Monolithisch India IPO allotment date in focus. Latest GMP, steps to check share allotment status online for SME IPO
Monolithisch India IPO Allotment: The initial public offering (IPO) of Monolithisch India, a manufacturer of specialized 'ramming mass', a heat insulation refractory, received stellar demand. As the bidding period has ended, investors will now focus on Monolithisch India IPO allotment date which is likely today. The SME IPO was open for subscription from June 12 to June 16. Monolithisch India IPO allotment date is expected to be today, June 17, and the IPO listing date is likely June 19. The company will soon finalise the Monolithisch India IPO allotment status. Once the Monolithisch India IPO allotment status is fixed, the company will then credit the equity shares into the demat accounts of eligible allotment holders, and initiate refunds to the unsuccessful bidders. Investors can check Monolithisch India IPO allotment status online though the NSE website or the official portal of the IPO registrar. Kfin Technologies is the Monolithisch India IPO registrar. In order to do a Monolithisch India IPO allotment status check online, investors must follow the few simple steps mentioned below: Step 1] Visit IPO registrar's website on this link - Step 2] Choose 'Monolithisch India Limited' in the Select IPO dropdown menu Step 3] Select either Application No, Demat Account, or PAN Step 4] Enter the details as per the option selected Step 5] Enter the Captcha code and click on Submit Your Monolithisch India IPO allotment status will be displayed on the screen. Monolithisch India shares are showing a bullish trend in the unlisted market, with a strong grey market premium (GMP). Monolithisch India IPO GMP today is ₹ 40 per share, according to stock market experts. Monolithisch India IPO GMP today indicates that the equity shares are estimated to be listed at ₹ 183 apiece on the NSE SME, which is at a premium of 27.97% to the issue price of ₹ 143 per share. The bidding for Monolithisch India IPO commenced on Thursday, June 12, and concluded on Monday, June 16. Monolithisch India IPO allotment date is likely today, June 17, and the IPO listing date is estimated to be June 19. Monolithisch India IPO is an SME IPO and the equity shares of the company will be listed on NSE Emerge, a platform for SME companies. Monolithisch India IPO price band was fixed as ₹ 143 per share. The company raised ₹ 82.02 crore from the book-building issue which was entirely a fresh issue of 54.48 lakh shares Monolithisch India IPO was subscribed 182.89 times in total. The public issue received 94.71 times subscription in the retail category, 129.20 times booking in the Qualified Institutional Buyers (QIB) portion, and 459.99 times in the Non-Institutional Investors (NII) category. Hem Securities is the book-running lead manager of the Monolithisch India IPO, while Kfin Technologies is the IPO registrar. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
