India's leading end-to-end and IoT (Internet of Things) solutions-enabled integrated electronics manufacturer Kaynes Technology will hit Dalal Street today after a successful initial public offering (IPO) run. The 858 crore IPO was 34.16 times oversubscribed
Kaynes Technology IPO: The quota for qualified institutional buyers (QIBs) got subscribed 98.47 times while the category for non-institutional investors was subscribed 21.21 per cent. The portion for Retail Individual Investors (RIIs) received 4.09 times subscription and that for employees got subscribed 11.89 times.
Kaynes Technology has received a 'subscribe' rating from Ventura Securities with a price target of Rs 675 based on 30 times FY25 EPS, which represents a potential upside of 15% over the IPO price in 18 months
Kaynes Technology competes with Dixon Technologies India, Syrma SGS Technology and Amber Enterprises India. It had an order book of Rs 2,266.26 crore, as of June 30