Kaynes Technology shares rise 4% after launching Rs 1,600-crore QIP
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Kaynes Technology shares climbed as much as 3.9% on Friday to Rs 5,825.50 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. Also Read: These 9 Nifty Microcap Index stocks trading below industry PE may rally up to 42% 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. Live Events Jairam Sampath, Whole-Time Director & CFO, said the company anticipates robust export grow...