Kaynes Tech raises 2.6 bln rupees from anchor investors

Of the total shares allotted to anchor investors, 1.77 mln, or 40.4% of the total allocation, was to nine domestic mutual funds under 14 schemes

FPJ Web DeskUpdated: Thursday, November 10, 2022, 04:20 PM IST
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Kaynes Technology India Ltd has raised 2.56 bln rupees by allocating 4.38 mln equity shares | Image Credit: Wikipedia (Representative)

Mumbai: Mysore-based integrated electronics manufacturer Kaynes Technology India Ltd has raised 2.56 bln rupees by allocating 4.38 mln equity shares to 23 anchor investors. The company allocated the shares at 587 rupees, the upper end of its price band of 559-587 rupees.

Of the total shares allotted to anchor investors, 1.77 mln, or 40.4% of the total allocation, was to nine domestic mutual funds under 14 schemes.

Out of the 28 anchor investors, Volrado Venture Partners Fund grabbed the largest chunk of 11.68% of the total allocation.

Nomura Trust and Banking Co, IIFL Asset Management Ltd, Goldman Sachs, ICICI Prudential Mutual fund, Nippon Power and Infra Fund, Axis Mutual Fund, Eastspring Investments India, HDFC Mutual Fund, Aditya Birla Mutual fund, and Malabar India Fund Ltd were allocated 5.45% each.

Among the listed space, Kaynes Technology competes with Dixon Technologies Ltd and Amber Enterprises Ltd.

With inputs from Agencies

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