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Informist, Thursday, Jun. 19, 2025

--Kaynes Tech QIP opens Thu; floor price set at INR 5,625.75 per share

NEW DELHI – Kaynes Technology India Ltd. Thursday opened a shares issue through qualified institutions placement on approval by the company's fund raising committee, the company said in a stock exchange filing. Earlier, the company had taken shareholders approval to raise upto INR 16 billion through qualified institutions placement or on a preferential allotment basis.

Kaynes Technology said in Thursday's filing the floor price for the qualified institutions placement issue is INR 5,625.75 per share and the company has the discretion to give a further discount of upto 5% on the floor price. If the 5% discount is offer the discounted floor price will be around INR 5,344 per share. The record date for the issue is Thursday, according to the exchange filing.

Shares of the company have fallen sharply by 6.2% to INR 5,612 at close Thursday from INR 5,980 at the end of May on the National Stock Exchange. If the company issues shares to institutional investors at the discounted floor price of around INR 5,344 per share it will represent a 10.6% lower price as compared to the May-end price.  End

Reported by Rajesh Gajra

Edited by Deepshikha Bhardwaj

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