Shares of Kaynes Technology India on Tuesday made a decent debut at the bourses.
After opening over 32 per cent higher at ₹775 (on the BSE) and at ₹778 (on the NSE), against the issue price of ₹587, the stock surrendered part of the gains on account of profit taking, to close at ₹690.10 (on the BSE) and at ₹685.25 (on the NSE). It recorded a gain of 17.56 per cent and 16.74 per cent on the BSE and NSE, respectively.
The stock witnessed a combined trading volume of 1.66 crore shares on both the exchanges.
About the company
The Mysore-based company is a leading end-to-end and IoT (Internet of Things) solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing services.
Integrated electronics manufacturing had raised ₹256.90 crore from 28 anchor investors by allotting 43.76 lakh shares at ₹587 a share. The investors included Malabar Investments, Ashoka Opportunities Fund (White Oak), Government Pension Fund Global, Nomura and Goldman Sachs.