Kaynes Technology India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Kaynes Technology has confirmed to the stock exchanges that there were NO deviations or variations in the use of proceeds from its two Qualified Institutional Placements (QIPs) during the quarter and half year ended September 30, 2025. The first QIP of about Rs. 1,400 crore raised in December 2023 (monitored by ICRA) has deployed Rs. 837 crore so far — half of the OSAT facility allocation, roughly 49% of the PCB facility allocation, and the full Rs. 310 crore earmarked for general corporate purposes. The second QIP of about Rs. 1,600 crore raised in June 2025 (monitored by CRISIL) has deployed Rs. 950 crore — the entire Rs. 841 crore debt repayment is complete, while funds for working capital (Rs. 200 crore), inorganic growth (Rs. 30 crore used out of Rs. 160 crore), and general corporate purposes (Rs. 60 crore used out of Rs. 374 crore) are largely still pending deployment. The Audit Committee and Board reviewed and approved the report on November 4, 2025, with no adverse comments.
Clean, on-track fund usage is a positive governance signal for shareholders, showing discipline in capital deployment. However, investors should note that a large chunk of both QIP proceeds is still parked in fixed deposits and permitted investments, meaning the full growth benefit from the OSAT, PCB, and inorganic expansion plans is yet to play out on the income statement.