Kaynes Technology India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
KAYNES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kaynes Technology India has confirmed no deviations or variations in fund utilization for two Qualified Institutional Placements. The first QIP (December 2023) raised Rs 1,399.99 crore primarily for OSAT and PCB facility establishment with Rs 12,422.68 million utilized out of Rs 13,740 million. The second QIP (June 2025) raised Rs 1,599.99 crore for debt repayment, working capital, and acquisitions with Rs 13,874.32 million utilized out of Rs 15,749.66 million. The audit committee and auditors have provided no comments, indicating standard fund deployment with some amounts still in the process of being deployed.
This is a positive confirmation showing proper fund management with no misuse of proceeds. Funds are being deployed as stated in the QIP documents, which is reassuring for investors regarding corporate governance and capital allocation discipline.