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 filed its Regulation 32 statement for the quarter ended June 30, 2025, confirming there were no deviations or variations in the use of proceeds from three fund raises. These are the November 2022 IPO of about Rs 1,600 crore, the December 2023 QIP of about Rs 1,400 crore, and a fresh QIP of about Rs 1,600 crore allotted on June 24, 2025, monitored by CRISIL. For the IPO, Rs 625.74 crore has been deployed against the original plan of Rs 625.74 crore, with just Rs 9.66 million left in the public issue account. For the December 2023 QIP, Rs 737.38 crore has been utilised so far against an original plan of Rs 1,374 crore, with funds earmarked for OSAT and PCB facilities at Mysuru and general corporate purposes. The newly raised June 2025 QIP has begun deployment with Rs 120 crore utilised against an allocation of Rs 987.82 crore. The statement was reviewed by the Audit Committee and Board at their July 30, 2025 meeting.
Clean Reg 32 compliance with no fund diversions is a positive signal for shareholders, reinforcing governance discipline. The recent Rs 1,600 crore QIP gives Kaynes significant fresh firepower to scale its OSAT, PCB and Mysuru/Manesar manufacturing capacity, which could support future revenue growth.