KAYNES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kaynes Technology filed its quarterly monitoring agency report for QIP proceeds utilization. Two QIPs are being tracked: a December 2023 QIP of Rs 1,374 crore monitored by ICRA, and a June 2025 QIP of Rs 1,600 crore monitored by CRISIL Ratings. Both agencies confirmed no material deviation from the stated objects of the issue. For the 2023 QIP, Rs 1,242.27 crore (90%) has been utilized, with Rs 131.73 crore remaining parked in fixed deposits. The OSAT facility is on schedule while the PCB facility is completed. For the 2025 QIP, Rs 1,410.95 crore (88%) has been deployed, primarily for debt repayment (fully utilized), working capital (fully utilized), and inorganic growth initiatives (Rs 1,228.42 crore of Rs 1,600 crore deployed). Unutilized proceeds are invested in liquid funds and monitoring accounts.
Positive signal for shareholders as both independent monitoring agencies confirm proper utilization of approximately Rs 2,850 crore in QIP proceeds with no material deviations. The company is on track with its capital deployment plan, including debt repayment and acquisition strategies.