The company's board authorized and declared the opening of the issue on Monday, 18 December 2023.

The floor price of Rs 365.02 is at a discount of 5.91% to the previous day's closing price of Rs 2,603.95 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The firm said that the issue price will be determined by the company in consultation with the lead managers appointed for the issue.

Meanwhile, the company’s board has also approved the acquisition of Digicom Electronics for $2.5 million in order to expand in the USA.

The acquisition is expected to be completed on or before the conclusion of Q4 FY2024.

Kaynes Technology India (KTI) is an end-to-end and Internet of Things (IoT) solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services.

The company’s consolidated net profit jumped 53.9% to Rs 32.31 crore on 32.1% increase in net sales to Rs 360.85 crore in Q2 FY24 over Q2 FY23.