Key Highlights

• Kaynes Technology shares surged nearly 4%, reaching ₹5,825 after launching a ₹1,600 crore QIP on June 19.
• QIP floor price set at ₹5,625.75 per share; funds will support expansion in semiconductors and exports.

Kaynes Technology shares rose as much as 3.9% to Rs 5,825.50 on Friday, after the semiconductor manufacturing company launched a qualified institutional placement (QIP) offering on Thursday to raise up to Rs 1,600 crore.

The company has set a floor price of Rs 5,625.75 per share, according to media reports. The QIP's price range is reportedly between Rs 5,344 and Rs 5,612 per share, representing a discount of up to 4.8% to the floor price.

Motilal Oswal Investment Advisors, Nomura, and Axis Capital are handling the transaction.

Kaynes Technology India expects revenue of around Rs 4,525 crore in FY26, with EBITDA margins expected to rise by 50 basis points to 15.6%, aided by a strong order book and new business initiatives.

Jairam Sampath, Whole-Time Director and CFO, stated that the company expects strong export growth in the coming quarters. "We will be executing orders from major US companies. We will start doing an additional Rs 200-300 crore of exports. These are companies based in the United States and Europe that operate in both the aerospace and automotive sectors," he said.

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Kaynes' OSAT (Outsourced Semiconductor Assembly and Test) and PCB (Printed Circuit Board) divisions, which are primarily export-oriented, are expected to contribute significantly to the company's international revenue.

Kaynes Semicon Pvt Ltd, a subsidiary of the company, recently signed an asset purchase agreement with Japan's Fujitsu General Electronics Ltd to acquire power module production lines. The transaction was valued at 1.59 billion Japanese yen.

Kaynes Technology shares closed 2.1% lower on the BSE at Rs 5,608.8. The stock has fallen 26% year to date, but has risen 45% in the last 12 months.