Kaynes Technology India jumps 34% in market debut

Kaynes Technology India

22/11/2022 08:07

(Updates shares, adds details)
    ** Shares of electronics manufacturer Kaynes Technology
India Ltd  KAYN.NS  jump as much as 33.9% to 786 rupees in
market debut
    ** KAYN shares open at 778 rupees, 32.5% above IPO price of
587 rupees in a muted broader market  .NSEI  
    ** The 8.58 bln rupee ($104.95 mln) IPO was subscribed 34X,
with institutional investors bidding for 98X the shares on
offer; retail portion saw 4.10X bids
    ** IPO consisted of fresh issue of shares worth 5.3 bln
rupees and a sale of nearly 5.6 mln shares by existing
shareholders; price band 559-587 rupees
    ** About 14 million shares change hands by 0726 GMT 
($1 = 81.7525 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))