Kaynes Technology IPO listing today: Kaynes Technology India makes a strong debut, lists 32% higher from issue price

Kaynes Technology IPO GMP today: The scrip of IoT solutions-enabled integrated electronics manufacturer Kaynes Technology India got listed at Rs 778.00 apiece on the NSE, thereby registering a gain of 32.54 per cent from its offer price of Rs 587.00.

Kaynes Technology, IPO, GMP, Share Price, Listing Date

Kaynes Technology IPO Date: Kaynes Technology India is an end-to-end and IoT solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing services. (Representative image: Pixabay)

Kaynes Technology IPO Date, Price, Review: Shares of IoT solutions-enabled integrated electronics manufacturer Kaynes Technology India made a strong debut on Tuesday, getting listed at a premium of over 32 per cent from their issue price on the stock exchanges.

The scrip got listed at Rs 778.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 32.54 per cent from its offer price of Rs 587.00, while on the BSE, it opened at Rs 775.00, up 32.03 per cent from the issue price.

The stock further rose from its opening levels and touched a high of Rs 787.00 on the BSE and Rs 786.00 on the NSE during the first 30 minutes of trade.

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At 10:30 am, the scrip was trading at Rs 677.50 on the BSE, up 15.42 per cent from the issue price while on NSE it was at Rs 685.10, up 16.71 per cent. The market capitalisation stood at Rs 3,935.37 crore, data from the BSE showed.

Over 1.02 crore shares of Kaynes Technology India were traded so far on NSE while around 5.70 lakh shares have exchanged hands on the BSE, data from the respective stock exchange showed.

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

Commenting on the listing, Pravesh Gour, Senior Technical Analyst at Swastika Investmart, said, “Kaynes Technology has reported strong financial growth, especially in recent years, and its margins have also improved significantly. It has a diversified business and customer profile and robust expansion in the order book; So, allottees who applied for the public issue for listing premium are advised to maintain a stop loss at Rs 710 and wait for further upside whereas those who have medium to long-term perspective can hold the stock maintaining a stop loss at Rs 680.”