Kaynes Technology India’s Rs 858 crore IPO will open for public subscription on November 10. The IoT-enabled integrated electronics solutions maker has fixed the price range for its public offering at Rs 559 to Rs 587 per share. This offering will close on November 14. Investors can bid for at least 25 shares in multiples of 25.

The IPO includes an issue of new shares totalling Rs 530 crore and a sale offer of up to Rs 328 crore from promoters and existing shareholders. The company has also made a pre-IPO placement of up to Rs 130 crore, including a private placement of Rs 80 crore of shares to Acacia Banyan Partners and a placement of Rs 50 crore to Volrado Venture Partners Fund.

Kaynes Technology provides design-led electronics manufacturing services to original equipment manufacturers. In the go-to-market segment, Kaynes Technology competes with Dixon Technologies India, Syrma SGS Technology and Amber Enterprises India.

On June 30, 2022, Kaynes Technology had an order value of Rs 2,266.26 crore. The company posted a profit after tax of Rs 41.68 crore in FY22 compared to Rs 9.73 crore in the previous year, while revenue in FY22 rose 67.9% to Rs 706.24 crore from Rs 420.63 crore last year. DAM Capital Advisors and IIFL Securities are the bankers on this issue.