Kaynes Tech IPO subscribed 34x, Keystone receives 8% bid on Day 1 & more

Kaynes Tech reported a net profit of Rs 10.05 crore and net sales of Rs 199.27 crore in the three months ended on June 2022

Kaynes Tech offer subscribed 34x

The initial public offer (IPO) of Kaynes Technology India was subscribed 34.15 times as it concluded on Monday. The IPO received bids for 357.5 million shares against an offer size of 10.4 million shares. 

The issue was opened for bidding on Thursday. The firm has put its price band at Rs 559 to 587 per share. 

It aims to raise Rs 857.8 crore from the IPO of which about Rs 130 crore will be used for repayment of debts, Rs 98.93 crore for funding capital expenditure towards expansion of existing Mysure and Manesar facilities and Rs 149.3 crore for investment in a new facility in Karnataka. 

The company reported a net profit of Rs 10.05 crore and net sales of Rs 199.27 crore in the three months ended on June 2022.

Inox Green gets 85% subscribed on Day 2

The initial public offer (IPO) of Inox Green Energy Services received bids for 57 million shares as against 66.7 million shares on offer. So far, the IPO has been subscribed 85 per cent as it remains on offer till Tuesday. 

The price band of the IPO is fixed at Rs 61 to 65 per share. 

The wind power operation and maintenance service provider expects to raise Rs 740 crore. 

Of the net proceeds from the issue, the company plans to utilise about Rs 260 crore for repayment/pre-payment of debt in full or part of certain borrowings, including redemption of secured NCDs in full.

Keystone receives 8% bid on Day 1

On the first day of its Rs 635 crore initial public offer (IPO), Keystone Realtors received bids for 724,000 shares as against 8.64 million shares on offer. The issue was subscribed 8 per cent. It  will close on Wednesday. 

The price band of the IPO is fixed at Rs 514-541 per share. The offer comprises fresh issue as well as offer for sales (OFS). Fresh issue comprises issue of equity share aggregating upto Rs 560 crore. 

Keystone Realtors is one of the prominent real estate developers in Mumbai Metropolitan Region.

Darwinbox may go for IPO in 3 years

HR tech company Darwinbox,a unicorn, may go for an Initial Public Offering (IPO) in the next three years, its co-founder Rohit Chennamaneni said on Monday. 

Speaking to media persons in a press conference, he said the firm is expected to achieve profitability by 2025 with Indian operations becoming profitable by next fiscal. 

The promoters of Darwinbox currently hold more than 30 per cent stake in the company while the rest is held by investors, including TCV, Salesforce Ventures, Sequoia, Lightspeed and Endiya Partners.