Kaynes Technology India Ltd

📈 Kaynes Tech QIP Funds Utilization Update

- Kaynes Technology India Limited submitted Monitoring Agency Reports for QIP proceeds utilization for the quarter ended March 31, 2026, as required by SEBI regulations.

- ICRA Limited monitored the QIP issued on December 21, 2023 (INR 1,400 crore), and CRISIL Ratings Limited monitored the QIP issued on June 24, 2025 (INR 1,600 crore).

- ICRA reported no material deviation in fund utilization for the QIP issued in 2023, with net proceeds of INR 1,374 crore after higher-than-expected issue expenses.

- Funds were allocated to: OSAT Facility (INR 756.71 crore, partially utilized), PCB Facility (INR 307.29 crore, fully utilized), and General Corporate Purposes (INR 310 crore, fully utilized).

- Unutilized funds of INR 131.73 crore for the OSAT Facility were temporarily invested in fixed deposits, earning returns around 6.5-7.1%.

- CRISIL reported no material deviation for the QIP issued in 2025, with net proceeds of INR 1,574.97 crore after issue expenses of INR 25.03 crore.

- Funds were allocated to: Repayment of debt (INR 841.26 crore, fully utilized), Working Capital (INR 200 crore, fully utilized), Inorganic Growth (INR 160 crore, partially utilized), and General Corporate Purposes (INR 373.71 crore, partially utilized).

- Unutilized funds of INR 1,890.53 crore were temporarily invested in mutual funds and fixed deposits, with total earnings of INR 56.09 crore.

- Both monitoring agencies confirmed no major deviations, delays, or adverse events affecting the utilization of proceeds, with all expenditures aligned with the offer documents.