Kaynes Technology to expand in Mysuru & set up an electronics manufacturing facility in Chamarajanagar

Mysuru-based ESDM firm Kaynes Technology goes public to fund its expansion plans

Kaynes Technology to go Public

Mysuru based Electronics system design & manufacturing (ESDM) company – Kaynes Technology India Limited, is listing on the Bombay stock exchange (BSE) and National stock exchange (NSE) on 22-Nov-2022.

The company intends to raise INR 858 Crores from the public & utilize the Net Proceeds towards funding the following objects:

1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company.

2. Funding capital expenditure towards the expansion of the existing manufacturing facility at Mysore, Karnataka, and near the existing manufacturing facility at Manesar, Haryana.

3. Investment in the wholly owned Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka. (Rs 149.3 Crore)

4. Funding working capital requirements of the Company.

5. General corporate purposes.

Kayne’s technology expansion plans 

Kaynes Technology has eight manufacturing facilities located in Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand. To support its growth strategy across India, the firm intends to set up an additional manufacturing facility at Chamarajnagar, Karnataka, and undertake significant expansion at their current facility at Mysore and near their existing facility at Manesar.

The below table sets forth further information relating to the proposed manufacturing facilities.

The company proposes to utilize INR 248.23 crores of Net Proceeds towards (i) expansion of their existing facility at Mysore, Karnataka, and near the existing facility at Manesar, Haryana, and (ii) investment in the wholly-owned Subsidiary, Kaynes Electronics Manufacturing Private Limited, for setting up a new facility at Chamarajanagar, Karnataka.

About Kaynes Technology India Ltd

Mysuru-based Kaynes Technology Ltd was founded in 1988, and over the years the company metamorphosized into a leading end-to-end IoT solution-enabled, a fully integrated electronic manufacturing company having capacities across the ESDM spectrum.

The company has 3 decades of varied experience in providing “conceptual design”, offering “process engineering”, “integrated manufacturing” and “Life cycle support” services for major MNCs across Automotive, Industrial, Aerospace, Defense & Outer space, Nuclear, Medical, and Railway domains.

Its registered office is located in Belagola industrial area in Mysuru and its marketing office is based out of Bangalore. Also, their first manufacturing unit was started way back in 1988 in Mysuru.

Profitability

Since its inception, the company has been making profits, thus establishing the fact that “if done well, ESDM business can be very lucrative and rewarding for the founders”.

The last 3 years’ financial performance is as follows

Conclusion

Since its inception Kaynes technology has been at the forefront of making “Atma Nirbhartha” a success.

The services they have been offering are hitherto Indian and most of their clients are foreign MNCs. This explains how and why their profits are high.

The founders proved that “If one has self-belief and burning passion for what he does, then the sky’s the limit”. Success will come looking for him.