Kaynes Technology shares rise 4% after launching ₹1,600-crore QIP
Kaynes Technology shares climbed as much as 3.9% on Friday to ₹5,825.50 after the semiconductor manufacturing company opened its qualified institutional placement (QIP) issue on Thursday to raise up to ₹1,600 crore.
The company has set the floor price at ₹5,625.75 per share, according to media reports. The indicative price range for the QIP is reportedly between ₹5,344 and ₹5,612 per share, implying a discount of up to 4.8% to the floor price.
