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