Incorporated in 2008, Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing company. The company provides conceptual design, process engineering, integrated manufacturing and life-cycle support for major players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things (“IoT”), Information Technology (“IT”) and other segments.The company is among the first companies in India to offer design-led electronics manufacturing to original equipment manufacturers (“OEMs”).
The company’s operations are classified under the following business verticals:
OEM – Turnkey Solutions – Box Build (“OEM – Box Build”).
OEM – Turnkey Solutions – Printed Circuit Board Assemblies (“PCBAs”) (“OEM – Turnkey Solutions”).
ODM: The company offers ODM services in smart metering technology, smart street lighting, and brushless DC (“BLDC”) technology.
Product Engineering and IoT Solutions: The company offer conceptual design and product engineering services in industrial and consumer segments.
Kaynes Technology operates eight manufacturing facilities across India in the states of Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand. As of June 30, 2022, the company’s research and development team comprised 19 employees, including engineers, designers and other workers. In nine months ended June 30, 2022, The company served 229 customers in 21 countries globally and multiple industry verticals such as automotive, aerospace and defence, industrial, railways, medical and IT / ITES. The company works with over 871 vendors and sources materials from various regions including North America, Europe, and Singapore as well as locally within India, As of June 30, 2022.
Objectives of the Issue:
The company proposes to utilise 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 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.
4. Funding working capital requirements of the Company.
5. General corporate purposes.
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