New Delhi, June 20 -- Shares of Kaynes Technology rose 4 percent in intra-day trading on Friday, June 20, following the launch of its Qualified Institutional Placement (QIP) issue to raise up to Rs.1,600 crore. The semiconductor and electronics systems design and manufacturing company opened its QIP on Thursday, setting a floor price of Rs.5,625.75 per share, a marginal 0.3 percent premium over Thursday's closing price.

The fundraising is being managed by Motilal Oswal Investment Advisors, Nomura, and Axis Capital.

Kaynes Technology India has projected revenue of Rs.4,525 crore for FY26, with EBITDA margins expected to improve by 50 basis points to reach 15.6 percent. The company's confidence is backed by a strong order book and expansi...