Kaynes Technology India Limited has submitted its statement on the utilization of funds raised through Qualified Institutional Placements (QIPs). For the quarter ended June 30, 2026, the company confirmed that there were no deviations or variations in the deployment of funds from its QIP issues. This statement has been duly reviewed by the Audit Committee and the Board of Directors.
Statement on Fund Utilization
Kaynes Technology India Limited has issued a confirmation regarding the utilization of funds raised through its Qualified Institutional Placement (QIP) offerings. This statement is in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Quarterly Update: No Deviations
For the financial quarter that concluded on June 30, 2026, Kaynes Technology has reported that there were no deviations or variations in how the proceeds from its QIP issues were utilized. The company has undergone review processes, with the statement being examined by both the Audit Committee and the Board of Directors. The Audit Committee’s review was completed, and their comments were noted as “No comments.” Similarly, the auditors also provided “No comments” on the matter.
Details of Fund Raising
The company had two QIP issuances on record: one on December 21, 2023, monitored by ICRA Limited, and another on June 24, 2025, monitored by CRISIL Limited. The aggregate amount raised was substantial, with ₹1399,99,98,648.00 from the first tranche and ₹1599,99,92,766.00 from the second. The detailed breakdown of fund allocation for the first QIP shows allocations for the establishment of OSAT and PCB facilities, as well as general corporate purposes, with funds utilized aligning with the original allocation. Similarly, the second QIP allocated funds for repayment of indebtedness, working capital, inorganic growth opportunities, and general corporate purposes, with utilization matching allocations.
The full statement, including the certificate of deviation or variation, has been enclosed with this submission. The information is also available on the company’s website, www.kaynestechnology.co.in.
Source: BSE
