Kaynes Technology India Limited has confirmed that there were no deviations or variations in the utilization of funds raised through its Qualified Institutional Placements (QIP) for the quarter and year ended March 31, 2026. The company successfully executed its planned capital allocation for two separate QIPs, one completed in December 2023 and the other in June 2025, with all expenditures aligning with the objectives previously disclosed to investors.
Successful Fund Utilization
Kaynes Technology has verified that the proceeds from its previous Qualified Institutional Placements (QIP) have been utilized strictly in accordance with their original objectives. As of the end of the financial year on March 31, 2026, both the Audit Committee and the Board of Directors have reviewed and certified that no deviations or variations occurred regarding the fund usage.
Breakdown of QIP Allocations
The company has maintained transparency regarding its capital expenditure across two primary fund-raising events. The December 2023 QIP saw funds directed toward the establishment of OSAT and PCB facilities, with ₹6,249.79 million and ₹3,072.89 million utilized respectively. Additionally, ₹3,100 million was allocated for general corporate purposes.
The June 2025 QIP focused on debt management and growth, with ₹8,412.61 million utilized for the repayment of outstanding indebtedness, ₹2,000 million for working capital requirements, and ₹1,228.42 million supporting inorganic growth opportunities, including strategic investments and joint ventures.
Strategic Financial Management
The monitoring agencies, ICRA Limited and CRISIL Ratings Limited, have overseen the process for the respective placements. The company confirms that all unutilized funds from these placements have been securely held in deposits with scheduled commercial banks, ensuring that capital remains available for its intended strategic growth projects in the upcoming quarters.
Source: BSE
