Motilal Oswal Mutual Fund has increased its shareholding in Kaynes Technology India , a move that pushes its stake above the 5% threshold. The fund house acquired an additional 2,25,015 shares of the company through market transactions, bringing its total holding to 33,66,952 shares.

Stake Increase Details

The acquisition has resulted in Motilal Oswal Mutual Fund's stake in Kaynes Technology India rising from 4.69% to 5.03% of the company's equity share capital. This strategic move was executed through 17 different schemes managed by the fund house.

Diverse Fund Participation

The increased stake in Kaynes Technology India was spread across various Motilal Oswal Mutual Fund schemes, including:

• Motilal Oswal Focused Fund
• Motilal Oswal Midcap Fund
• Motilal Oswal Flexi Cap Fund
• Motilal Oswal ELSS Tax Saver Fund
• Motilal Oswal Nifty Smallcap 250 Index Fund
• Motilal Oswal Nifty 500 Index Fund
• Motilal Oswal Large and Midcap Fund
• Motilal Oswal Small Cap Fund
• Motilal Oswal Multi Cap Fund
• Motilal Oswal Manufacturing Fund

Additionally, several ETFs and index funds under the Motilal Oswal umbrella participated in this acquisition, showcasing a broad-based interest in Kaynes Technology India across different investment strategies.

Regulatory Compliance

The transaction was reported in compliance with the Securities and Exchange Board of India (SEBI) regulations for substantial acquisition of shares. Motilal Oswal Asset Management Company Limited, acting as the investment manager to Motilal Oswal Mutual Fund, filed the necessary disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Company Overview

Kaynes Technology India is listed on both the BSE Limited and the National Stock Exchange of India Limited. As per the latest filing, the company's total equity share capital stands at 6,69,57,093 shares with a face value of Rs. 10 each.

This increased investment by Motilal Oswal Mutual Fund may signal confidence in Kaynes Technology India's future prospects, although it's important to note that mutual fund investments are subject to market risks and can fluctuate based on various factors.

Kaynes Technology India Limited , a prominent player in the electrical equipment sector, has reported significant progress in the utilization of funds raised through its Initial Public Offering (IPO) and subsequent Qualified Institutional Placements (QIPs), according to recent monitoring agency reports.

IPO Proceeds Fully Utilized

The company's Initial Public Offering from November 2022, which raised net proceeds of INR 625.74 crore, has been fully utilized across five key objectives:

QIP Fund Utilization

Kaynes Technology India has also made substantial progress in deploying funds raised through two Qualified Institutional Placements:

1. December 2023 QIP:

   • Total raised: INR 1,374.00 crore
   • Utilized: INR 737.38 crore
   • Remaining unutilized: INR 636.62 crore

2. June 2025 QIP:

   • Total raised: INR 15,749.66 crore
   • Utilized: INR 1,200.00 crore
   • Remaining unutilized: INR 14,549.66 crore

Key Utilization Highlights

December 2023 QIP:

• INR 313.11 crore towards establishing an OSAT (Outsourced Semiconductor Assembly and Test) facility
• INR 114.27 crore for setting up a PCB (Printed Circuit Board) facility
• INR 310.00 crore for general corporate purposes

June 2025 QIP:

• INR 840.50 crore for repayment of outstanding indebtedness
• INR 311.09 crore for inorganic growth opportunities, including acquisitions
• INR 48.41 crore for general corporate purposes, primarily advance tax payments

Monitoring Agency Reports

ICRA Limited and CRISIL Ratings Limited, appointed as monitoring agencies, have reported no material deviations from the stated objectives for both the IPO and QIPs. The proceeds are being deployed according to the respective offer documents.

Unutilized Funds Management

The company has invested the unutilized funds from the recent QIPs in fixed deposits with reputable banks, ensuring liquidity and modest returns while awaiting deployment.

Future Outlook

With significant funds still available from the recent QIPs, Kaynes Technology India is well-positioned to pursue its growth strategies, including debt reduction, capacity expansion, and potential acquisitions. The company's prudent fund management and adherence to stated objectives reflect a strong commitment to transparent financial practices and strategic growth initiatives.

As Kaynes Technology India continues to deploy these funds, investors and industry observers will be keenly watching the impact on the company's operational capabilities and market position in the electrical equipment sector.