KTIL IPO will launch 10 Nov investors bet this issue on 14 Nov check details – Business News India

KTIL IPO: An IoT-based integrated electronics manufacturing company Kenj Technology India Limited (KTIL) launched its initial public offering (IPO) on 10 November. According to the documents filed by the market regulator SEBI, this public issue will close on November 14, while anchor investors will be able to bid for shares on November 14.

55.85 lakh equity shares will be sold
Kenj Technology has reduced the number of new shares to be issued under the issue from 650 crore rupees to 530 crore rupees. Besides this, one promoter and one existing shareholder will offer 55.85 lakh equity shares for sale. This will also include 20.84 lakh shares held by promoter Ramesh Kunikkannan.

Also read – Tata Group’s shares fell 64%, from 216 to ₹102, the price dropped to ₹100,000 to ₹47,000

Where will the fund be used?
The proceeds from the sale of new shares will be used to pay off debt, raise capital for manufacturing plants located in Mysore and Manesar. Kenj Technology Internet of Things (IoT) is a leading integrated electronics manufacturing company. There are a total of eight production plants in the country.

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