Kaynes Technology Ltd has initiated a Qualified Institutional Placement (QIP) to raise Rs 1,400 crore, targeting expansion. The QIP has a floor price of Rs 2,449.96 per share, with a potential discount of up to 5%. The fund-raising committee will determine the issue price on December 21. Concurrently, Kaynes announced the acquisition of Digicom Electronics Inc for $2.5 million, aiming to enhance its presence in the US market. The acquisition involves a 100% stake purchase, contributing to Kaynes’ strategic expansion. Digicom Electronics reported a turnover of $7.78 million in 2022. Kaynes Technology stocks surged 251% in 2023.