Kaynes Technology’s shares fell nearly 6% after 20% of its equity, about 11.6 million shares worth roughly ₹7,233 crore, became available for trading as the lock-in period ended.
The sudden increase in free-float created selling pressure, pulling the stock down to an intraday low of ₹5,879.95. Despite the market reaction, the company recently posted strong quarterly numbers, with profit doubling to ₹121.4 crore and revenue rising 58% to ₹906 crore.
Its order book also expanded to over ₹8,099 crore, signalling healthy demand. Investors will now watch how the newly unlocked shares influence trading in the coming days.