Kaynes Technology IPO: GMP, Allotment Date, Subscription Status

The Kaynes Technology initial public offering (IPO) was met with a positive response from investors. The IPO was open for subscription from November 10, 2022, to November 14, 2022. The Kaynes Technology IPO comprised a fresh issue of equity shares worth ₹530 Crore and an offer for sale (OFS) of up to 55,84,664 equity shares.

Here are the important dates to note about the Kaynes Technology IPO.

Also Read: Kaynes Technologies IPO Subscribed 34.16 Times On Final Day

As per data shared by the National Stock Exchange (NSE), the Kaynes Technology IPO received bids for 35.76 Crore shares as against 1.04 Crore shares on offer. The portion reserved for Qualified Institutional Buyers (QIBs) in the Kaynes Technology IPO was subscribed 98.47 times, while the Non-Institutional Investors (NIIs) category was subscribed 21.21 times. The Retail Individual Investors (RIIs) category of the IPO was subscribed 4.09 times.

The Kaynes Technology IPO price band was set at ₹559-₹587 per share. During the bidding process, the IPO received a positive response and the company’s shares are expected to list on the exchanges at a premium. As per market observers, the shares of Kaynes Technology are available at a grey market premium (GMP) of ₹138 today.

Suggested Read: Kaynes Technologies IPO: All You Need To Know

Kaynes Technology is expected to list its shares on the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange) on November 22, 2022. The electronics system design and manufacturing (ESDM) services company is likely to complete the finalisation of the share allotment on Thursday, November 17, 2022.

Kaynes Technology is a leading end-to-end and internet of things (IoT) solutions-enabled integrated electronics manufacturer and is one of the first companies in India to offer design-led electronics manufacturing to original equipment manufacturers (OEMs).

For more information on upcoming IPOs, take a look at the BQ Prime IPO Watch.