Kaynes Technology IPO allotment today: checkout current GMP value

• Kaynes Technology will announce its share allotment status today on November 17.
• The IPO received strong demand from investors as it was subscribed 34.16 times.
• The qualified institutional investors portion of the IPO was subscribed 98.47 times. The retail portion however was subscribed by four times over.
• The IPO will be listed on November 22 on exchanges.

Mysore-based Kaynes Technology will announce the allotment status of its initial public offering (IPO) today, November 17.

The IPO was open for subscription from November 10-14. The IPO received strong demand from investors as it was subscribed 34.16 times. The qualified institutional investors portion of the IPO was subscribed 98.47 times. The retail portion, however, was subscribed four times over.

The IPO consists of a fresh issue of shares worth ₹530 crore and an offer for sale by promoters and shareholders worth ₹327 crore.

Kaynes Technology is an internet-of-things (IoT) solutions-enabled integrated electronics manufacturing company.

The grey market premium (GMP) of the company’s shares stood at ₹120 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.

The company intends to use the proceeds of the fresh issue to repay some of its borrowings, funding capital expenditure requirements to expand manufacturing capacity, and towards working capital.

Here is how to you can check Kaynes Technology IPO allotment status on stock exchange website:

• Go to the BSE website or NSE website here.
• On BSE, Select 'Equity' and then from the dropdown, select ‘Kaynes Technology’.
• Now, enter your application number and PAN.
• Click on 'Search'.
• Please note the details will only be available once the shares are allotted.

You can also visit the registrar website (Link Intime India) to check your application status.

• Visit the registrar's website here.
• Click on 'Select company' and click on ‘Kaynes Technology’.
• Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.
• Enter the captcha code and click ’submit’.

Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you.

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