Kaynes Technology IPO: The initial public offering (IPO) of Kaynes Technology India Ltd opened for subscription on 10th November 2022 and after two days of subscription, the public issue has been subscribed 1.10 times. Its retail portion has been subscribed 0.47 times whereas the public offer has been oversubscribed 3.22 times in first two days of bidding. Meanwhile, shares of Kaynes Technology India Ltd are available at a premium of ₹85 per share in grey market today. Kaynes Technology IPO GMP today Market observers said that Kaynes Technology grey market premium (GMP) today is ₹85, which is ₹10 higher from its Friday GMP of ₹75 per equity share. This means, grey market is expecting that Kaynes Technology IPO listing would be around ₹672 ( ₹587 + ₹85), which is around 14 per cent higher from its price band of ₹559 to ₹587 per equity share. They said that grey market has gone bullish on the public issue after change in sentiments on Dalal Street. Kaynes Technology IPO subscription status After two days of bidding, the public issue worth ₹857.82 crore has been subscribed 1.10 times whereas its retail portion has been subscribed 0.47 times. In employees category, the public offer has been subscribed 3.22 times while in QIB category, the IPO has been subscribed 2.45 times. Kaynes Technology IPO: Apply or not? On whether one should buy Kaynes Technology IPO or not, Anand Rathi says, "On the valuation front at the upper band of the IPO price Kaynes is demanding PE of 81.9x its TTM earnings attributable to post issue equity demanding a market cap of Rs. 34,129 million which we believe is fairly priced considering its decent historical growth, strong revenue visibility and growing demand of automation across underlying industries. We recommend ‘SUBSCRIBE for long term’ rating to this IPO."