The Kaynes Technologies India Limited IPO subscription was open from 10th to 14th November 2022, within which retail investors made their applications to invest in shares of the company. This IPO’s price band ranged between Rs. 559 to Rs. 587 per share. The minimum lot size for subscription in this IPO was 25 shares.
Kaynes Technologies India Ltd IPO allotment is expected to be out on Thursday, November 17. The grey market premium (GMP) of this stock was at Rs. 120 as of November 16. With strong demand, on the final day of bidding, the issue was subscribed 34.16 times.
Investors can check Kaynes Technologies India IPO allotment as per the steps and details given below.
What is IPO allotment?
As part of any IPO allotment process, the offer’s registrar allocates the company’s shares to bidders who have made an application for an IPO subscription. In most large-cap IPOs, this process generally takes a week from the IPO release date. For small-cap IPOs, it may take longer, especially in case the IPO subscription does not reach the threshold requirement.
Allotment date of Kaynes Technologies India Ltd IPO
The allotment date for Kaynes Technologies India Ltd IPO is 17th November 2022. As per market observers, the issue’s grey market premium (GMP) was about Rs. 120. This means the shares of the company were available at a premium to the issue price band of Rs. 559-587.
The retail portion of Kaynes Technologies India IPO was subscribed 4 times whereas the total issue was subscribed 34.16 times on the final day of bidding process.
What is the process to check IPO application status?
IPO allotment status contains details, such as the total number of shares allotted to a bidder or investor. To check the status of the allotment, investors must wait until the IPO allotment date. The information is released to the public on the IPO registrar’s website post this date. IPO applicants or bidders can check their application status online through the BSE or NSE websites. An applicant can also check the status on the official registrar’s website. Investors or IPO subscription applicants can also know about the IPO allotment status through emails or SMS sent by BSE, NSE, CDSL, or NSDL.
Steps to check IPO allotment status on the Fisdom app
On the Fisdom app, an investor can check the allotment status of an IPO by going to his/her Order Book once the allotment process is complete.
Steps to check IPO allotment status on the BSE website
Investors who have bid for the IPO can check the allotment status through the Bombay Stock Exchange (BSE) website by following the steps mentioned below:
- Go to the BSE website – https://www.bseindia.com/investors/appli_check.aspx
- Within the option of issue type, select ‘Equity’
- In the ‘issue name’ section, choose the Kaynes Technologies India Limited IPO from the dropbox
- Mention the application number
- Provide PAN details
- Select ‘I am not a Robot’ and click on submit to check the status
Steps to check IPO allotment status by visiting the Registrar of the issue
The Registrar of the issue for Kaynes Technologies India Limited IPO is Link Intime India Private Limited. To check the status of allotment with the Registrar of the issue, here are the steps to be followed.
- Visit the Link Intime India IPO allotment status webpage through the following link, https://linkintime.co.in/MIPO/ipoallotment.html
- Select Kaynes Technologies India Limited IPO from the dropdown menu
- Investors can choose either PAN Number, Application Number, or DP Client ID to check the status of allotment.
- Click ‘Search’ to check the allotment status.
About Kaynes Technologies India Limited IPO
Kaynes Technologies India Ltd is a leading name in the field of end-to-end and IoT solutions-enabled integrated electronics manufacturing company. Incorporated in 2008, it caters to industries like aerospace and defence, automotive, medical, outer-space, nuclear, railways, Information Technology, etc. It offerings are focused on conceptual design, process engineering, integrated manufacturing, and life-cycle support.
The company has 8 manufacturing facilities including 2 service centers and 1 design center in various states like Karnataka, Haryana, Himachal Pradesh, Tamil Nadu, and Uttarakhand. The company has an international footprint too while sourcing materials for its over 871 vendors from abroad through countries like North America, Europe, and Singapore. The company also has a huge bulk of Indian vendors to meet their requirements.
With multiple IPOs being launched in India in the last few years, these tend to attract significant media attention and interest. Many IPOs see large-scale subscriptions from both retail investors and large institutional investors. The IPO allotment status is used by market experts as an indicator of the overall investor interest levels that the company has managed to attract in the market. Companies usually share IPO calendars to keep investors informed about the chronology of IPO events. Post the IPO allotment, the company’s shares are listed on the stock exchange for trading.
If you have applied to Kaynes Technology India IPO, you will come to know about the allotment on November 17.
Allotment status for Kaynes Technology India IPO will be updated on the IPO registrar’s website. Subscribers or bidders must provide their PAN number or IPO application number to check the allotment status. This information can also be found on the stock exchange websites. Allotment information is also sent to applicants via email or SMS notifications by BSE, NSE, NSDL, or CDSL.
If you get allotted with the shares of Kaynes Technolgy India IPO, you will receive a receive a notification via email from the broker/broking platform and also the IPO issuing company. If not allotted, refund initiation for this issue will be on November 18.
No, IPO allotment is not based on who applied first. It is allotted as per the response received from investors. If suppose Kaynes Technology India IPO does not attract investor interest and remains under-subscribed, there are higher chances of allotment for those who apply. In the case of oversubscription, the IPO allotment is calculated as per the number of shares available for retail investors divided by the minimum lot size.
Share allotment for Kaynes Technology India IPO is not guaranteed since it depends on the level of subscription and investor interest received.