Kaynes Technology IPO: Signal from GMP after share placement completes

Cairns Technology IPO GMP: Following the rights issue, bidders are eagerly awaiting the launch date for Kaynes Technology’s IPO, most likely next Tuesday, November 22, 2022.During a three-day tender from November 10-14, 2022, the value of the public offering ¥The subscription volume of 5.3 billion is as high as 34.16 times, while the subscription volume of its retail part is close to 12 times the original quotation. Meanwhile, the gray market is also sending positive signals about the tech IPO.

Market watchers said Cairns Technology shares had soared in the gray market after the share placement was completed despite poor signals from the secondary market.

Cairns Tech IPO GMP Today

Market watchers say Cairns tech IPO GMP today is ¥235、 ¥25 above GMP Friday or ¥210 shares per share. They said there was an uptick in gray market sentiment associated with the Cairns Technologies IPO, a significant development related to public offerings.They say Kaynes Technology IPO GMP is around ¥125 At time of public offering. As a result, its gray market premium has soared nearly 100% over the past week.

What does this GMP mean?

Market watchers say Cairns tech IPO GMP today is ¥235, which means that the gray market expects the Kaynes Technology IPO to be listed at ¥822 ( ¥587 + ¥235), about 40% higher than its issue price ¥559 to ¥587 shares per share. When sentiment is less encouraging, the gray market implies a listing premium of 40%, they said. They expect gray market sentiment to rise further once Dalal Street sees a trend reversal.

Still, stock market experts believe that GMP is not an ideal indicator of listing premiums because it is an unregulated, speculative number that has nothing to do with a company’s balance sheet. They said people should rely on the company’s financials because it provides a concrete picture of the company’s business and its growth prospects. They advise dispensers to stick to their beliefs, motivating them to invest in this public issue.

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