News > Kaynes Technology IPO off to a muted start; subscribed only 3% during first two hours

Kaynes Technology IPO off to a muted start; subscribed only 3% during first two hours

Investors gave a muted response to the Rs 588 crore initial public offering (IPO) of Kaynes Technology during the first two hours of the bidding process on day one. The quota for employees was booked at 85%, and retail bidders were subscribed 5%, whereas the allocation for HNI investors fetched only 1% bids.Kaynes Technology has allotted 43.76 lakh equity shares to anchor investors at Rs 587 apiece.