@J.D yes i am applying here and its good for listing gains....
such strong gmp wont go away till listing.....and valuations here are higher but that depends on sector and company wise, company is showing good growth rate here and has some kind of monoply in its business which will help it further so such things will be given more value and so PE is high here...
Similar high valuations were there in netweb and ideaforge and i mentioned in them clearly to book profits and avoid further buying after listing but both listed well as per gmp....so i think no harm in applying here for listing gains and we may wait for some correction for new buying if it lists too high.....