There is no direct relation between the organisations IEEE & Grey Technolabs. But Grey Technolabs is providing special discounts for IEEE members for all its training programs. The discounts range from 10% to 90% on various programs. Some of the one day workshops are even free for IEEE members.
Apart from this, some members of Grey’s management and staff are active members and volunteers of IEEE, especially at IEEE Kerala Section, IEEE Kochi Subsection and IEEE Kerala Section Young Professionals. That may be why you have heard Grey’s name in IEEE circles