7 Jun 2023 , 11:17 AM
The initial public offer of IKIO Lighting Limited opens on June 6 and was subscribed 1.51 times by the end of the day amidst heavy demand from retail and non-institutional investors. Click here to subscribe the IPO.
On day 2 (June 7), the issue was subscribed 2.87 times by 11.00 AM. The category for non-institutional investors was subscribed 5.89 times, the portion for Retail Individual Investors (RIIs) received 2.99 times subscription and Qualified Institutional Buyers (QIBs) 0.32 times.
The Noida-based IKIO Lighting manufactures light-emitting diode (LED) lighting solutions was incorporated in the year 2016 and is primarily an original design manufacturer (ODM). The company's LED lighting offerings focus on the premium segment.
The company will use net proceeds from the IPO towards repayment of certain borrowings, investments in its subsidiary IKIO Solutions for setting up a new facility in Noida, and other general corporate purposes.
Motilal Oswal Investment and Advisors are book running lead managers to the issue, while Kfin Technologies is the registrar to the issue. The stock will be listed at both BSE and NSE.
IKIO Lighting IPO important details:
| Open date | 6 June 2023 |
| Close date | 8 June 2023 |
| Lot size | 52 shares |
| IPO size (Rs crore) | Rs 607 crore |
| IPO price range (Rs) | Rs 270 to Rs 285 per share |
| Minimum investment | Rs 14,820 |
| Basis of allotment date | 13 June 2023 |
| Refunds date | 14 June 2023 |
| Credit to demat account date | 15 June 2023 |
| Listing date | 16 June 2023 |
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