Light emitting diode (LED) lighting solutions provider, IKIO Lighting has collected Rs 181.95 crore from anchor investors at the price of Rs 285 per share, upper end of the issue price.
The company said in its exchange filing that it has finalised allocation of 63.84 lakh equity shares to anchor investors, at a price of Rs 285 per share, the upper price band.
A total of 16 investors have invested in the company including HDFC Mutual Fund, ICICI Prudential, Goldman Sachs, Quant Mutual Fund, Malabar India Fund, Mirae Asset India, Rohdea Master Fund, Motilal Oswal Select Opportunities Fund, Cohesion MK Best Ideas, Citigroup, and Societe Generale.
The company plans to raise Rs 607 crore through the public offer opening on June 6 and will be closing on June 8. The issue consists a fresh issue of equity shares worth Rs 350 crore and an offer for sale of 90 lakh equity shares by promoters.
50% of the total IPO size is reserved for qualified institutional buyers (QIBs), 15% will be allotted to non-institutional investors, and the remaining 35% will be reserved for retail individual investors (RIIs).
IKIO is focused on sustainability and providing low-energy LED products to help India meet its sustainability goal.
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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