IKIO Lighting’s Initial Public Offering (IPO) has garnered significant interest, with a subscription rate of 1.55 times on its first day of share sale. According to data from the National Stock Exchange (NSE), the IPO, valued at Rs 606.5 crore, received bids for 2,36,67,020 shares, surpassing the 1,52,24,074 shares on offer.
The non-institutional investor category witnessed a subscription rate of 2.97 times, while the Retail Individual Investors (RIIs) category received 1.64 times subscription. Qualified Institutional Buyers (QIBs) demonstrated a 30% subscription rate.
The IPO comprises a fresh issue of up to Rs 350 crore, along with an Offer for Sale of up to 90 lakh equity shares. Shares are priced within the range of Rs 270-285 each.
Notably, IKIO Lighting successfully raised Rs 182 crore from anchor investors on Monday. The company plans to allocate the proceeds from the fresh issuance as follows: Rs 50 crore for debt payment, Rs 212.31 crore for establishing a new facility at Noida, Uttar Pradesh, under its wholly-owned subsidiary IKIO Solutions, and the remaining amount for general corporate purposes.
IKIO Lighting is a leading manufacturer of LED lighting solutions and operates as an original design manufacturer (ODM). Its operations involve designing, developing, manufacturing, and supplying LED products to customers, who subsequently distribute these products under their own brands. The company boasts four manufacturing facilities, including one situated in the SIDCUL Haridwar industrial park in Uttarakhand, and three others in Noida within the National Capital Region.
Motilal Oswal Investment Advisors serves as the manager to the offer, and the firm’s shares are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
About IKIO Lighting:
Founded in 2016, IKIO Lighting Limited has emerged as a leading Indian company focused on manufacturing LED lighting solutions. Over the past seven years, the company has established itself as a dedicated provider of sustainable and energy-efficient LED products, in line with India’s commitment to a greener future. IKIO offers a wide array of products that can be categorized into different segments. These encompass LED lighting solutions, Refrigeration lights, ABS (acrylonitrile butadiene styrene) piping, and several other innovative offerings.
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