IKIO Lighting IPO Subscription Day 2 (June 7): Ikio Lighting IPO Lighting, a provider of LED lighting solutions, had subscribed 2.43 times as of 11am on Day 2. The subscription to the offering will expire on Thursday (June 8).
IKIO Lighting IPO Subscription Status:
The Initial Public Offer (IPO) of IKIO Lighting, a provider of LED lighting solutions, received a subscription of 1.55 times on Tuesday on the first day of the share sale. The Rs 606.5 crore IPO received bids for 2,36,67,020 shares against 1,52,24,074 shares tendered, according to NSE data. The category for non-institutional investors received 2.97 enrollments, the Retail Individual Investors (RIIs) portion received 1.64 enrollments, and Qualified Institutional Buyers (QIBs) received 30 percent.
IKIO Lighting IPO issuance price range:
The Noida-based company has set a price range of Rs 270-285 per share share and investors can bid for a minimum of 52 shares in one lot and multiples thereafter.
IKIO Lighting IPO Expenditure Extent:
The total issue size of IKIO Lighting IPO is worth ₹607 crore consisting of a new issue of shares worth up to ₹350 crore and an offer for sale (OFS) of up to 90 lakh shares by promoters.
IKIO Lighting IPO Lot Size:
The batch size of IKIO Lighting IPO is 52 shares, making the minimum investment amount for retail investors ₹14,820. Private investors can bid on up to 13 lots.
IKIO Lighting IPO Allocation Basis:
The basis for the allocation of IPO shares will be set on June 13 and the start of redemptions will take place on June 14. The IPO shares will be credited to the demat account of eligible investors on June 15.
IKIO Lighting IPO Listing Date:
The Noida-based company is likely to debut on June 16, joining publicly traded peers Dixon Technologies, Amber Enterprises, Syrma SGS and Elin Electronics.
IKIO Lighting IPO Objective of the issue:
The company proposes to use the proceeds from the new issue for debt service, investments in its wholly owned subsidiary IKIO Solutions and for general corporate purposes.
IKIO Lighting IPO Registrar:
Kfin Technologies is the registrar of the issue.
IPO Lead Managers IKIO Lighting:
Motilal Oswal Investment Advisors is the sole book-running lead manager of the IKIO Lighting IPO.
IKIO Lighting IPO GMP today:
Shares of Ikio Lighting enjoyed a premium of Rs 90 apiece in gray markets, according to IPO Watch, which translates to a likely listing price of Rs 375 in the upper price range.
IKIO Lighting IPO ratings:
“IKIO Lighting maintains long-term relationships with most of its customers given the company’s healthy business outlook, high yield ratios and margins, debt repayment and valuation comfort of 47.8 times P/E (Price Earnings) year over year. FY23 financials,” analysts at Reliance Securities said, adding a “subscribe” rating to the issue.
Analysts at Swastika Investmart have advised investors to “subscribe” to the issue, both for listing gains and for the long term. ‘ said the note.
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