Last updated: Jun 02, 2023, 3:29 PM IST
LED lighting solutions provider IKIO Lighting Ltd said on Thursday it has set a price range of Rs 270-285 per share for its Rs 606-crore initial public offering (IPO). The IPO is open for subscription on June 6 and the public can bid until June 8.
The company had submitted its design documents in October last year and received regulatory approval in December.
It is primarily an Original Design Manufacturer (ODM) and its product portfolio can be categorized as LED lighting, refrigeration lighting, ABS piping and other products.
Here are the top 10 things you should know about IKIO Lighting IPO:
IKIO Lighting IPO Bid Dates:
The issue will be open for public subscription from June 6 to 8, and bidding for anchor investors will begin on June 5, the Noida-based company said in a statement.
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:
IKIO Lighting shares will be listed on BSE and NSE on 16 June.
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:
IKIO Lighting IPO gray market premium (GMP) is ₹50 per share today. The IKIO Lighting IPO GMP on June 2 has remained unchanged compared to the GMP on June 1. The GMP on 31 May was ₹20.