Last updated: June 16, 2023, 10:18 AM IST
IKIO Lighting Offer Price: Shares of LED lighting solutions provider IKIO Lighting made a great debut on the NSE and BSE stock exchanges on Friday, June 16. On BSE, IKIO Lighting is listed at Rs 391 apiece at the issue price of Rs 270-285. The share started its trading journey at Rs 392.5 apiece on NSE – a premium of 37.7 per cent over the issue price.
IKIO Lighting raised approximately Rs 607 crore in the first share sale, which opened for bids between June 6 and June 8. The company had set a price range of Rs 270-285 each for the issue with a lot size of 52 shares. The issue garnered a strong response from investors during the three-day bidding process.
The IPO received a total of 66.30 subscriptions, with the Qualified Institutional Bidder (QIB) section receiving 163.68 subscriptions; the category for non-institutional investors (NIIs) was booked 63.35 times and the quota reserved for retail investors was booked 13.86 times.
Founded in 2016, Noida-based IKIO Lighting produces light-emitting diode (LED) lighting solutions. The company is primarily an Original Design Manufacturer (ODM). The company’s LED lighting offerings are aimed at the premium segment.
Should you buy, sell or hold?
Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd., said: “IKIO Lighting Ltd. made its strong debut in the market at a listing price of Rs. 392. The company’s issue price in the upper band was Rs 285, so it is about 37 percent of earnings for investors, which is even more than expected. given the strong focus on R&D and backward integration, the established relationship with customers and the consistent financial performance, we continue to view this positively. cents below the listing price.”