IKIO Lighting IPO Subscribed 1.55 Times on first day of bidding

IKIO Lighting is selling its shares in the range of Rs 270-285  till Thursday, June 8 in a lot size of 52 equity shares. The company is looking to raise Rs 607 crore from its IPO.

IKIO Lighting, a leading manufacturer of premium lighting solutions, has successfully secured ₹182 crore from anchor investors on June 5

The initial public offering (IPO) of IKIO Lighting saw a strong demand from the investors during the first day of the bidding process. The issue, which kicked-off for subscription on Tuesday, was booked more than 1.55 times on first day of bidding.

The company is a manufacturer of light emitting diode (LED) lighting solutions. It is primarily an original design manufacturer (ODM) and design, develop, manufacture and supply products to customers who then further distribute these products under their own brands. IKIO Lighting’s products are categorised as (i) LED lighting; (ii) refrigeration lights; (iii) ABS (acrylonitrile butadiene styrene) piping; and (iv) other products.

This initial public offer (IPO) is open to qualified institutional buyers (QIBs), retail investors, and non-institutional investors (NIIs). Around 50 per cent of the offer is reserved for QIBs, 35 per cent for retail investors, and the remaining 15 per cent for NIIs. All investors should ensure that they understand the terms and conditions of the IPO before making any investments. They should also be aware that investments made in IPOs are subject to market risks and no assurance can be given that they will be successful. It is recommended that investors consult their financial advisor and exercise due diligence before making any investment decisions.


A day before its issue, IKIO Lighting mobilised Rs 181.95 crore by allocation of 63.84 lakh equity shares to 16 anchor investors at a price of Rs 285 per share, the upper price band, the company said in a circular with BSE.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 were the investors participating in the Anchor book.Motilal Oswal Investment and Advisors are book running lead managers to the issue, while Kfin Technologies is the registrar to the issue. The stock will be listed at both BSE and NSE. 

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