IKIO Lighting lights up D-Street with strong debut, lists at 37% premium

By India Today Business DeskAfter a successful initial public offering (IPO), IKIO Lighting made a dazzling debut on Dalal Street on Friday.

The company’s shares listed at Rs 391 apiece on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), marking a premium of over 37 percent over the issue price of Rs 285. The strong market listing was in line with what experts had expected.

Analysts were confident about a strong listing as the company’s shares had been commanding a strong premium on the grey market for the past few days. In fact, it was commanding a GMP of Rs 95-100 on Thursday.

But it turns out that the stock managed to perform even better on its listing day. As of 10:45 am, the stock was trading at Rs 419.70, marking a 47.61 percent premium over its issue price. This makes it one of the best stock market debuts this year so far.

IKIO Lighting IPO details

IKIO’s IPO received a strong response, following positive reviews from analysts who had recommended investors to subscribe to the issue for both listing and long-term gains. The analysts cited the company’s strong valuations, robust balance sheet and business model as key factors.

It may be noted that the company raised around Rs 607 crore from the IPO, which opened for subscription between June 6 and June 8. The company’s IPO was subscribed 66.29 times on the final day of bidding, making it the most subscribed public offering since November 2022.

The qualified institutional buyer (QIB) portion was the most subscribed at 163.58 times, followed by the non-institutional (NI) portion at 63.35 times and the retail portion was subscribed 13.86 times.

The IPO received bids of 1,00,92,76,892 shares against the offered 1,52,24,074 equity shares, at a price band of Rs 270-285, according to the data available on the stock exchanges.

All about IKIO Lighting

IKIO Lighting is primarily an Original Design Manufacturer (ODM) that designs, develops, manufactures and supplies products to customers, who then further distribute these products under their own brands. They also work with their customers to develop, manufacture and supply products that are designed by their customers.

Products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and other products. Equipment and systems produced by the company are used in various industries, including residential, industrial and commercial lighting.