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IKIO Lighting IPO Subscribed 6.83 Times On Day 2

The IPO was subscribed 6.83 times as of 5:00 p.m. on June 7.

<div class="paragraphs"><p>(Source: IKIO Lighting company website)</p></div>
(Source: IKIO Lighting company website)

LED lighting solution provider IKIO Lighting Ltd. launched its initial public offering on June 6. The three-day issue will close on June 8.

The IPO was subscribed 1.55 times as of 5:00 p.m. on the first day, with institutional investors subscribing 0.30 times, non-institutional investors subscribing 2.97 times, and retail investors with a 1.64 times.

The Noida-headquartered company is planning to raise Rs 606.5 crore from its maiden share sale. The offer includes a fresh issue of Rs 350 crore, and an offer for the sale of around 90 lakh shares.

The fresh issue size is 15.90% and promoters are together divesting 11.65% of their holdings. Post-offer, the promoter's shareholding will be 72.5%.

IKIO Lighting is eyeing a market value of Rs 2,202.5 crore at the upper end of the price band of Rs 270–285 apiece.

IKIO Lighting intends to use the net proceeds from the fresh issue for repayment and prepayment of borrowings to the tune of Rs 50 crore. It will invest Rs 212.3 crore in its wholly owned subsidiary IKIO Solutions Pvt.

IKIO Lighting IPO Details

  • Issue opens: June 6.

  • Issue closes: June 8.

  • Issue size: Rs 606.5 crore.

  • Face value: Rs 10 apiece.

  • Lot size: 52 equity shares and multiples.

  • Listing: BSE and NSE.

  • Lead managers: Motilal Oswal Investment Advisors Ltd.

Subscription Status: Day 2

The IPO was subscribed 6.83 times as of 5:00 p.m. on June 7.

  • Institutional investors: 1.37 times

  • Non-institutional investors: 15.99 times

  • Retail investors: 5.92 times

All You Need To Know About IKIO Lighting's IPO:

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