IKIO Lighting IPO: IKIO Lighting shares listed at 37% premium over IPO price on BSE amid positive domestic market. The share debuted at Rs 391 on the BSE, as compared to the issue price of Rs 285. The scrip touched a high of XYZ% before touching a high of Rs 411.95, up 44.5%. A positive listing was expected as ahead of the market debut, IKIO Lighting shares were trading at a premium of Rs 90 in the grey market.
IKIO Lighting IPO subscription data
IKIO Lighting IPO opened for subscription on 6 June and the issue was fully subscribed66.29 times on the last day of subscription on Thursday, helped by overwhelming participation from institutional buyers. The Rs 606.5-crore initial share sale received bids for 1,00,92,76,892 shares against 1,52,24,074 shares on offer. The Qualified Institutional Buyers (QIBs) category was subscribed 163.58 times, the portion for non-institutional investors received 63.35 times subscription and Retail Individual Investors (RIIs) quota got subscribed by 13.86 times.
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“Considering the overwhelming response from all types of investors and oversubscribed by 66.30 times, we are expecting a healthy 25-30% listing performance backed by a market mood. Better than expected response to its offer across investor categories was mainly due to its business model of ODM followed by higher operating margins compared to peers and reasonable discounted valuations at the time of IPO when compared to listed peers,” said Prashanth Tapse, Senior VP (Research), Mehta Equities. “With market sentiments recovering if we get any listing gains over and above 25%, we recommend allotted investors to book profits on the listing day while risk seekers can hold for medium to long term,” he added, while sharing his pre-listing view on the issue.
About IKIO Lighting
IKIO Lighting is an Indian manufacturer of light-emitting diode (LED) lighting solutions. The company focused on providing sustainability and low-energy LED products, with LED lighting, Refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and other products in its portfolio.