The Busy Brains
4 Jun 2023
Get all the essential details about the upcoming IPO of LED lighting solutions provider, IKIO Lighting Ltd. Discover the bidding dates, issue price band, lot size, and objective of the IPO. Learn about the company's financial performance and its manufacturing facilities.
LED lighting solutions provider, IKIO Lighting Ltd, is set to launch its initial public offering (IPO) on June 6. The company specializes in manufacturing sustainable and energy-efficient LED lighting solutions.
Here are the top 10 things you need to know about the IKIO Lighting IPO:
1. Bidding Dates: June 6 to June 8
2. Issue Price Band: The IPO shares will be priced between ₹270 and ₹285 per share.
3. Issue Size: The total value of the IKIO Lighting IPO is ₹607 crore. This includes a fresh issuance of equity shares worth up to ₹350 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by the promoters.
4. Lot Size: The lot size for the IPO is 52 shares, requiring a minimum investment of ₹14,820 for retail investors. Retail investors can bid up to 13 lots.
5. Basis of Allotment: The basis of allotment for IPO shares will be determined on June 13. Refunds will be initiated on June 14, and eligible investors will receive the IPO shares in their demat accounts on June 15.
6. IPO Listing Date: IKIO Lighting shares will be listed on June 16 at both BSE and NSE.
7. Objective of the Issue: The proceeds from the IPO will be utilized for debt payment, investment in the company's wholly-owned subsidiary IKIO Solutions, and general corporate purposes.
8. IPO Registrar: Kfin Technologies is the registrar for the IKIO Lighting IPO.
9. Lead Managers: Motilal Oswal Investment Advisors is the sole book-running lead manager for the IPO.
10. IKIO Lighting IPO GMP: The grey market premium (GMP) for the IKIO Lighting IPO is currently ₹50 per share. This price has remained unchanged since June 1. On May 31, the GMP was ₹20.
In terms of financials, IKIO Lighting reported a net profit of ₹50.52 crore for the fiscal year ended March 2022, a significant increase from ₹28.81 crore in the previous year. The company's revenue for the period ending December 2022 stood at ₹332.79 crore, with a net profit of ₹51.35 crore.
IKIO Lighting operates four manufacturing facilities, including one in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida, in the National Capital Region.
Stay informed about the latest developments in the IKIO Lighting IPO, including the expected listing price based on the current grey market premium and the upper price band.