Home / Markets / Ipo /  IKIO Lighting files IPO draft with Sebi to raise funds. Details here

IKIO Lighting has filed a draft prospectus with market regulator Sebi to launch its initial public offering (IPO). The issue comprises a fresh issue worth about 350 crore and an offer for sale (OFS) up to 75 lakh equity shares. Promoters like Hardeep Singh and Surmeet Kaur will be offloading a certain portion of their stakes in the IPO via OFS.

According to the PTI report, proceeds from the fresh issuance worth 50 crores will be used for debt payment, and 236.68 crore will be used in the company's wholly-owned subsidiary, IKIO Solutions, to set up a new facility at Noida, Uttar Pradesh, and for general corporate purposes.

Of the total IPO issue, 50% of the offered size is reserved for qualified institutional buyers (QIBs), while 15% of the size is set to be allocated to non-institutional buyers (NIIs), and the remaining 35% of the total is reserved for retail individual investors (RII).

Motilal Oswal Investment Advisors is acting as the sole book-running lead managers of the IPO.

Post IPO, IKIO will be listed on both stock exchanges BSE and NSE.

IKIO is a manufacturer of light-emitting diode (LED) lighting solutions. Primarily, the Noida-based company is an original design manufacturer (ODM) and designs, develops, manufactures, and supplies products to customers. The company has four manufacturing facilities, while one of them is located in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida in the National Capital Region.

The company recorded strong growth in FY22. Its revenue from operations climbed by 55.47% in FY22 to 331.84 crore from 213.45 crore in FY21. While PAT jumped by 75.37% to 50.52 crore in FY22 against 28.81 crore in the previous fiscal.

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