IKIO Lighting IPO: Issue details, GMP, other key things to know

The initial public offering (IPO) of LED lighting solutions provider IKIO Lighting Ltd will open for subscription on June 6. The company is a manufacturer of light-emitting diode (LED) lighting solutions focused on providing sustainability and low-energy LED products.

It is primarily an Original Design Manufacturer (ODM) and its product portfolio can be categorized as LED lighting, Refrigeration lights, ABS piping and other products.

IKIO Lighting IPO is worth over ₹607 crore, which values the company at around ₹2,200 crore.

Read here: IKIO Lighting IPO to open on June 6; price band set at ₹270-285 per share

Here are top 10 things to know about IKIO Lighting IPO:

1. Bidding Dates: June 6 to June 8 

2. Issue price band: ₹270 to ₹285 per share

3. Issue size: The total issue size of IKIO Lighting IPO is worth ₹607 crore, comprising of 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 promoters. 

4. Lot Size: The lot size of IKIO Lighting IPO is 52 shares, making the minimum investment amount for retail investors at ₹14,820. Retail investors can bid upto 13 lots.

5. Basis of allotment: The basis of allotment of IPO shares will be fixed on June 13 and the initiation of refunds will take place on June 14. The IPO shares will be credited to the demat account of eligible investors on June 15.

6. IPO Listing Date: IKIO Lighting shares will be listed on June 16 at BSE and NSE.

7. Objective of the issue: The company proposes to utilise the proceeds from the fresh issuance for debt payment, investment in its wholly-owned subsidiary IKIO Solutions and for general corporate purposes.

8. IKIO Lighting IPO Registrar: Kfin Technologies is the registrar to the issue.

9. Lead managers: Motilal Oswal Investment Advisors is the sole book-running lead manager to the IKIO Lighting IPO.

10. IKIO Lighting IPO GMP today: IKIO Lighting IPO grey market premium (GMP) today is ₹50 per share. The IKIO Lighting IPO GMP on June 2 has remained unchanged as compared to the GMP on June 1. The GMP on May 31 was ₹20.

The expected listing price for IKIO Lighting shares, according to June 2 GMP of ₹50 and considering the upper price band of ₹285, will be ₹335 per share.

Also Read: Kore Digital IPO: Issues details, subscription status, GMP, other key things to know

Other details

IKIO Lighting promoters Hardeep Singh and Surmeet Kaur will sell up to 90 lakh shares in the OFS. In the IPO, the company has reserved 50% of shares of Qualified Institutional Buyers (QIB) category, 15% for Non-Institutional Investors (NII) category and 35% for Retail Investors category.

IKIO Lighting has four manufacturing facilities with one located in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida in the National Capital Region.

Financials

IKIO Lighting reported a net profit of ₹50.52 crore for the financial year ended March 2022, registering a steep rise from net profit of ₹28.81 crore in the previous fiscal. 

The company’s revenue for the period ending December 2022 was at ₹332.79 crore, while its net profit for the period was ₹51.35 crore.