IKIO Lighting IPO: What GMP signals as focus shifts towards share allotment date
2 min read 10 Jun 2023, 12:01 PM ISTIKIO Lighting IPO GMP: IKIO Lighting IPO allotment date expected on 13th June 2023, with grey market premium (GMP) of ₹114 signalling a strong debut on Dalal Street
PremiumIKIO Lighting IPO: After closure of three day bidding, investors and market observers are eagerly waiting for IKIO Lighting IPO allotment date, which is most likely on 13th June 2023. After strong response reflecting in IKIO Lighting IPO subscription after closure of bidding, grey market has gone highly bullish on the public issue worth ₹607 crore. According to market observers, shares of IKIO Lighting Ltd is available at a premium of ₹114 in grey market today.
IKIO Lighting IPO GMP today
Market observers said that IKIO Lighting IPO grey market premium (GMP) today is ₹114, which is Re 1 higher from its Friday GMP of ₹113. Market observers went on to add that IKIO Lighting IPO GMP has remained steady for last three days despite tepid stock market sentiments and global cues. They said that grey market went highly bullish on the initial public offer after trend reversal during early sessions in the week gone by. They went on to add that in last one week IKIO Lighting IPO GMP has risen from around ₹70 to ₹114 levels, which signals that IKIO Lighting IPO listing will be positive and strong.
What this GMP mean?
Market observers further added that IKIO Lighting IPO GMP today is ₹114, which means grey market is expecting that IKIO Lighting IPO listing price would be around ₹399 ( ₹285 + ₹114), which is around 40 per cent higher from IKIO Lighting IPO price band of ₹270 to ₹285 per equity share. This means, grey market is signaling that IKIO Lighting shares may have a strong debut on Dalal Street on IKIO Lighting IPO listing date, which is most likely on 16th June 2023.
However, stock market experts maintained that grey market premium should not be taken seriously as it is non regulated and completely speculative. They advised investors to scan financials of the company as it would give concrete picture of company's business model and other fundamentals. They said that GMP can be artificial as well because it includes even those who have high stake involved with the public issue.
IKIO Lighting IPO details
IKIO Lighting IPO allotment date is most likely on 13th June 2023 and likely date for IKIO Lighting IPO listing is 16th June 2023. The public issue aims to raise ₹607 crore from this issue offer.
IKIO Lighting IPO subscription
After three days of bidding from 6th to 88th June 2023, IKIO Lighting IPO got subscribed 67.75 times whereas its retail portion got subscribed 14.31 time. The public issue got subscribed 65.38 time in NII category while its QIB portion got subscribed 163.06 times.
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