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Business News/ Markets / Stock Markets/  IKIO Lighting shares make dream debut at Indian stock market. Buy, sell or hold?
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IKIO Lighting shares make dream debut at Indian stock market. Buy, sell or hold?

IKIO Lighting shares had a strong debut on the BSE and NSE, delivering more than 37% listing gain to its allottees

Stock market experts predict that IKIO Lighting shares could hit ₹500 in the next quarter, and suggest investors hold on to the stock for more gains. (Photo: Courtesy IIKIO Lighting Ltd website)Premium
Stock market experts predict that IKIO Lighting shares could hit 500 in the next quarter, and suggest investors hold on to the stock for more gains. (Photo: Courtesy IIKIO Lighting Ltd website)

IKIO Lighting IPO listing took place today and the public issue had a dream debut at Indian stock market on Friday. IKIO Lighting share price listed on NSE at 392.50 per share levels whereas in BSE it opened at 391 apiece levels, delivering more than 37 per cent listing gain to its lucky allottees. However, the stock witnessed further buying interest by stock market bulls as the stock further surged after strong listing and went on to hit intraday high of 423.45 apiece on NSE.

According to stock market experts, IKIO Lighting shares have listed at a strong over 37 per cent premium and IKIO Lighting share price has further ascended to the tune of 7.50 per cent after stellar listing, which signals buying interest of the stock market bulls despite dream debut on Dalal Street. They said that company's business model is expected to continue strengthen the balance sheet of the company and allottees can hold the counter for 500 target in next one quarter.

Speaking on IKIO Lighting share listing, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "IKIO Lighting Ltd. made its strong debut in the market at a listing price of Rs. 392. The company's issue price at the upper band was 285, so it is around 37% of the gain for investors which is even more than expected. considering its strong focus on R&D and backward integration, its well-established relationship with clients, and its consistent financial performance we still have a positive view on this thus we will suggest investors hold this share for a longer period."

IKIO Lighting share price target

Advising IKIO Lighting shareholders to hold the scrip for more gains, Vaibhav Kaushik, Research Analyst at GCL Broking said, "IKIO Lighting Ltd has a sustained business model which is expected to continue provide strength to its balance sheet in medium to long term. They produce niche product in Led light segment, which is expected to boost order book of the company. So, lucky allottees can hold the stock for around 500 per share target in next one quarter keeping trailing stop loss at 370 apiece levels."

IKIO Lighting IPO listed today on BSE and NSE, delivering more than 37 per cent listing gain to its allottees against the issue price of 285 apiece. The public issue had opened for bidding on 6th June 2023 and closed on 8th June 2023. In three days of bidding, the public issue was subscribed whopping 67.75 times whereas its retail portion got subscribed 14.31 times. The NII portion of the IPO was subscribed 65.38 times while its QIB portion got subscribed 163.06 times.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 16 Jun 2023, 10:59 AM IST
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