IKIO Lighting shares were listied on stock exchanges on June 16. The public issue had a phenomenal debut at Indian stock market against the issue price of ₹285 apiece.
Share price at NSE
IKIO Lighting share price listed on NSE at ₹392.50 per share levels.
Share price on BSE
On BSE, Ikio share price opened at ₹391 apiece levels.
Stellar listing
Listed at over 37% premium, IKIO Lighting share price further ascended to the tune of 7.50%. The stock closed at Rs 403.75 on BSE on June 16.
Strong business model
Company's business model is expected to continue strengthening the balance sheet of the company, said an expert.
Target
Allottees can hold the counter for ₹500 target in next one quarter, according to Vaibhav Kaushik, Research Analyst at GCL Broking.
Analysts optimistic
Considering its strong focus on R&D and backward integration, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart suggests investors to hold this share for longer.
Bidding
The public issue had opened for bidding on 6th June 2023 and closed on 8th June 2023.
Public issue subscribed
In three days of bidding, the public issue was subscribed whopping 67.75 times whereas its retail portion got subscribed 14.31 times.
IPO subscribed
The NII portion of the IPO was subscribed 65.38 times while its QIB portion got subscribed 163.06 times.