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 <span class='webrupee'>₹</span>285 apiece.
IKIO Lighting share price listed on NSE at <span class='webrupee'>₹</span>392.50 per share levels.
On BSE, Ikio share price opened at <span class='webrupee'>₹</span>391 apiece levels.
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.
Company's business model is expected to continue strengthening the balance sheet of the company, said an expert.
Allottees can hold the counter for <span class='webrupee'>₹</span>500 target in next one quarter, according to Vaibhav Kaushik, Research Analyst at GCL Broking.
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.
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.