LED lighting solutions provider, IKIO Lighting, is set to open its Initial Public Offering (IPO) for public subscription on Tuesday, with the closing date scheduled for June 8.
The IPO, valued at ₹607 crore, includes a fresh issue of ₹350 crore and an offer for sale (OFS) of up to 90 lakh shares by the promoters.
The price range for the IKIO Lighting IPO has been set at ₹270 to ₹285 per share.
Promoters Hardeep Singh and Sumeet Kaur will participate in the OFS, intending to sell 60 lakh and 30 lakh equity shares, respectively.
Prior to the IPO launch, IKIO Lighting has already secured Rs 182 crore from anchor investors on June 5.
BSE data reveals that the company has allotted 63.84 lakh equity shares to a total of 16 funds at an issue price of Rs 285 per share.
Considering the IPO?
Ahead of its public issue, IKIO Lighting witnessed a significant rise in its gray market premium (GMP).
Today, the GMP for the IKIO Lighting IPO stood at ₹90 per share, up from the previous day’s ₹70 per share,
according to IPO Watch. This indicates that IKIO Lighting shares were being traded at a premium of ₹90 in the gray market.
Based on the GMP, IKIO Lighting is expected to list at ₹375 per share.
