The initial public offering (IPO) of IKIO Lighting has garnered significant interest from investors, with a subscription rate of 75 times during the three-day opening period.
Notably, the qualified institutional buyers category witnessed a subscription rate of 163 times on the final day of the IPO.
Investors eagerly await the share allotment, scheduled for June 13, 2023.
Gray Market Signals Positive Listing for IKIO Lighting IPO
The gray market for IKIO Lighting IPO indicates an optimistic outlook.
The gray market premium (GMP) for the IPO stands at Rs 114, which is Rs 1 higher than the previous day.
On Friday, the gray market premium for IKIO Lighting IPO was Rs 113 per share.
Over the past few days, the GMP has ranged between Rs 70 and Rs 114, signaling a favorable listing ahead.
IKIO Lighting IPO Expected to List at Rs 399
With the IPO’s price band set at Rs 270 to Rs 285, if the current GMP holds steady, IKIO Lighting may be listed at Rs 399.
This means investors have the potential to gain up to 40 percent on their IPO investment.
It is important to note that the listing of IKIO Lighting is scheduled for June 16, 2023.
