Last Update: June 02, 2023, 3:29 PM IST
LED lighting solutions provider IKIO Lighting Ltd on Thursday said it has set a price band of Rs 270-285 per share for its Rs 606 crore initial public offering (IPO). The IPO will open for subscription on June 6 and will be available to the public for bidding till June 8.
The company had filed its draft documents in October last year and received regulatory approval in December.
It is primarily an Original Design Manufacturer (ODM) and its product portfolio can be classified as LED Lighting, Refrigeration Lights, ABS Piping and other products.
Here are the top 10 things to know about the IKIO Lighting IPO:
IKIO Lighting IPO Bidding Dates:
The Noida-based company said in a statement that the issue will be open for public subscription during June 6-8 and the bid for anchor investors will open on June 5.
IKIO Lighting IPO issue price band:
The Noida-based company has fixed a price band of Rs 270-285 per equity share, and investors can bid for a minimum of 52 shares in one lot and in multiples thereafter.
IKIO Lighting IPO issue size:
The total issue size of the IKIO Lighting IPO is Rs 607 crore, which includes issuance of fresh equity shares up to Rs 350 crore and offer-for-sale (OFS) by the promoters for up to 90 lakh equity shares.
IKIO Lighting IPO Lot Size:
The lot size of the IKIO Lighting IPO is 52 shares, with which the minimum investment amount for retail investors is ₹14,820. Retail investors can bid up to 13 lots.
IKIO Lighting IPO Basis of Allotment:
The basis for allotment of IPO shares will be decided on June 13 and refunds will start on June 14. The IPO shares will be credited to the demat account of eligible investors on June 15.
IKIO Lighting IPO Listing Date:
IKIO Lighting shares will be listed on BSE and NSE on June 16.
Objectives of IKIO Lighting IPO Issue:
The Company proposes to use the proceeds of the New Issue for debt repayment, investment in its wholly owned subsidiary IKIO Solutions and for general corporate purposes.
IKIO Lighting IPO Register:
Kefin Technologies is the registrar to the issue.
IKIO Lighting IPO Lead Manager:
Motilal Oswal Investment Advisors is the sole book-running lead manager to the IKIO Lighting IPO.
IKIO Lighting IPO GMP today:
The IKIO Lighting IPO gray market premium (GMP) is ₹50 per share today. The IKIO Lighting IPO GMP on 2nd June remains unchanged as compared to GMP on 1st June. GMP on 31st May was ₹20.
