IKIO Lighting, an original design manufacturer of LED lighting products, has opened its initial public offering (IPO) for subscription on June 6. The subscription period will last for three days and conclude on Thursday. The IPO consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer for sale (OFS) of up to 90 lakh shares.
Here are the key details of the IKIO Lighting IPO:
Issue Price Band: The company has set a price band of Rs 270-285 per equity share for the IPO. Investors can bid for a minimum of 52 shares in one lot and in multiples thereafter.
Issue Size: The total issue size of the IKIO Lighting IPO is worth ₹607 crore. This includes a fresh issuance of equity shares worth up to ₹350 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by promoters.
Listing Date: IKIO Lighting is expected to make its stock market debut on June 16 and will join listed peers such as Dixon Technologies, Amber Enterprises, Syrma SGS, and Elin Electronics.
Objective of the Issue: The company intends to utilize the proceeds from the fresh issuance for debt payment, investment in its wholly-owned subsidiary IKIO Solutions, and for general corporate purposes.
Registrar: Kfin Technologies is the registrar of the IKIO Lighting IPO.
Lot Size: The lot size of the IPO is 52 shares, requiring a minimum investment amount of ₹14,820 for retail investors. Retail investors can bid for up to 13 lots.
Basis of Allotment: The basis of allotment for the IPO shares will be determined on June 13, and the initiation of refunds will take place on June 14. Eligible investors will have the IPO shares credited to their demat accounts on June 15.
These are the key details regarding the IKIO Lighting IPO, providing potential investors with information to consider before making investment decisions.