IKIO Lighting’s Rs 607 crore IPO received a strong response from the investors during the bidding process, and is likely to finalise the basis of the allotment of shares today (June 13, 2023). The issue was open for subscription between June 6-8 in the price range of Rs 270-285 per share
IKIO Lighting IPO was subscribed 66.30 times. The portion for qualified institutional bidders was booked 163.68 times, while the non-institutional investors' category was subscribed 63.35%. The quota reserved for retail investors was subscribed 13.86 times
The grey market premium (GMP) of IKIO Lighting saw some correction on Tuesday but continues to remain firm amid the volatility in the broader markets. IKIO Lighting shares were commanding a grey market premium of Rs 98-110, down from Rs 120-125 on Friday
Incorporated in 2016, the Noida-based IKIO Lighting manufactures light-emitting diode (LED) lighting solutions. The company is primarily an original design manufacturer (ODM). The company's LED lighting offerings focus on the premium segment
IKIO Lighting IPO gathered mostly positive views from analysts who suggested subscribing to the issue citing its attractive valuations, high-margin products, strong performance and growth potential. However, select analysts are cautious over its dependence on a single client, competitive industry, import concerns and limited product line as the key risks for the business
Investors, who had bid for the IKIO Lighting issue, can check the share allotment status on the Bombay Stock Exchange (BSE) website or through the registrar’s website
To check IKIO Light share allotment status through BSE, visit the BSE website (www.bseindia.com/investors/appli_check.aspx). Under the issue type, click Equity, and under the issue name, select IKIO Lighting Limited. Write the application number, followed by PAN card ID Add the PAN card ID. Click on 'I am not a Robot' and hit submit to view the share allotment status
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus). Just click on ‘Select IPO and then select ‘IKIO Lighting’, and enter your PAN, application number, DP/Client ID or Account number/IFSC. Enter the captcha, and click on submit to view IKIO Lighting share allotment status
Bidders who could not get allotment in the IPO may see the initialisation of refunds on June 14. Others, who would be allotted shares may see the credit of shares, in their demat accounts by June 15. IKIO Lighting shares are likely to get listed on stock exchanges BSE, NSE on Friday, June 16
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