IKIO Lighting IPO Opens on June 6: GMP, Price, Size; 10 Things to Know Before Investing

LED lighting solution provider IKIO Lighting Ltd on Thursday said it has fixed 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 for the public to bid till June 8.

The company had filed its draft papers in October last year and received regulatory approval in December.

It is primarily an Original Design Manufacturer (ODM) and its product portfolio can be categorized as LED lighting, Refrigeration lights, ABS piping and other products.

Here are the top 10 things to know about IKIO Lighting IPO:

IKIO Lighting IPO Bidding Dates:

The issue will be open for public subscription during June 6-8 and the bidding for anchor investors will open on June 5, the Noida-based company said in a statement.

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 multiples thereafter.

IKIO Lighting IPO Issue Size:

The total issue size of IKIO Lighting IPO is worth ₹607 crore, comprising of 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.

IKIO Lighting IPO Lot Size:

The lot size of IKIO Lighting IPO is 52 shares, making the minimum investment amount for retail investors at ₹14,820. Retail investors can bid upto 13 lots.

IKIO Lighting IPO Basis of Allotment:

The basis of allotment of IPO shares will be fixed on June 13 and the initiation of refunds will take place 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 June 16 at BSE and NSE.

IKIO Lighting IPO Objective of the Issue:

The company proposes to utilise the proceeds from the fresh issuance for debt payment, investment in its wholly-owned subsidiary IKIO Solutions and for general corporate purposes.

IKIO Lighting IPO Registrar:

Kfin Technologies is the registrar to the issue.

IKIO Lighting IPO Lead Managers:

Motilal Oswal Investment Advisors is the sole book-running lead manager to the IKIO Lighting IPO.

IKIO Lighting IPO GMP Today:

IKIO Lighting IPO grey market premium (GMP) today is ₹50 per share. The IKIO Lighting IPO GMP on June 2 has remained unchanged as compared to the GMP on June 1. The GMP on May 31 was ₹20.