IKIO Lighting IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The IKIO Lighting IPO opens on June 6 and closes on June 8, 2023. According to the DRHP filed in SEBI, the company intends to raise approximately ₹ 607 crores through this public offering.
IKIO Lighting Limited (“the Company”)
Incorporated in 2016. IKIO Lighting Limited is an Indian manufacturer of light-emitting diode (“LED”) lighting solutions. They are focused on sustainability and providing low-energy LED products to help India meet its sustainability goals. company is primarily an original design manufacturer (“ODM”) and designs, develops, manufactures, and supplies products to customers who then further distribute these products under their own brands. They also work with their own customers to develop, manufacture, and supply products that are designed by them.
Company products are classified as
- LED lighting;
- refrigeration lights;
- ABS (acrylonitrile butadiene styrene) piping; and other products.
Company LED lighting offerings focus on the premium segment and include lighting, fittings, fixtures, accessories, and components. The company’s largest customer is Signify Innovations India Limited, erstwhile Philips Electronics India Limited (“Signify (Philips)”), which according to Frost & Sullivan in Fiscal 2022 had a 50% market share in India’s functional decorative lighting category (including LED spotlights, LED downlights, and cove lights) and a 10% market share in India’s true-blue decorative lighting segment (including chandeliers, wall lights, pendants, and outdoor lights).
Company strength
- Poised to capture growth of LED market
- Diverse product basket with focus on high-margin areas
- Long-term relationships with leading industry customers
- Strong focus on R&D
- Established infrastructure with backward integration
- Strong and consistent financial performance
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Repayment or prepayment, in full or part, of certain borrowings availed by the company and its subsidiaries on a consolidated basis
- Investment in the wholly owned subsidiary, IKIO Solutions Private Limited, for setting up a new facility in Noida, Uttar Pradesh
- General corporate purposes
Financial Highlights (Restated)
| Particulars | The period ended on 31st Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 127 | 76 | 48 | 28 |
| Total Assets | 321 | 113 | 74 | 51 |
| Total Borrowings | 136 | 16 | 5 | 8 |
| Total Revenue | 321 | 113 | 74 | 51 |
| Profit After Tax | 35 | 28 | 21 | 16 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 270 to ₹ 285 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 52 shares |
| Issue Size | [.] shares (aggregating up to ₹ 607 crores) |
| Fresh Issue | [.] shares (aggregating up to ₹ 350 crores) |
| Offer for Sale | 9,000,000 shares of ₹ 10 each (aggregating up to ₹ [.] crores) |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| Listing At | NSE, BSE |
| Company Promoters | Hardeep Singh and Surmeet Kaur |
GMP: IKIO Lighting IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: IKIO Lighting IPO
The issue opens for subscription on June 6, 2023, and closes for subscription on June 8, 2023 (both days inclusive). The basis of allotment will be finalised on June 13, 2023, and the refunds will be initiated on June 14, 2023. In addition, the demat credits are expected to happen on June 15, 2023, and the stock will be listed on the NSE and BSE on June 16, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | June 6, 2023, |
| Closing Date | June 8, 2023 |
| Basis of Allotment | June 13, 2023 |
| Initiation of Refunds | June 14, 2023 |
| A credit of shares to Demat A/c | June 15, 2023 |
| Listing Date | June 16, 2023 |
Lot Size
The lot size of the IKIO Lighting IPO is 52 shares. A retail-individual investor can apply for up to 13 lots, i.e. 676 shares of ₹ 192,660.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 52 | ₹ 14,820 |
| Retail (Maximum) | 13 | 676 | ₹ 192,660 |
| S-HNI (Minimum) | 14 | 728 | ₹ 207,480 |
| S-HNI (Maximum) | 67 | 3,484 | ₹ 992,940 |
| B-HNI (Minimum) | 68 | 3,536 | ₹ 1,007,760 |
Promoters Holdings
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | IKIO Lighting Limited 411, Arunachal Building,19 Barakhamba Road, Connaught Place, New Delhi – 110 001 Phone: +91 120 – 4116186 Email: secretarial@ikiolighting.com Website: http://www.ikio.in/ |
| IPO Registrar | Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: ikiolighting.ipo@kfintech.com Website: https://karisma.kfintech.com/ |
| IPO Lead Manager(s) | Motilal Oswal Investment Advisors Pvt Ltd |
FAQs
When will the IKIO Lighting IPO allotment be available?
The finalisation of the basis of allotment for the IKIO Lighting IPO will be done on June 13, 2023, and the allotted shares will be credited to your demat account by June 15, 2023. Check the IKIO Lighting IPO allotment status.
When will the IKIO Lighting IPO list on exchanges?
The IKIO Lighting IPO shares listing date is June 16, 2023.
How many IKIO Lighting IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net Issue, NII (HNI) is 15% of the net issue, and Retail is 35%.
