IKIO Lighting Rs 607 Crore IPO Shines Bright: Key Details

By Umesh

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IKIO Lighting's initial public offering (IPO) worth Rs 607 crore will open for public subscription on June 6.

 The price band for the IPO is set at Rs 270 to Rs 285 per share, and the issue will close on June 8.

The IPO consists of a fresh issue of equity shares worth Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh shares by existing shareholders.

Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter.

  Promoters Hardeep Singh and Surmeet Kaur will sell a total of 90 lakh shares under the OFS.

 IKIO Lighting is a LED lighting manufacturer.

Motilal Oswal Investment Advisors is the sole book-running lead manager for the IPO.

The company revenue from operations for the nine months ended December 31, 2022, was Rs 328.63 crore, and profit after tax was Rs 51.35 crore.

In FY22, the company achieved a revenue growth of 55.47% and a profit after tax increase of 75.37% compared to FY21.

Some of the company's peers include Dixon Technologies, Amber Enterprises, Syrma SGS Technology, and Elin Electronics.

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