IKIO Lighting IPO Collects ₹182 Crore From Anchor Investors

LED lighting solution provider company IKIO Lighting Ltd. is launching its IPO. The company has already collected ₹182 crore from anchor investors.

IKIO Lighting Ltd, a leading LED lighting solution provider, has announced the launch of its initial public offering (IPO) in India. 

The company has raised Rs 182 crore from anchor investors, including Societe Generale, Citigroup Global Markets Mauritius, Goldman Sachs, Malabar India Fund, Quant Mutual Fund, HDFC MF, and ICICI Prudential MF. The IPO will open for public subscription from June 6 to June 8.

The IPO comprises a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale of up to 90 lakh equity shares by promoters Hardeep Singh and Surmeet Kaur.

The shares are priced in a range of Rs 270 to Rs 285 per share. At the upper end of the price band, the IPO is expected to raise Rs 606.5 crore. 

The proceeds from the fresh issuance will be utilized for debt payment, setting up a new facility in Noida, Uttar Pradesh, and general corporate purposes.

The IPO allocation is divided, with 50% reserved for qualified institutional buyers, 35% for retail investors, and the remaining 10% for non-institutional investors. Investors can bid for a minimum of 52 equity shares and in multiples of 52 shares thereafter.

IKIO Lighting is primarily an original design manufacturer (ODM) that designs, develops, manufactures, and supplies LED lighting products to customers, who then distribute these products under their own brands. 

The company has four manufacturing facilities, including one in Uttarakhand’s SIDCUL Haridwar industrial park and three in Noida in the National Capital Region.

The company’s revenue from operations increased by 55.47% year-on-year, reaching Rs 331.84 crore in fiscal year 2022, compared to Rs 213.45 crore in fiscal year 2021. Its profit after tax also grew by 75.37% to Rs 50.52 crore during the same period.

Motilal Oswal Investment Advisors is the sole book-running lead manager for the IPO, and the equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The launch of IKIO Lighting’s IPO might be a good investment opportunity for investors like you in the growth of a reputable LED lighting solution provider in India. But we advise you to research & analyze the company on your own.