IKIO Lighting IPO to kick start on June 6; check important details here

31 May 2023 , 10:48 AM

Noida-based LED lighting solutions provider IKIO Lighting Ltd is all set to open its initial public offer (IPO) on June 6. The offer will conclude on June 8 and the anchor investors bidding will open on June 5, as per the details provided in RHP.

IKIO Lighting Limited is an Indian manufacturer of light-emitting diode (LED) lighting solutions was incorporated in the year 2016 and coming up with an initial share sale which consists fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by promoters Hardeep Singh and Surmeet Kaur.

As per DRHP, the company will use net proceeds from the issue towards Repayment/ prepayment of certain borrowings, Investment in the wholly owned Subsidiary, IKIO Solutions Private Limited to set up new facility, and for other general corporate purposes.

The company is s primarily an original design manufacturer (ODM) and designs, develops, manufactures, and supplies products to customers who then further distribute these products under its brands. It has four manufacturing facilities with one located in Haridwar and other three in Noida.

Motilal Oswal Investment Advisors is the sole merchant bank of the issue and KFin Technologies Limited is the registrar of the IPO.

The shares of the issue will list on BSE and NSE.

IKIO Lighting IPO important details:

Open date	6 June 2023
Close date	8 June 2023
Lot size	NA
IPO size (Rs crore)	NA
IPO price range (Rs)	NA
Minimum investment	NA
Basis of allotment date	13 June 2023
Refunds date	14 June 2023
Credit to demat account date	15 June 2023
Listing date	16 June 2023