IKIO Lighting raises Rs 181.95 crore via anchor book; IPO opens today

6 Jun 2023 , 09:18 AM

Light emitting diode (LED) lighting solutions provider, IKIO Lighting has collected Rs 181.95 crore from anchor investors at the price of Rs 285 per share, upper end of the issue price.

The company said in its exchange filing that it has finalised allocation of 63.84 lakh equity shares to anchor investors, at a price of Rs 285 per share, the upper price band.

A total of 16 investors have invested in the company including HDFC Mutual Fund, ICICI Prudential, Goldman Sachs, Quant Mutual Fund, Malabar India Fund, Mirae Asset India, Rohdea Master Fund, Motilal Oswal Select Opportunities Fund, Cohesion MK Best Ideas, Citigroup, and Societe Generale.

The company plans to raise Rs 607 crore through the public offer opening on June 6 and will be closing on June 8. The issue consists a fresh issue of equity shares worth Rs 350 crore and an offer for sale of 90 lakh equity shares by promoters. 

50% of the total IPO size is reserved for qualified institutional buyers (QIBs), 15% will be allotted to non-institutional investors, and the remaining 35% will be reserved for retail individual investors (RIIs).

IKIO is focused on sustainability and providing low-energy LED products to help India meet its sustainability goal.

IKIO Lighting IPO important details:

Open date	6 June 2023
Close date	8 June 2023
Lot size	52 shares
IPO size (Rs crore)	Rs 607 crore
IPO price range (Rs)	Rs 270 to Rs 285 per share
Minimum investment	Rs 14,820
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