SEBI gives nod to IKIO Lighting to launch IPO

21 Dec 2022 , 12:57 PM

SEBI has given approval to launch initial public offer (IPO) to IKIO Lighting. The company has filed its draft papers with the market regulator to come up with public offer in October 2022. 

As per DRHP, the IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of 75,00,000 shares by promoters.

The company aims to use the net proceeds from the issue to repay debt and to set up a manufacturing unit in Noida, Uttar Pradesh. 

IKIO Lighting is engaged in the business of manufacturing light emitting diode (“LED”). The company is primarily an original design manufacturer (“ODM”) and design, develop, manufacture and supply products to customers who then further distribute these products under their own brands.

Motilal Oswal Investment Advisors is the book running lead manager (BRLM). KFin Technologies Limited is the registrar of the IPO.