IKIO Lighting makes a strong debut on D-Street, shares list at 38% premium over issue price

Shares of IKIO Lighting (IKIO) made a strong market debut on Dalal Street today. The consumer electronics company listed at Rs 392.5 apiece, a 38% premium over its issue price of Rs 285 per share on the NSE whereas it started trading at Rs 391 on the BSE.

Post listing, the stock surged to a high of Rs 406 on the NSE, up 42% compared to the issue price. A combined 8.7 million shares changed hands on both exchanges.

IKIO IPO saw strong demand with the issue subscribed 67.75 times. The institutional investor portion was subscribed 163.06 times, the high net worth individual (HNI) portion was subscribed 65.38 times, and the retail institutional investor (RII) portion by 14.31 times.

IKIO is an integrated player providing original design manufacture (ODM) services in the LED lighting segment. LED lighting contributes around 87% to overall revenue. The company’s LED lighting offerings focus on the premium segment, including lighting, fittings, fixtures, accessories, and components.

Source: Media reports