IKIO Lighting IPO subscribed 6.83 times on Day 2 of bidding

The initial public offering (IPO) of IKIO Lighting Ltd received healthy response from investors on second day of bidding.

The IPO was subscribed 6.83 times on Day 2 and received bids for 10,40,31,096 shares against 1,52,24,074 shares on offer, according to NSE data.

Further, the portion for non-institutional investors received 15.99 times subscription while Retail Individual Investors (RIIs) was subscribed 5.92 times and Qualified Institutional Buyers (QIBs) category received 1.37 times subscription.

The public issue that has opened for subscription on Tuesday, June 6, will close today i.e. Thursday, June 8.

The company has set a price band of Rs 270-285 per equity share and investors can bid for a minimum of 52 shares in one lot and multiples thereafter. At the upper end, the company plans to raise about Rs 607 crore.

Source: Media reports