IKIO Lighting IPO Today: LED lighting manufacturing company's IPO opens, know from GMP to other details
IKIO Lighting IPO Today: If you like to invest in IPO, there is good news for you. Rs 607 crore IPO of Noida's LED lighting manufacturing company has opened.
IKIO Lighting IPO Today: There is a golden opportunity for those investing money in IPO i.e. Initial Public Offering. The IPO of Noida's LED lighting manufacturing company IKIO Lighting Ltd has opened from today. Investors can invest money in this IPO from June 6 to June 8. The size of the IPO is Rs 607 crore (IKIO Lighting IPO Size). Fresh shares worth Rs 350 crore have been issued in this IPO and 90 lakh shares will be sold through offer for sale.
What is the price band of IPO ?
The price band of IKIO Lighting IPO has been fixed at Rs 270 to Rs 285 per share. At the same time, in this IPO, the promoters of the company Hardeep Singh and Sumit Sind Kaur will sell 60 lakh and 30 lakh equity shares through offer for sale. The company has already raised Rs 182 crore through anchor investors. The IPO opened for anchor investors on June 5, 2023. According to the information given on the Bombay Stock Exchange, the company has issued a total of 63.84 lakh equity shares at a base price of Rs 285 to anchor investors of 16 funds.
What is GMP Price?
A tremendous increase has been recorded in the GMP price of IKIO Lighting IPO on Tuesday. Today the GMP price of this IPO has increased from Rs 70 to Rs 90 per share. In such a situation, this IPO is at a premium of Rs 90 in the gray market. According to experts, by the day of listing, the company's stock will reach Rs 375 per share. To invest money in this IPO, you have to bid on at least 52 shares. In this case, in the price band of Rs 270 to 285, you will have to spend Rs 14,820 to place a minimum bid. Retail Investment A maximum of 13 lots can be bid. In this IPO, 50 percent of the share has been reserved for Qualified Institutional Buyers (QIB), 15 percent for non-institutional investors and 35 percent for retail investors.
What will the company do with the money raised from the IPO?
Giving information about the IPO, IKIO Lighting has said that the company will repay its loan with the money raised through this IPO. Along with this, the company will fulfill its other corporate objectives with this money. The allotment of shares of this company will take place on 13th June. The shares will be credited to the demat account on June 15.