IKIO Lighting Shares End At 42.02% Premium Over IPO Price On Debut

The shares of IKIO Lighting listed at Rs 391 apiece on the BSE, a premium of 37.19% to their initial public offering price of Rs 285 apiece. On the National Stock Exchange of India, the stock debuted at Rs 392.5, a 37.71% premium.

Shares of IKIO Lighting Ltd. ended at a premium of 42.02% over the IPO price and it gained 3.52% from its listing price to end at Rs 404.75 apiece.

The LED lighting solution provider company launched its initial public offering on June 6. The three-day issue closed on June 8.

The Rs 606.5 crore IPO was subscribed 66.30 times on day three. The offer included a fresh issue of Rs 350 crore and an offer for sale of around 90 lakh shares. The IPO was subscribed 1.51 times on the opening day and 6.83 times on the second day.

The company is a manufacturer of light-emitting diode, or LED, lighting solutions. It is primarily an original design manufacturer that designs, develops, manufactures, and supplies products to customers, who further distribute these products under their own brands.

The company has four manufacturing facilities, with one located in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida.