Bookbuilding IPO | ₹606 Cr | Listed at BSE, NSE | Tue, Jun 6, 2023 - Thu, Jun 8, 2023
IKIO Lighting IPO is a book build issue of ₹606.50 crores. The issue is a combination of fresh issue of 1.23 crore shares aggregating to ₹350.00 crores and offer for sale of 0.90 crore shares aggregating to ₹256.50 crores.
IKIO Lighting IPO bidding started from Jun 6, 2023 and ended on Jun 8, 2023. The allotment for IKIO Lighting IPO was finalized on Jun 13, 2023. The shares got listed on BSE, NSE on Jun 16, 2023.
IKIO Lighting IPO price band is set at ₹285 per share. The lot size for an application is 52. The minimum amount of investment required by an retail is ₹14,820 (52 shares) (based on upper price). The lot size investment for sNII is 14 lots (728 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (3,536 shares), amounting to ₹10,07,760.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to IKIO Lighting IPO RHP for detailed Information.
IPO Open
Tue, Jun 6, 2023
IPO Close
Thu, Jun 8, 2023
Issue Price
₹285 per share
Market Cap (Pre-IPO)
₹2,202.50 Cr
| IPO Date | 6 to 8 Jun, 2023 |
| Listed on | Fri, Jun 16, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹270 to ₹285 |
| Issue Price | ₹285 per share |
| Lot Size | 52 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,12,80,701 shares (agg. up to ₹606 Cr) |
| Fresh Issue | 1,22,80,701 shares (agg. up to ₹350 Cr) |
| Offer for Sale | 90,00,000 shares of ₹10 (agg. up to ₹257 Cr) |
| Share Holding Post Issue | 7,72,80,701 shares |
| BSE Script Code / NSE Symbol | 543923 / IKIO |
| ISIN | INE0LOJ01019 |
IKIO Lighting IPO offers total 2,12,80,701 shares. Out of which 1,06,40,349 (50.00%) allocated to QIB, 42,56,140 (20.00%) allocated to QIB (Ex- Anchor), 31,92,106 (15.00%) allocated to NII 74,48,246 (35.00%) allocated to RII and 63,84,209 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,06,40,349 (50.00%) | NA |
| − Anchor Investor Shares Offered | 63,84,209 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 42,56,140 (20.00%) | NA |
| NII (HNI) Shares Offered | 31,92,106 (15.00%) | NA |
| − bNII > ₹10L | 21,28,070 (10.00%) | 2,923 |
| − sNII < ₹10L | 10,64,036 (5.00%) | 1,461 |
| Retail Shares Offered | 74,48,246 (35.00%) | 1,43,235 |
| Total Shares Offered | 2,12,80,701 (100.00%) |
Investors can bid for a minimum of 52 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 52 | ₹14,820 |
| Retail (Max) | 13 | 676 | ₹1,92,660 |
| S-HNI (Min) | 14 | 728 | ₹2,07,480 |
| S-HNI (Max) | 67 | 3,484 | ₹9,92,940 |
| B-HNI (Min) | 68 | 3,536 | ₹10,07,760 |
IKIO Lighting IPO raises ₹181.95 crore from anchor investors. IKIO Lighting IPO Anchor bid date is June 5, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Jun 5, 2023 |
| Shares Offered | 63,84,209 |
| Anchor Portion (₹ Cr.) | 181.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jul 13, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Sep 11, 2023 |
Incorporated in 2016, IKIO Lighting Limited is an Indian manufacturer of light-emitting diode (LED) lighting solutions. In its journey of over seven years, the entity focused on providing sustainability and low-energy LED products to help India meet its sustainability goals.
The product portfolio of IKIO can be categorized as LED lighting, Refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and other products.
The company is primarily an Original Design Manufacturer (ODM). They design, develop, manufacture and supply products to customers. Thereon, the customers further distribute the products under their own brands. Alongside, they also work with the customers to develop, manufacture and supply products as designed by the customers.
The company's LED lighting offerings focus on the premium segment and include lighting, fittings, fixtures, accessories, and components. The products are designed and created to cater to the distinct requirements and expectations of the customers.
The total revenue of IKIO Lighting Limited in the preceding financial years 2022, 2021, and 2020 was 3,339.95 million, .72 million, and 2,218.28 million, respectively.
| Period Ended | 31 Dec 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 335.50 | 264.87 | 174.45 | 144.83 |
| Total Income | 332.79 | 334.00 | 214.57 | 221.83 |
| Profit After Tax | 51.35 | 50.52 | 28.81 | 21.41 |
| NET Worth | 140.83 | 108.87 | 62.86 | 35.90 |
| Total Borrowing | 136.33 | 106.56 | 69.36 | 46.86 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ prepayment, in full or part, of certain borrowings availed by the Company and its Subsidiaries on consolidated basis; | 50.00 |
| 2 | Investment in our wholly owned Subsidiary, IKIO Solutions Private Limited, for setting up a new facility at Noida, Uttar Pradesh; and | 212.31 |
| 3 | General corporate purposes. | 66.96 |
| KPI | |
|---|---|
| ROE | 36.00% |
| ROCE | 26.00% |
| Debt/Equity | 1.03 |
| RoNW | 36.46% |
| PAT Margin | 15.12% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.90 | |
| P/E (x) | 32.13 | |
| Promoter Holding | 100.00% | 72.46% |
| Market Cap | ₹2,202.50 Cr. |
The IKIO Lighting IPO is subscribed 67.75 times on June 8, 2023 7:02:00 PM (Day 3). The public issue subscribed 14.31 times in the retail category, 163.06 times in the QIB category, and 65.38 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 163.06 | 42,56,140 | 69,40,10,148 |
| NII | 65.38 | 31,92,107 | 20,87,14,480 |
| bNII (bids above ₹10L) | 69.01 | 21,28,071 | 14,68,60,324 |
| sNII (bids below ₹10L) | 58.13 | 10,64,036 | 6,18,54,156 |
| Retail | 14.31 | 74,48,246 | 10,65,64,068 |
| Total | 67.75 | 1,48,96,493 | 1,00,92,88,696 |
Total Application : 16,33,854
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager’ fees and commissions (including underwriting commission, brokerage and selling commission) | 18.48 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.23 |
| 3 | Fees payable to the Registrar to the Offer | 0.21 |
| 4 | Others | |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 2.73 |
| 6 | Printing and stationery expenses | 0.82 |
| 7 | Advertising and marketing expenses | 3.07 |
| 8 | Fees payable to legal counsels | 3.59 |
| 9 | Payment to other advisors to the offer (Auditors, Chartered Engineer, Industry Expert and other consultants) | 3.35 |
| 10 | Miscellaneous | 1.46 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹285.00 | ₹285.00 |
| Open | ₹391.00 | ₹392.50 |
| Low | ₹391.00 | ₹392.00 |
| High | ₹427.40 | ₹427.50 |
| Last Trade | ₹403.75 | ₹403.85 |
Lead Manager Reports
IKIO Lighting IPO is a main-board IPO of 2,12,80,701 equity shares of the face value of ₹10 aggregating up to ₹606 Crores. The issue is priced at ₹285 per share. The minimum order quantity is 52.
The IPO opens on Tue, Jun 6, 2023, and closes on Thu, Jun 8, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in IKIO Lighting IPO using UPI as a payment gateway. Zerodha customers can apply in IKIO Lighting IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IKIO Lighting IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IKIO Lighting IPO opens on Tue, Jun 6, 2023 and closes on Thu, Jun 8, 2023.
IKIO Lighting IPO lot size is 52, and the minimum amount required for application is ₹14,820.
You can apply in IKIO Lighting IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for IKIO Lighting IPO will be done on Tuesday, June 13, 2023, and the allotted shares will be credited to your demat account by Thu, Jun 15, 2023. Check the IKIO Lighting IPO allotment status.
The IKIO Lighting IPO listing date is on Fri, Jun 16, 2023.
