IKIO Lighting, situated in Noida, will launch its initial public offering (IPO) in June 2023. Check out the price band and other details here
From June 6 to June 8, the general public may subscribe for the inaugural share sale in the three-day initial public offering (IPO) of LED lighting solutions supplier IKIO Lighting Ltd.
Cost Range:
The pricing range for IKIO Lighting Ltd’s first public offering has been set at Rs. 270-285 per share. The firm is valued at Rs 2,200 crore at the high end of this pricing range.
The initial public offering (IPO), which lasted three days, ended on June 8. The red herring prospectus (RHP) for the firm states that the bidding for anchor investors will begin on June 5.
The Noida-based company had said that reimbursements would begin on June 14 and that the stock will float on bourses on June 16.
The offer comprises of a new equity share issuance worth up to Rs 350 crore and an offer-for-sale (OFS) by the founders, Hardeep Singh and Surmeet Kaur, of almost 90 lakh equity shares. The business anticipates raising more than Rs 600 crore from the IPO at the upper band pricing.
50 crores of the profits from the new issue would be used to pay off debt, and 212.31 crores will be used by the company’s totally owned subsidiary, IKIO Solutions, to build a new facility in Noida (Uttar Pradesh), as well as for other corporate needs.
According to the company’s RHP, the Cap Price must be at least 105 percent of the Floor Price.
Leading suppliers of ODM lighting, hardware, and component solutions, IKIO Lighting serves customers in the USA and India.
According to the business’s website, Signify Innovations India Limited, formerly known as Philips Electronics India Limited (“Signify (Philips)”), is IKIO’s biggest client. According to Frost & Sullivan, Signify (Philips) held a 50% market share in India’s functional decorative lighting category (which includes LED spotlights, LED downlights, and cove lights) and a 10% market share in the country’s traditional decorative lighting segment (which includes chandeliers, wall lights,
The business specialises in offering goods and services that save costs, increase productivity, and distribute the finest LED lighting solutions.
Examining the financials of the business
The firm recorded consolidated revenue of Rs 331.84 crore for the fiscal year 2023 as opposed to Rs 213.45 crore the previous year. The company’s net profit for the year was Rs 50.52 crore, up from Rs 28.81 crore in the same time last year. As of December of the previous year, the firm owed a total of Rs. 145.27 crore.
One of India’s sectors with the quickest growth is electronics. In order to reach INR 17,902 billion (USD 240 billion) in Fiscal 2026, India’s overall electronics market—which comprises domestic electronic manufacturing and imported electronic finished goods—is anticipated to expand at a CAGR of 17.9%.
