IKIO Lighting IPO opens today: 10 things to know before you subscribe

Jun 6, 2023

By: Rounak Jain

Credit: IKIO Lighting

IPO dates

The IKIO Lighting IPO will open on June 6 and close on June 8, 2023. The price band for the IPO is set between ₹270-285 per share.

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Size of the IPO

The size of the IKIO Lighting IPO is ₹606.5 crore. This includes ₹350 crore worth fresh equity, and the balance ₹256.5 crore being offer for sale (OFS) by the promoters.

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Objective of the IPO

IKIO intends to repay debt worth ₹50 crore and invest ₹212.3 crore in its subsidiary, IKIO Solutions. The subsidiary will set up a new manufacturing facility in Noida.

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Grey market premium

The shares of the company are currently commanding a grey market premium (GMP) of ₹96 per share, which is over 33 percent higher than the issue price of ₹295.

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Here’s what IKIO Lighting does

Founded in 2016, IKIO Lighting is an original design manufacturer (ODM) of light emitting diode (LED) lighting solutions. It has four manufacturing facilities – one in Uttarakhand and three in Noida.

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More about the company

IKIO’s products are divided across LED lighting, refrigeration lights, ABS piping and others. The company makes products for its customers, which then distribute these products under their own brands.

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In FY22, IKIO reported a net profit of ₹28 crore, and ₹20.58 crore in FY21. In the nine months ended December 2022, the company reported a net profit of ₹34.6 crore. Its revenue stood at ₹240.7 crore at the end of December 2022, ₹219.9 crore in FY22 and ₹159.7 crore in FY21.

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Promoters Hardeep Singh and Surmeet Kaur hold a 100 percent stake in the company. While Singh is the MD and chairman, Kaur is a whole-time director.

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Key risks

IKIO’s revenue from a single customer, Signify Innovations India, stood at 70.04 percent at the end of December 2022. It also relies on LED lighting products for 91.27 percent of its total revenue. Any reduction in orders by Signify or an adverse change in LED components could have a material impact on the company.

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Listing and allotment date

The company’s shares will be allotted to investors on June 13. The shares will be listed on the stock exchanges on June 16.

Credit: BCCL

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