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IKIO Lighting: LED Light Manufacturer Shines for Second Day, Price Up 51%

<p>A day after its exchange debut, IKIO Lighting’s shares increased 9% to Rs 432.95 in Monday’s session on the BSE. 84 lakh shares were traded on the National Stock Exchange, up 7.2 percent from the previous close.</p>
<p>Since its IPO price of Rs. 285 for the stock, it has increased by 51%.<img decoding=”async” loading=”lazy” class=”alignnone wp-image-30510″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/06/www.theindiaprint.com-ikio-lighting-led-light-manufacturer-shines-for-second-day-price-up-51-ikio-lighting-solution-2023-06-4768a87805863ed54fdbf2c56cad9759-750×485.jpg” alt=”” width=”1411″ height=”912″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/06/www.theindiaprint.com-ikio-lighting-led-light-manufacturer-shines-for-second-day-price-up-51-ikio-lighting-solution-2023-06-4768a87805863ed54fdbf2c56cad9759-750×485.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/06/www.theindiaprint.com-ikio-lighting-led-light-manufacturer-shines-for-second-day-price-up-51-ikio-lighting-solution-2023-06-4768a87805863ed54fdbf2c56cad9759-768×496.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/06/www.theindiaprint.com-ikio-lighting-led-light-manufacturer-shines-for-second-day-price-up-51-ikio-lighting-solution-2023-06-4768a87805863ed54fdbf2c56cad9759.jpg 862w” sizes=”(max-width: 1411px) 100vw, 1411px” /></p>
<p>On IKIO Lighting’s IPO day, June 16, Quant Mutual Fund purchased more than 2% of the company’s stock, while a Canadian pension fund sold roughly Rs 100 crore worth of Piramal Pharma shares via open market transactions.</p>
<p>According to the bulk transactions data made public by the exchanges, Quant Mutual Fund purchased a total of 12.03 lakh shares, or a 2.15 percent interest in IKIO Lighting, via the Quant Quantamental Fund, which also purchased another 6.02 lakh shares.</p>
<p>The maker of LED lighting solutions set the average purchase price for the aforementioned shares at Rs. 409.08 per share. The stock had a fantastic first day on the market, surging 41.7% to close at Rs 403.75.</p>
<p>IKIO Lighting’s maiden equity auction, which was up for bids from June 6 to June 8, brought in roughly Rs 607 crore. With a lot size of 52 equity shares, the business had established a price range for the offering of Rs 270-285 per share. During the three-day bidding procedure, the issue received a robust reaction from the investors.</p>
<p>The IPO received a total of 66.30 times subscription, with qualified institutional bids (QIB) receiving 163.68 times subscription, non-institutional investors (NIIs) receiving 63.35 times subscription, and retail investors receiving 13.86 times subscription.</p>
<p>IKIO Lighting, a company located in Noida, was founded in 2016 and produces LED lighting products. The business mostly produces original designs (ODM). Offerings for LED lighting from the firm are geared at the high-end market.</p>
<p>Is it better to buy, sell, or hold?</p>
<p>IKIO Lighting Ltd. achieved a solid market entry at a listing price of Rs. 392, according to Anubhuti Mishra, an equity research analyst at Swastika Investmart Ltd. The company’s issue price in the top band was Rs 285; hence, the benefit for investors is almost 37% more than anticipated. We still have a positive outlook on this because of its strong emphasis on R&D and backward integration, its long-standing client relationships, and its consistent financial performance. Therefore, we advise investors to hold onto this share for longer by maintaining a stop loss 10% below its listing price.</p>

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