Unbelievable Run! This IPO is On a Roll - There's No Stopping It!"
The issue was subscribed by a whooping 67 times.
The IKIO Lighting Limited shares made a stellar debut. On june 19, 2023 the shares are trading at a new 52 -week high of Rs 455 per share on BSE.
IKIO Lighting creates, develops, manufactures and sells items to customers who subsequently resell them under their own names.
The company made its debut on June 16, 2023.
Here are a few IPO details:
The net proceeds of the public offering will be used to settle debts, invest in its subsidiary IKIO Solutions for the establishment of a new facility in Noida and for other general corporate objectives.
The Rs 607 crore IPO, which included a fresh issue of Rs 350 crore and an offer of sale (OFS) of 90 lakh equity shares, drew a huge reaction from investors, making it one of the year's most successful primary market issues.
The issue was subscribed by a whooping 67 times. While qualified institutional buyers (QIBs) received 163.58 times, non-institutional investors received 63.35 times and individual investors received 13.86 times.
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Over FY20-22, the company's consolidated sales increased at a CAGR of 23 per cent, headed by the headed lighting segment, which increased at a CAGR of 24 per cent during the same period.
Revenue from operations on a proforma consolidated basis jumped 55 per cent year on year to Rs 331 crore in FY22, while profit after tax increased 75 per cent year on year to Rs 50.5 crore.
Investors must keep a close eye on this trending stock.