IKIO Lighting IPO subscribed 66.3 times

The Initial Public Offering (IPO) of IKIO Lighting worth Rs 606.50 crore saw a strong response from all classes of investors, with 66.29 times subscribed last.

The offer, which opened for subscription on Tuesday at a price of $270-285, received bids of Rs 100.92 crore shares for 1.52 crore shares offered, according to data available on exchanges.

The eligible institutional segment was the most oversubscribed at 163.58 times, followed by non-institutional investors (generally referred to as HNIs) at 63.35 times and retail investors at 13.86 times.

The IPO of the LED lighting manufacturer in India consists of a fresh issuance of equity shares worth Rs 350 crore and an offer for sale of up to 90,000 shares by existing shareholders.

The main investors

As part of the IPO process, IKIO Lighting has secured Rs 181.94 crore from 14 anchor investors before the opening of the issue by allocating 63.84 lakh shares at a price of US$285 per share.

Foreign and local institutional investors who participated in the anchor include HDFC Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs Asset Management, Malabar India Fund, Mirae Asset Global, Rohdea Master Fund, Motilal Oswal Select Opportunities Fund, Cohesion MK Best Ideas, and Bengal Finance and Investment. .