ETMarkets.comIKIO Lighting has received approval from Sebi for its proposed initial public offering of shares. The Noida-headquartered company had filed draft papers with the capital market regulator for a public issue in October.
The IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of 75,00,000 shares by promoters.
Of the total proceeds from the fresh issue, the company plans to use Rs 50 crore to repay debt, and infuse Rs 240 crore into arm IKIO Solutions for setting up a manufacturing facility in Noida, Uttar Pradesh.
The company is in the business of manufacturing light-emitting diode lighting solutions. Investment Advisors is the book running lead manager to the issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of 75,00,000 shares by promoters.
Of the total proceeds from the fresh issue, the company plans to use Rs 50 crore to repay debt, and infuse Rs 240 crore into arm IKIO Solutions for setting up a manufacturing facility in Noida, Uttar Pradesh.
The company is in the business of manufacturing light-emitting diode lighting solutions. Investment Advisors is the book running lead manager to the issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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