AgenciesWhile the NII part was subscribed 8.01 times, the retail category was not too behind with 3.85 times subscription. The category reserved for QIB, however, was muted at 33%.
According to markets, the grey market premium (GMP) of the company has been on the upward trend for the past few days. The company's shares are commanding a premium of Rs 118 in the unlisted market, with listing gains looking more and more likely.
The issue, which closes on June 8, comprises fresh equity issue of up to Rs 350 crore and an offer for sale (OFS) of up to 90 lakh shares.
The company has set a price band of Rs 270-285 per equity share and investors can bid for a minimum of 52 shares in one lot and multiples thereafter. At the upper end, the company plans to raise about Rs 607 crore.
About 50% of the offer is reserved for qualified institutional buyers (QIB), 35% of the issue is set aside for retail investors and 15% for non-institutional investors.
IKIO Lighting designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands.
The company is largely into manufacturing premium products. Its products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and others.
Ahead of the issue opening, IKIO Lighting has garnered Rs 182 crore from 14 anchor investors. The company has allocated 63.84 lakh equity shares at Rs 285 per share on June 5 to anchor investors.
Motilal Oswal Investment Advisors is the sole book running lead manager and KFin Technologies is the registrar to the offer.
(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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