Incorporated in 2016, the Noida-based IKIO Lighting manufactures light-emitting diode (LED) lighting solutions and it an original design manufacturer. IKIO Lighting is all set to make its debut at Dalal Street on Friday and the company is headed for a strong debut at Dalal Street, if one goes by the signals from the grey market. The company is commanding a solid premium in the official market ahead of its listing tomorrow. Last heard, shares of IKIO Lighting were demanding a premium of Rs 105-110 apiece in the grey market, suggesting an upside of about 40 per cent over its issue price at Rs 285 per share. The grey market premium has increased from Rs 90-95 amid the rising buzz in the grey market activity, the sources said. According to the experts tracking grey markets, IKIO Lighting is headed for a strong listing pop for the investors as the grey market deals have increased lately after the allotment of shares is finalized. Investors are looking to make a quick buck from its listing on Friday. Abhay Dosh, Co-founder of UnlistedArena said that the company's valuations were moderate, rather than inexpensive and its fundamentals and balance sheet continue to remain strong. There is some euphoria after a strong subscription for the issue ahead of listing and it is headed for handsome listing pop on Friday. IKIO Lighting raised about Rs 607 crore from its initial stake sale, which was open for bidding between June 6-8. The company had a price band of Rs 270-285 apiece for the issue with a lot size of 52 equity shares. The issue garnered a strong response from the investors during the three-day bidding process. Considering the overwhelming response, the IKIO IPO received and its current grey market premium, we can expect an upside listing at around 30-35 per cent, and the company's current performance and growth potential justify this gain, said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart. "IKIO's strong focus on R&D and backward integration, its well-established relationship with clients, and its consistent financial performance are also some reasons why this IPO is attracting such demand," she said. The issue of IKIO Lighting was overall subscribed more than 66.30 times, with the portion for qualified institutional bidders was booked 163.68 times; the category for non-institutional investors' category subscribed 63.35 times and the quota reserved for retail investors was subscribed 13.86 times. Incorporated in 2016, the Noida-based IKIO Lighting manufactures light-emitting diode (LED) lighting solutions. The company is primarily an original design manufacturer (ODM). The company's LED lighting offerings focus on the premium segment.