IKIO Lighting was incorporated on March 21, 2016. The company specializes in manufacturing light-emitting diode lighting solutions with a strong focus on sustainability. Its aim is to provide low-energy LED products that contribute to India's sustainability goals.
| Bidding Dates |
|---|
| 06 Jun 2023 - 08 Jun 2023 |
| Subscription |
|---|
| 66.3x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,820 | 1 | 13 | 52 | 21.3 M | ₹270 - ₹285 | 72.49 % | ₹5739.3 M - ₹6058.2 M | RHP DOC |
IKIO Lighting IPO SUBSCRIPTION STATUS
08 Jun '23IKIO Lighting IPO overall subscription rate was 66.3 times the total available shares
IKIO Lighting IPO retail subscription rate was 13.86 times in the retail segment
IKIO Lighting IPO non-institutional investor subscription rate was 63.35 times in the non-institutional investor category
IKIO Lighting IPO Qualified Institutional Bidder subscription rate was 163.58 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
08 Jun 2023 (Day 3) | 13.86x | 63.35x | 163.58x |
07 Jun 2023 (Day 2) | 5.92x | 15.99x | 1.37x |
06 Jun 2023 (Day 1) | 1.64x | 2.97x | 0.3x |
IKIO Lighting FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY23 | 345.8 | 2,407.2 | 195.4 | 101.2 | 20.7% |
| FY22 | 280.1 | 2,199.0 | -52.5 | -98.1 | 18.3% |
| FY21 | 205.8 | 1,596.6 | -0.5 | -31.3 | 19.0% |
| FY20 | 159.9 | 1,406.5 | 132.1 | 93.3 | 18.7% |
IKIO Lighting IPO SUBSCRIPTION STATUS DETAILS
IKIO Lighting had 21.3 M shares on offer
IKIO Lighting IPO offer price was in the range ₹270 - ₹285
IKIO Lighting IPO minimum Investment was ₹14820
IKIO Lighting IPO issue size was ₹ 5739.3 M - ₹ 6058.2 M
IKIO Lighting had a minimum lot size of 52 Shares per application
IKIO Lighting NUMBER OF SHARES ON OFFER
IKIO Lighting IPO IMPORTANT DATES
| Issue Open Date | 06 Jun 2023 |
| Issue close Date | 08 Jun 2023 |
| Allotment Date | 13 Jun 2023 |
| Refund Date | 14 Jun 2023 |
| Demat Account Credit Date | 15 Jun 2023 |
| Listing Date | 16 Jun 2023 |
| Listing on Exchange(s) | NSE and BSE |
| IKIO Lighting Allotment Status | Exchange |
IKIO Lighting IPO subscription opened on 06 Jun 2023, and closed on 08 Jun 2023
IPO allotment for IKIO Lighting was finalized on Tuesday, 13 Jun 2023
IPO listing for IKIO Lighting was on NSE and BSE on Friday, 16 Jun 2023
IKIO Lighting IPO LISTING GAINS
| Issue Price (adjusted) | 285.0 |
| Listing Open Price | 392.5 |
| Listing Close Price | 403.9 |
| Listing Gain% | 37.7% |
| Current Gain% | -28.4% |
IKIO Lighting Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IKIO Technologies Ltd. | 204 | 1576.4 | 33.9 | 0.3 | 2.4 | 6.3 | 4.9 | 609.8 | 21.7 | 37.8 | 22.4 | 6 | 125.3 |
| LG Electronics India Ltd. | 1586.5 | 107687.2 | 63.9 | -2.7 | 4.4 | 22 | 12.4 | 24932.8 | 1.2 | 1685.1 | -23.5 | 24.8 | -23.5 |
| Dixon Technologies (India) Ltd. | 14200 | 86821.8 | 46.3 | 0.8 | 1.7 | 30.8 | 7.5 | 49585.8 | 27.5 | 1438.6 | 31.3 | 307 | 58.2 |
| Voltas Ltd. | 1285 | 42518.7 | 113.1 | -2 | 3 | 5.9 | 2.6 | 14482.6 | -8 | 375.9 | -55.3 | 11.4 | -55.3 |
| Blue Star Ltd. | 1514 | 31130.1 | 61.1 | -9.7 | 2.4 | 15.4 | 6.2 | 12463.9 | 3.5 | 527.7 | -10.8 | 24.8 | -6.3 |
| Amber Enterprises India Ltd. | 7435 | 26221.6 | 147.6 | -5.5 | 2.2 | 4.1 | 1.3 | 12306.6 | 22.5 | 177.6 | -27.1 | 50.4 | -27.1 |
IKIO Lighting INFORMATION ON IPO ISSUE
About IKIO Lighting
IKIO Lighting was incorporated on March 21, 2016. The company specializes in manufacturing light-emitting diode lighting solutions with a strong focus on sustainability. Its aim is to provide low-energy LED products that contribute to India's sustainability goals.
Object of the Issue
- Repayment/prepayment, in full or part, of certain borrowings availed by the company and its subsidiaries on a consolidated basis
- Investment in its wholly owned subsidiary, IKIO Solutions Private Limited, for setting up a new facility at Noida, Uttar Pradesh
- General corporate purposes
IKIO Lighting - PROMOTERS
| Name |
|---|
| Hardeep Singh |
| Surmeet Kaur |
IKIO Lighting Book Running Lead Manager
Motilal Oswal Investment Advisors Limited
ikio.ipo@motilaloswal.com
IKIO Lighting Registrar to the Offer
KFin Technologies Private Limited
ikiolighting.ipo@kfintech.com
IKIO Lighting Strengths
Poised to capture LED market's growth
With a demonstrated operational and financial track record, the company is strategically positioned to seize opportunities presented by the favourable market conditions in the LED lighting industry. These conditions are driven by government policies promoting energy conservation and environmental protection and the growing recognition and adoption of LED lighting over traditional incandescent lighting
Diverse product basket
As an ODM, the company specializes in offering products across four segments: LED lighting, refrigeration lights, ABS piping, and other related products
Wide array of customers
In the nine months ended December 31, 2022, as well as in fiscal 2022, 2021, and 2020, the company has supplied its products to around 900 domestic customers and 16 international customers
Established infrastructure
The company has developed expertise in producing many of the components used in the manufacturing processes through its in-house tool room capabilities, which include modern machines, molds, and tools
Strong financial performance
The company has achieved organic growth and has consistently demonstrated revenue and profitability growth over time
IKIO Lighting Risks
Dependent on few customers
The company relies heavily on a single customer, Signify Innovations India Limited (formerly Philips India), which contributes a significant portion of its revenue. Additionally, over 85% of the company's revenue is derived from its top twenty customers on a restated and proforma consolidated basis for 9MFY23 and FY22
Dependent on third party
The company depends on various third-party suppliers for its essential components, materials, and stock-in-trade. It also relies on them for customer support services, including product repairs and returns
Negative cash flows
The company has recorded negative cash flows in the nine months ending December 31, 2022, as well as in fiscal 2022, 2021 and 2020
Competitive environment
The company operates in a competitive environment and may face challenges in effectively competing due to various external factors beyond its control. These factors have the potential to significantly impact the business, results of operations, and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 257.0 crore, of 9,000,000 shares. It also consists of a fresh issue of Rs 350.0 crore.
The promoters of the company are Hardeep Singh and Surmeet Kaur.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 270.0 - 285.0.
The IPO application opens on Jun 06, 2023 and closes on Jun 08, 2023.
The minimum lot size for the IPO is 52. The maximum lot size for the IPO is 676.
For all category investors, the minimum application amount for this IPO is Rs. 14,820.0, the maximum value for this IPO is Rs 192,660.0.
This IPO will be allotted on Jun 13, 2023.
The refund will be credited to your account on Jun 14, 2023.
The allotted shares will be credited to your demat on Jun 15, 2023.
IKIO Lighting Ltd.’s shares listed on the stock exchanges on Jun 16, 2023.