Ahead of its listing, IKIO Lighting has witnessed a decline in its grey market premium. Following the finalization of the allotment status, IKIO Lighting IPO GMP has taken a beating of nearly 20%. According to market sources, the stock is actively traded in the informal market but at a premium of nearly INR 90 per share, representing a cut of approximately 18% from the high of INR 110 per share observed couple of days ago.
Volumes in the unofficial market have dried in the recent days amid rangebound market conditions and no fresh triggers. This has impacted the premiums of all IPOs including IKIO Lighting public offer.
IKIO Lighting IPO: Strong Subscription
IKIO Lighting IPO, amounting to INR 607 crore, was open for subscription from 6 June to 8 June. The company offered its shares in the price range of INR 270-285 per share, with a lot size of 52 shares. The IPO garnered substantial interest from investors, with an overall subscription of 66.3 times during the three-day bidding process.
The portion reserved for qualified institutional bidders (QIB) was oversubscribed 163.58 times, while the non-institutional investors (NII) category also witnessed a strong subscription of 63.35 times. On the other hand, retail investors’ quota was oversubscribed by 13.86 times, as per data collected by IPO Central from stock exchanges.
IKIO Lighting IPO GMP and Listing Estimate
Despite the recent reduction, IKIO Lighting GMP is indicating to gains to successful investors. Going by the latest grey market quotes, IKIO Lighting IPO listing price is likely to be around INR 375 per equity share. This indicates to a listing gain of nearly 31.5% to investors who have got allotment.
Here is the movement of IKIO Lighting IPO GMP in the run up to the offer.
|Date||Day-wise IPO GMP||Kostak||Subject to Sauda|
|14 June 2023||90||–||2,100|
|13 June 2023||100||–||2,100|
|12 June 2023||105||600||2,200|
|9 June 2023||105||600||2,200|
|8 June 2023||110||700||2,300|
|7 June 2023||100||600||2,500|
|6 June 2023||88||500||2,700|
|5 June 2023||85||500||2,700|
|2 June 2023||55||500||–|
Established in 2016, Noida-based IKIO Lighting specializes in the manufacturing of light-emitting diode (LED) lighting solutions. The company primarily operates as an original design manufacturer (ODM), with its LED lighting offerings targeting the premium segment.