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IKIO Lighting IPO: Institutional, non-institutional and retail investors flocked to invest in the public offer on the second day of IKIO Lighting’s IPO opening. Due to the tremendous response the IPO is getting from the investors, the IPO has been subscribed 6.83 times on the second day, which was subscribed 1.55 times on the first day.
You can invest by June 8
The reserve quota for all categories in the IPO has been completely filled. But the best response is coming from non-institutional investors (NII). The category of non-institutional investors has been subscribed 15.99 times. 32,94,445 shares were reserved for this category of investors. But within two days, applications for 5,26,87,336 shares have come. 76,87,037 shares were reserved for retail investors and applications for more than 4,55,38,688 shares have been received and this category has been subscribed 5.92 times. While the reserve quota for institutional investors is filled 1.37 times. Investors can apply in IKIO Lighting’s IPO till Thursday 8th June.
Price band is Rs 270-285
IKIO Lighting is going to raise Rs 606.5 crore through IPO. Out of which 350 crore rupees are being sold through fresh issue and 90 lakh shares are being sold in IPO through Offer For Sale. The company has fixed the price band of IPO at Rs 270-285 per share. IKIO Lighting said that the company has raised Rs 182 crore from anchor investors. Around 16 funds have invested in the IPO. IKIO Lighting is proposed to be listed on BSE and NSE.
37% premium in gray market
IKIO Lighting’s IPO is trading at 37 per cent premium in the gray market. GMP is trading Rs 105 above the issue price. That is, IKIO Lighting’s IPO listing is expected to be at Rs.390.
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