IKIO Lighting is the leading player in the Indian smart lighting market, with a market share of over 20%.
IKIO Lighting, a leading provider of smart lighting solutions, listed on the BSE on Friday, June 16, 2023. The company’s shares opened at ₹100 per share, a 10% premium over the issue price of ₹91 per share.
The IPO was subscribed 100 times, with retail investors subscribing 120 times. The issue received strong demand from institutional investors, with HNIs subscribing 10 times and QIBs subscribing 9 times.
The company raised ₹1,000 crore through the IPO, which will be used to fund its growth plans. IKIO Lighting plans to use the proceeds to expand its manufacturing capacity, invest in research and development, and expand its distribution network.
The company is well-positioned to benefit from the growing demand for smart lighting solutions. The global smart lighting market is expected to grow at a CAGR of 20% from 2023 to 2028. IKIO Lighting is the leading player in the Indian smart lighting market, with a market share of over 20%.
The company has a strong brand and a wide distribution network. It has partnered with leading retailers such as Flipkart, Amazon, and Croma. IKIO Lighting also exports its products to over 20 countries.
The company’s strong fundamentals and growth prospects make it a good investment for long-term investors. The stock is expected to perform well in the coming years.
GMP and Stock Market Experts Signal Fancy Debut for Shares
The grey market premium (GMP) for IKIO Lighting shares has been rising steadily in the days leading up to the listing. On Thursday, the GMP was at ₹10 per share, indicating that the shares could open at a premium of 10% over the issue price.
Stock market experts are also bullish on the IPO. They believe that the shares could list at a premium of 10-15% over the issue price. They are positive about the company’s growth prospects and believe that it is well-positioned to benefit from the growing demand for smart lighting solutions.
The IPO is a good opportunity for investors to participate in the growth of the smart lighting market. The shares are likely to perform well in the coming days and weeks.
