IKIO Lighting makes strong debut on bourses, rises 40% on listing day

IKIO Lighting made a strong debut on the bourses on Friday. The stock got listed at Rs 392, a gain of 37.5 per cent. The stock ended the session at Rs 404.50, a gain of 41 per cent. Post-listing, the stock commands a market capitalisation of Rs 3,126 crore.  

The initial public offering of IKIO Lighting was subscribed to 66.3 times.  

IKIO had priced its IPO between Rs 270 to Rs 285 per share. The Rs 607 crore IPO was a combination of a fresh issue of Rs 350 crore and an offer for sale of Rs 257 crore.

IKIO manufactures light-emitting diode (“LED”) lighting solutions. The company is focused on providing low-energy LED products.

The company is primarily an original design manufacturer (“ODM”) and designs, develops, manufactures and supplies products to customers who further distribute them under their own brands. The company also work with their customers to develop, manufacture and supply products that its customers design.

 

The company manufactures LED lighting, refrigeration lights, and other products. Its LED lighting offerings focus on the premium segment and include lighting, fittings, fixtures, accessories and components.

HMA Agro IPO to open on June 19

Buffalo meat exporter HMA Agro Industries has set a price band of Rs. 555-585 per share for Rs. 480-crore IPO. The issue opens on June 19 and closes on June 23. Through the IPO, the company looks to raise Rs. 150 crore in fresh capital, which will be used for working capital requirements. 

The IPO also comprises a secondary share sale of Rs 330 crore by promoters. Agra-based HMA Agro is a three-star export house recognised by the government of India.