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The preliminary public providing of LED lighting answer supplier IKIO Lighting Ltd. opened on June 6.
The supply was subscribed 4% by 10:09 a.m., with non-institutional buyers bidding for 4% of the basket reserved for them and retail portion being subscribed 6%. No bids had been positioned within the institutional bids up to now
The third-party lighting answer supplier counts family names like Phillips amongst its clientele. The Noida-based firm is seeking to increase Rs 606.5 crore from its maiden share sale. The supply features a recent situation of Rs 350 crore, and a suggestion for the sale of round 90 lakh shares.
The recent situation dimension is 15.90% and promoters are collectively divesting 11.65% of their holdings. Publish-offer, the promoter’s shareholding can be 72.5%.
IKIO Lighting is eyeing a market worth of Rs 2,202.5 crore on the higher finish of the worth band of Rs 270–285 apiece.
IKIO Lighting intends to make use of the online proceeds from the recent situation for reimbursement and prepayment of borrowings to the tune of Rs 50 crore. It can make investments Rs 212.3 crore in its wholly owned subsidiary IKIO Options Pvt.
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