Noida-based IKIO Lighting's IPO to kick off on June 6; check details here
The initial share-sale of LED lighting solutions provider IKIO Lighting Ltd is set to open for public subscription on June 6.
The three-day initial public offering (IPO) will conclude on June 8. The bidding for anchor investors will open on June 5, according to the red herring prospectus (RHP).
The IPO consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by promoters -- Hardeep Singh and Surmeet Kaur.
Proceeds from the fresh issuance worth Rs 50 crores will be used for debt payment, Rs 212.31 crore will be used in the company's wholly-owned subsidiary, IKIO Solutions, to set up a new facility at Noida, Uttar Pradesh, and for general corporate purposes.
IKIO Lighting is a manufacturer of light-emitting diode (LED) lighting solutions. It is primarily an original design manufacturer (ODM) and designs, develops, manufactures,s and supplies products to customers who then further distribute these products under its