Price Band of Rs 270 – Rs 285 per equity share bearing face value of Rs 10 each (“Equity Shares”).
· Bid/Offer Opening Date – Tuesday, June 06, 2023 and Bid/Offer Closing Date – Thursday, June 08, 2023.
· Minimum Bid Lot is 52 Equity Shares and in multiples of 52 Equity Shares thereafter.
· The Floor Price is 27 times the face value of the Equity Share and the Cap Price is 28.5 times the face value of the Equity Share.
Ahmedabad, June 5, 2023: IKIO Lighting Limited, a manufacturer of Light Emitting Diode (LED) Lighting in India, has fixed the price band at Rs 270 to Rs 285 per Equity Share (of face value Rs 10 each) for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Tuesday, June 06, 2023, for subscription and closes on Thursday, June 08, 2023. Investors can bid for a minimum of 52 Equity Shares and in multiples of 52 Equity Shares thereafter.
The Offer with a face value of Rs 10 per equity share consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 9,000,000 equity shares by existing shareholders.
The Company is primarily an Original Design Manufacturer (ODM) and designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands. They also work with their customers to develop, manufacture and supply products that are designed by their customers. Products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and other products. Equipment and systems produced by the Company are used in various industries, including residential, industrial and commercial lighting.IKIO Lighting Limited’s revenue from operations on a proforma consolidated basis grew 55.47% from Rs 213.45 crore in Fiscal 2021 to Rs 331.84 crore in Fiscal 2022 and profit after tax has increased 75.37% from Rs 28.81 crore in Fiscal 2021 to Rs 50.52 crore in Fiscal 2022. The Company, on a Proforma Consolidated basis for Fiscal 2022, has a return on net worth (RoNW) of 46.40% as against some of its listed peers on a consolidated basis such as Dixon Technologies (19.08%), Amber Enterprises (6.30%), Syrma SGS Technology (10.29%) and Elin Electronics (12.93%).
For the nine months ended December 31, 2022, on a proforma consolidated basis, the company’s revenue from operations stood at Rs 328.63 crore and profit after tax stood at Rs 51.35 crore.