IKIO Lighting IPO
IKIO Lighting IPO — date, price band, lot size & details 2023
IKIO Lighting listed on 16 Jun 2023 at ₹392.5, 37.7% above the ₹285 issue price.
IKIO Lighting is an original design manufacturer of LED lighting, refrigeration lights and ABS piping, supplying products that customers sell under their own brands. Its proforma total income was Rs 334.00 crore in FY2022.
Stock price
IKIO Lighting is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 06 Jun 2023
- Close 08 Jun 2023
- Allotment 13 Jun 2023
- Refund/credit 14 Jun 2023
- Listing 16 Jun 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 6 to 8 Jun, 2023 |
|---|---|
| Price Band | ₹270 – ₹285 |
| Face Value | ₹10 |
| Lot Size | 52 Shares |
| Issue Size | ₹606.5 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,820 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 52 shares at the ₹285 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 52 | ₹14,820 |
| Retail (max) | 13 | 676 | ₹1,92,660 |
| S-HNI (min) | 14 | 728 | ₹2,07,480 |
| S-HNI (max) | 67 | 3,484 | ₹9,92,940 |
| B-HNI (min) | 68 | 3,536 | ₹10,07,760 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Proforma total income rose from Rs 221.83 crore in FY2020 to Rs 334.00 crore in FY2022.
- 02Proforma profit after tax rose from Rs 21.41 crore in FY2020 to Rs 50.52 crore in FY2022.
- 03Profit after tax was Rs 51.35 crore in the nine months to 31 December 2022, above the full FY2022 figure.
- 04The source puts the PAT margin at 15.12% and the EBITDA margin at 23.30%.
- 05Rs 350.00 crore of the Rs 606.5 crore issue was fresh capital for a new plant and debt repayment.
Risks · 5
- 01The pre-issue P/E was 36.68 at the upper band of Rs 285, based on proforma EPS of Rs 7.77.
- 02Total borrowing rose from Rs 106.56 crore on 31 March 2022 to Rs 136.33 crore on 31 December 2022.
- 03As an ODM, it depends on brand customers who can move orders elsewhere, and its 4 plants sit in just 2 regions.
- 04ABS piping depends on US recreational vehicle demand, and exports add currency risk. Debt to equity was 1.03 as per the source.
- 05Rs 256.50 crore of the issue was offer for sale by the promoters, and their holding fell from 100% to 72.46%.
Three years of numbers
All figures in ₹ crore, as reported in the IKIO Lighting offer document.
| Metric | 31 Dec 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 335.50 | 264.87 | 174.45 | 144.83 |
| Total Income | 332.79 | 334.00 | 214.57 | 221.83 |
| Profit After Tax | 51.35 | 50.52 | 28.81 | 21.41 |
| NET Worth | 140.83 | 108.87 | 62.86 | 35.90 |
| Total Borrowing | 136.33 | 106.56 | 69.36 | 46.86 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the IKIO Lighting RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
IKIO Lighting IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹7.77 | ₹8.86 |
| P/E Ratio (x) | 36.68 | 32.17 |
| Market Cap at Offer Price (₹ Cr) | ₹1,883.49 | ₹1,651.78 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹285 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹329.27 Cr of the issue is earmarked to named objects.
About the company
It is mainly an original design manufacturer that designs, makes and supplies products which customers sell under their own brands. Its products are LED lighting for the premium segment, refrigeration lights for commercial refrigeration makers, ABS piping used mainly by US customers in recreational vehicles, and other products such as fan regulators.
It has four manufacturing facilities, one in the SIDCUL Haridwar industrial park in Uttarakhand and three in the National Capital Region. It acquired four group companies as subsidiaries from 12 September 2022, so the RHP gives proforma consolidated figures for earlier years.
The IPO was Rs 606.5 crore, with Rs 350.00 crore of fresh issue and Rs 256.50 crore of offer for sale by the two promoters. Rs 212.31 crore was planned for a new facility at Noida through a subsidiary and Rs 50.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
IKIO Lighting IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Motilal Oswal Investment Advisors
58 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of IKIO Lighting?
The current Grey Market Premium is ₹90, or 32% over the issue price.
What is the IKIO Lighting IPO price band?
₹270 to ₹285, on a face value of ₹10.
When is the allotment?
The basis of allotment is 13 June 2023, with listing on 16 June 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
