IKIO Lighting IPO Listing: Shares debut on Dalal Street at a 37% premium

The category for Qualified Institutional Buyers (QIBs) got subscribed 163.7 times, the Retail Individual Investors (RIIs) portion received 13.9 times subscription and non-institutional investors 63.4 times.

Motilal Oswal Investment and Advisors acted as the book running lead manager to the issue, while Kfin Technologies was the registrar to the issue.

In an interaction with CNBC-TV18, IKIO Lighting's Sanjeet Singh said the company sees strong growth in the new business verticals. "We started another business line in the export market primarily for the US market, that is the products that we are manufacturing for the RV industry, that is the recreational vehicle industry. We have added a whole host of products in that category, indoor, outdoor, lighting, then we have solar panels, charge controllers, ABS pipes and fittings, like you mentioned about the refrigeration lighting."

A day before the issue opened for subscription, IKIO Lighting mobilised Rs 181.95 crore by allocation of 63.84 lakh equity shares to 16 anchor investors at a price of Rs 285 per share, the upper price band, the company said in a statement.

The net proceeds from the public offer will be used to repay borrowings, investment in its subsidiary IKIO Solutions for setting up a new facility in Noida and other general corporate purposes.