IKIO Lighting IPO GMP today, Share Price, Status, listing date, time, subscription, listing price & more
IKIO Lighting IPO: The much-anticipated IPO listing of IKIO Lighting took place today, and it witnessed a dream debut at the Indian stock market on Friday. With an impressive listing gain, the company’s share price opened at ₹392.50 per share on the NSE and ₹391 apiece on the BSE, delivering over 37 percent returns to its fortunate allottees.
The stock’s performance didn’t stop there as it continued to surge, reaching an intraday high of ₹423.45 per share on the NSE. Market experts believe that IKIO Lighting’s strong listing and subsequent increase in share price demonstrate the remarkable interest and confidence of stock market bulls, despite its dream debut on Dalal Street. They further predict that the company’s robust business model will continue to strengthen its balance sheet, making it an attractive investment option.
A Positive Outlook and Growth Potential
Anubhuti Mishra, Equity Research Analyst at Swastika Investmart, expressed her positive view on the listing, stating, “IKIO Lighting Ltd. made a strong debut in the market at a listing price of Rs. 392. The company’s issue price at the upper band was ₹285, resulting in a gain of around 37 percent for investors, which exceeds expectations. Considering its strong focus on research and development, backward integration, well-established client relationships, and consistent financial performance, we recommend investors to hold this share for a longer period.”
This sentiment is echoed by Vaibhav Kaushik, Research Analyst at GCL Broking, who advises IKIO Lighting shareholders to hold onto their shares for more gains. He highlights the company’s sustained business model and production of niche LED lighting products, which is expected to boost its order book and potentially reach a target of ₹500 per share in the next quarter, with a trailing stop loss at ₹370 apiece levels.
Investor Enthusiasm and Subscription Figures
The IKIO Lighting IPO garnered significant attention from investors, resulting in an impressive oversubscription. The public issue, which opened for bidding on June 6th, 2023, and closed on June 8th, 2023, received a subscription of 67.75 times the offered shares. The retail portion alone was subscribed 14.31 times, demonstrating the strong interest among individual investors. The Non-Institutional Investor (NII) portion of the IPO saw a subscription of 65.38 times, while the Qualified Institutional Buyer (QIB) portion experienced a remarkable subscription of 163.06 times.
Conclusion
The IKIO Lighting IPO made a remarkable debut on the Indian stock market, providing a substantial listing gain to its lucky allottees. With a strong listing premium of over 37 percent and an upward surge in share price after listing, the company has captured the attention of stock market bulls.
The positive outlook on IKIO Lighting’s business model, along with its focus on research and development and production of niche LED lighting products, instills confidence in market experts and analysts. Investors are advised to consider holding onto their shares, with the potential of reaching a target price of ₹500 per share in the next quarter. Overall, IKIO Lighting has set a promising foundation for future growth and success in the market.
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FAQs
When did the IKIO Lighting IPO list on the stock market?
The IKIO Lighting IPO listed on the stock market on 6th june.
What was the listing gain for IKIO Lighting shares?
IKIO Lighting shares experienced a listing gain of over 37 percent.
What is the target price for IKIO Lighting shares in the next quarter?
Market analysts predict a target price of ₹500 per share for IKIO Lighting in the next quarter.
How was the subscription response for the IKIO Lighting IPO?
The IKIO Lighting IPO received an overwhelming subscription of 67.75 times the offered shares, demonstrating strong investor interest.
Should investors hold onto their IKIO Lighting shares?
Market experts recommend holding onto IKIO Lighting shares for potential gains in the medium to long term, considering the company’s sustained business model and growth prospects.