IKIO Lighting had a dream debut on the Indian stock market, with a strong listing gain of over 37 percent.

The company's share price opened at ₹392.50 per share on the NSE and ₹391 apiece on the BSE.

It further surged and reached an intraday high of ₹423.45 per share on the NSE.

Despite its dream debut, stock market bulls showed continued interest in IKIO Lighting shares.

Market experts believe that the company's business model will strengthen its balance sheet.

Anubhuti Mishra, Equity Research Analyst at Swastika Investmart, recommends holding IKIO Lighting shares for a longer period due to positive factors such as research and development focus and consistent financial performance.

Vaibhav Kaushik, Research Analyst at GCL Broking, advises holding the stock with a target price of ₹500 per share in the next quarter.

The IKIO Lighting IPO received a substantial oversubscription, with a subscription of 67.75 times the offered shares.

The retail portion of the IPO was subscribed 14.31 times, while the NII and QIB portions saw remarkable subscriptions of 65.38 times and 163.06 times, respectively.

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