IKIO Lights up

There is a new listing on the bourses today and that too good one – IKIO Lighting. As against the IPO price of Rs.285, the stock got listed at Rs.391 on the BSE and at Rs.392.50 on the NSE.

The premium listing is not surprising as the IPO had evoked a strong response with the issue getting subscribed 67.75 times with QIBs portion subscribing 163.06 times, HNIs 65.38 times and Retail Investors by 14.31 times.

In our IPO Analysis section, we had concluded - Company’s fundamentals are strong, valuation inexpensive in relation to peers and planned capex provides a healthy outlook, over the long term. All this makes the IPO an ‘apply’ for both listing gains as well as for long-term holding.