IKIO Lighting Ltd files for IPO to raise Rs. 350 crores.
According to the draft red herring prospectus (DRHP), the IPO includes a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 75 lakh equity shares by promoters Hardeep Singh and Surmeet Kaur .
IKIO Lighting Ltd, a company that makes LED lighting solutions, has filed preliminary papers with the capital markets regulator SEBI to raise money through an
IPO (IPO).
IKIO will utilise Rs 50 crores from the new issuance will be used to pay off debt. The Rs 236.68 crores will be used by the company's wholly-owned subsidiary, IKIO Solutions, to set up a new facility in Noida, Uttar Pradesh, and for general corporate purposes.
IKIO Lighting makes lighting solutions with light-emitting diodes (LEDs). Its main business is original design manufacturing (ODM), which means that it designs, develops, makes, and sells products for customers who then sell them under their own brands.
It has four factories. One is in the SIDCUL Haridwar industrial park in Uttarakhand, and the other three are in Noida, which is in the National Capital Region.
For the financial year 2022, IKIO Lighting's revenue from operations jumped by 55.47 percent, from Rs 213.45 crore to Rs 331.84 crore. During the same time period, however, profit after taxes grew by 75.37 percent, from Rs 28.81 crore to Rs 50.52 crore.
Motilal Oswal Investment Advisors is the only company that is in charge of running the book for this issue. Listing will be made on NSE and BSE.
