IKIO Lighting stock listed on stock exchanges with a stellar premium, offering decent returns to primary market investors. IKIO Lighting IPO received positive ratings from many market experts. The stock listed today at 392.5 per share, offering a premium of 37.7 percent to its issue price during IPO. The stock continued with strong performance and has touched intraday high of Rs 427 and the opening price has remained the day’s low till 11 am. After a long time, an IPO has listed in the Indian markets with a strong premium.

IKIO Lighting IPO was oversubscribed 66 times in retail investor’s segment while 166 times oversubscription was registered for QIP investors. The company offered 1.52 crore shares during IPO and bids were received for 101 crore shares. Market experts were expecting a strong listing for the company and today investors have been rewarded.

Noida-based LED lighting solutions provider has showcased strong performance on its debut date. The company has an impressive business model and the LED lighting segment has strong growth potential. As per the company IPO documents, IKIO Lighting will utilize Rs 212 crore for setting-up a new facility at Noida. The company will also reduce its debt by Rs 50 crore.

During 9M FY23, the company reported consolidated topline of Rs 328 crore, while EBITDA and PAT margin of 22.3 percent and 15.6 percent, respectively. The company has maintained strong margins across the segments it operates in.

The LED Lighting market is expected to register CAGR of nearly 12 percent over the next four years. Due to its energy saving abilities, LED is now a preferred option for commercial and domestic lighting.

With a strong debut on the stock markets, we can expect IKIO Lighting to have better analyst ratings in the coming weeks. The volume in today’s trade was strong and weighted average price was Rs 406.