IPO
IKIO Lighting's IPO collects Rs.182-Cr from 16 anchor investors
Noida-based LED lighting solution provider IKIO Lighting Ltd has mobilised INR 182 crore from anchor investors ahead of its initial share. The company has allotted 63.84 lakh equity shares to 16 funds at INR 285 apiece, aggregating to INR 182 crore. Societe Generale, Citigroup Global Markets Mauritius, Goldman Sachs, Malabar India Fund, Quant Mutual Fund (MF), HDFC MF and ICICI Prudential MF are among the anchor investors. The IPO of the firm consists of a fresh issue of equity shares for INR 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity stocks by promoters Hardeep Singh and Surmeet Kaur. Motilal Oswal Investment Advisors is the sole book-running lead manager to the issue. Out of the proceeds from the issue, INR 50 crore will be used for debt payment and INR 212.31 crore will be invested in the company's wholly-owned subsidiary IKIO Solutions to set up a new facility at Noida.
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