IKIO Lighting IPO: Company's coffers filled on third day, offer subscribed 66 times on last day

Investors subscribed fiercely to the Initial Public Offering (IPO) of IKIO Lighting, a company in the LED lighting segment. On June 8, the last day of this IPO, which ran from June 6 to 8, investors subscribed it 66.30 times.
Let us tell you that bids were received for 1,00,92,88,696 shares in three days while the company had kept only 1,52,24,074 shares under the IPO offer. Investors have registered their strong response to this IPO which lasted for three days.
According to BSE data till 7 pm yesterday, IKIO Lighting's IPO has shown maximum interest from Non-Institutional Investors (NII). Apart from NII, Qualified Institutional Buyers and Retail Investors have also participated in large numbers in this IPO.
Let us tell you that Qualified Institutional Buyers (QIB) subscribed to the IPO 163.58 times, Non-Institutional Investors (NII) 63.35 times, and Retail Individual Investors (RII) subscribed to the IPO 13.86 times.
On the second day of the IPO i.e. on 7th June, Non-Institutional Investors (NII) started showing their interest in the IPO. Earlier, the company had raised Rs 181.95 crore through anchor investors.
NII subscribed 6.92 times to the IPO, retail investors subscribed 3.46 times on the second day, and qualified institutional buyers subscribed 33 percent of their portion.
Promoters Hardeep Singh and Surmeet Kaur of LED lighting company IKIO Lighting sold 90 lakh shares of the face value of Rs 10 each under an offer for sale. The price band for this was fixed between Rs 270-285 and 1 lot of 52 scrips has been fixed.
The company had reserved 50 percent of this IPO for Qualified Institutional Investors (QIB), 15 percent for Non-Institutional Investors (NII), and 35 percent for retail investors.
After the excellent response received by the company in the IPO, its shares will be finalized by June 13 and will be listed on both market indices on June 16.