Shares of IKIO Lighting made a stellar debut on the bourses on Friday as they listed at Rs 392.5 on NSE, a premium of 37.71% or Rs 107.5 over the issue price of Rs 285.

The stock got listed at Rs 391 on BSE, up 37.19%, as against the offer price. Ahead of the listing, the shares were commanding a premium of around Rs 99 in the unlisted market.

The net proceeds from the public offer will be used to repay borrowings, invest in its subsidiary IKIO Solutions for setting up a new facility in Noida and other general corporate purposes.

The Rs 607 crore IPO, with a fresh issue of Rs 350 crore and an offer of sale (OFS) of 90 lakh equity shares, had received tremendous a response from investors, making it one of the most successful primary market issues of the year.

The issue was subscribed by a whopping 67 times. While the qualified institutional buyers (QIBs) category was subscribed 163.58 times, the portion for non-institutional investors received 63.35 times bids and the retail investors’ quota got subscribed by 13.86 times.

Motilal Oswal Investment Advisors acted as the sole book-running lead manager and KFin Technologies was the registrar to the offer.

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