IKIO Lighting is a producer of sunshine emitting diode (LED) lighting options.

New Delhi:

Producer of LED lighting options IKIO Lighting Ltd has filed preliminary papers with capital markets regulator Sebi to lift funds by way of an preliminary public providing (IPO).

The IPO consists of a contemporary problem of fairness shares value as much as Rs 350 crore and an offer-for-sale (OFS) of as much as 75 lakh fairness shares by promoters — Hardeep Singh and Surmeet Kaur, in response to the draft pink herring prospectus (DRHP).

Proceeds from the contemporary issuance value Rs 50 crores can be used for debt cost, Rs 236.68 crore can be used within the firm’s wholly-owned subsidiary, IKIO Options, to set-up a brand new facility at Noida, Uttar Pradesh, and for basic company functions.

IKIO Lighting is a producer of sunshine emitting diode (LED) lighting options. It’s primarily an unique design producer (ODM) and designs, develops, manufactures and provides merchandise to prospects who then additional distribute these merchandise underneath their very own manufacturers.

It has 4 manufacturing amenities with one situated within the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida within the Nationwide Capital Area.

IKIO Lighting’s income from operations surged by 55.47 per cent to Rs 331.84 crore for the monetary yr 2022 from Rs 213.45 crore for the monetary yr 2021. Nonetheless, revenue after tax grew 75.37 per cent to Rs 50.52 crore from Rs 28.81 crore throughout the interval.

Motilal Oswal Funding Advisors is the only real ebook working lead managers to the difficulty. The fairness shares are proposed to be listed on the BSE and NSE. 

(Apart from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)

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