IKIO Lighting IPO: Issue subscribed 67 times on last day of bidding process
IKIO Lighting's Rs 607 crore initial public offering (IPO) has been oversubscribed 11.46 times on strong demand from non-institutional investors. The company has set a price band of Rs 270-285 per equity share with a minimum bid of 52 shares. The issue comprises a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The grey market premium of the company has been on an upward trend and its shares are commanding a premium of Rs 118 in the unlisted market.
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