IKIO Lighting's IPO succeeds on Day 1 on HNI with a strong retail push

At day's end, the issue had been subscribed 1.59 times, with 1.69 times of that amount coming from the retail investor category.

The non-institutional investors portion received 3.06 times as much interest. The non-institutional investors portion received 3.06 times as much interest.

In contrast, just 30% of the qualified institutional buyers (QIBs) group was subscribed.

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The offering, which closes on June 8, consists of an offer for sale (OFS) of up to 90 lakh shares and a new equity offering of up to Rs 350 crore.

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The company has set a price band of Rs 270-285 per equity share and investors can bid for a minimum of 52 shares in one lot and multiples thereafter.

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