Shillong, June 16: Following a successful initial public offering (IPO), IKIO Lighting made an impressive entry on Dalal Street on Friday, capturing the attention of investors.
The company’s shares listed at Rs 391 apiece on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), showcasing a remarkable premium of over 37 percent compared to the issue price of Rs 285. This highly favorable market listing aligns with the expectations of industry experts.
Analysts had exhibited confidence in a strong listing, considering the company’s shares had been commanding a significant premium in the grey market in recent days. In fact, on Thursday, the stock had commanded a Grey Market Premium (GMP) of Rs 95-100.
However, IKIO Lighting surpassed even these optimistic projections with its exceptional performance on its listing day. By 10:45 am, the stock was trading at Rs 419.70, demonstrating an impressive 47.61 percent premium over its issue price. This remarkable debut positions it as one of the standout stock market launches of the year thus far.
IKIO’s IPO garnered a robust response from investors, driven by positive reviews from analysts who had recommended subscribing to the issue for both short-term listing gains and long-term benefits. The analysts cited the company’s strong valuations, resilient balance sheet, and robust business model as key factors contributing to its attractiveness.
The remarkable stock market debut of IKIO Lighting signifies the confidence and enthusiasm surrounding the company and its future prospects. Investors will continue to monitor its performance closely, anticipating sustained growth and profitability in the coming days.