IKIO Lightning IPO: After the vigorous listing of the shares of IKIO Lightning in the market today, the idea is going on in the minds of investors whether to hold this stock or buy more. When the IPO of IKIO Lighting came, its issue price was Rs 285. In comparison, this stock rose by 38 per cent to 392 and then to 404. Investors have gained Rs 107.50 per share in this listing.
What do experts think?
Analysts believe that investors should hold this stock instead of selling it. Because this company has attractive business opportunity and its financial performance is also very good. He says that this stock has huge growth potential and should be retained for medium to long term. The stop loss of this stock will be 10% below its listing price. IKIO Lighting came out with an IPO of Rs 607 crore with fresh issue of shares worth Rs 350 crore and received an overwhelming response from investors. This IPO was flooded 67 times.
Retail investors have gained Rs 5,590 per lot while small HNEs have gained Rs 78,260 per lot. Big HNAE also gained Rs 78,260 per lot.
IKIO Lighting is one of the most successful IPOs of this year. It also included an offer for sale of 90 lakh shares. The IPO was subscribed 163 times by qualified institutional buyers, 63.35 times by non-institutional investors and 13.86 times by retail investors.
IKIO Lighting Company is engaged in designing, developing, manufacturing and supplying LED products to its clients. The company’s income from operations increased by 55 percent to Rs.331 crore while profit after tax increased by 75 percent to Rs.50.5 crore.
Prashant Tapase of Mehta Equity says that after the tremendous listing of IKIO Lighting, investors can consider partial profit booking in it. While risk takers can hold it for medium to long term. IKIO Lighting is expected to have a reasonable PE as compared to the average PE of the sector. A day before the listing of IKIO Lighting, a gray market premium of Rs 100 was running in the market.
