IKIO Lighting shares made a good start on the BSE and NSE, providing allottees with a 37% listing gain.
The IKIO Lighting IPO was listed today, and the public offering made a successful launch on the Indian stock exchange on Friday. IKIO Lighting’s share price was listed on the NSE at 392.50 a share, while it opened on the BSE at 391, giving a more than 37% listing gain to its lucky allottees. However, stock market bulls continued to buy the company as it rose following a successful listing and reached an intraday high of 423.45 per share on the NSE.
According to stock market analysts, IKIO Lighting shares have listed at a strong over 37% premium, and IKIO Lighting share price has risen to the tune of 7.50% following the fantastic listing, indicating stock market bulls’ purchasing enthusiasm despite the dream debut on Dalal Street. They stated that the company’s business strategy is projected to continue strengthening the company’s financial sheet and that allottees may hold the counter for a 500 goal in the following quarter.
Anubhuti Mishra, Equity Research Analyst at Swastika Investment, commented on the IKIO Lighting share offering, saying, “IKIO Lighting Ltd. had a great start in the market at a listing price of Rs. 392. The company’s issue price in the top band was 285, thus the gain for investors is roughly 37%, which is higher than predicted. Given its strong focus on R&D and backward integration, well-established client relationships, and steady financial success, we remain optimistic and recommend that investors retain this share for a longer length of time.”
IKIO Lighting share price target
Vaibhav Kaushik, Research Analyst at GCL Broking, advised IKIO Lighting shareholders to retain the stock for future gains, saying, “IKIO Lighting Ltd has a sustained business model that is expected to continue providing strength to its balance sheet in the medium to long term.” They manufacture a specialized product in the LED light market, which is projected to increase the company’s order book. So, lucky allottees can hold the stock for a 500-per-share target in the next quarter while keeping a tracking stop loss around 370 per share levels.”
The IKIO Lighting IPO debuted today on the BSE and NSE, giving a more than 37% listing gain to allottees against the issue price of $285 per share. The public offering began on June 6, 2023, and ended on June 8, 2023. The public issue was subscribed to 67.75 times in three days of bidding, while the retail part was subscribed to 14.31 times. The NII component of the IPO received 65.38 subscriptions, while the QIB portion received 163.06 subscriptions.
Disclaimer: Individual analysts’ opinions and suggestions are expressed in this article. These are not the opinions of Mint. Before making any financial decisions, we recommend that investors consult with competent specialists.
