IKIO Lighting IPO: What GMP reflects after closure of subscription? | Mint – Mint

IKIO Lighting IPO: The initial public offering (IPO) of IKIO Lighting Ltd opened for subscription on 6th June 2032 and it remained open till 8th June 2023. So, the three days subscription of the public issue closed on Thursday. As per the IKIO Lighting IPO subscription status after closure of bidding, the public offer has been subscribed whopping 67.75 times. After strong response by investors, grey market also went bullish on the IPO. According to market observers, shares of IKIO Lighting Ltd are available at a premium of 113 in grey market today.

IKIO Lighting IPO GMP today

Market observers said that IKIO Lighting IPO grey market premium (GMP) today is 113, which is 7 lower from the IKIO Lighting IPO GMP of 120 on Thursday. Market observers maintained that the dip in grey market mood towards the IKIO Lighting IPO can be attributed to the negative close on Thursday after weak global sentiments. However, they went on to add that secondary market is witnessing profit booking after rallying for four straight sessions. So, grey market sentiment is expected to remain bullish as market sentiment is still sideways to positive. They said that strong response by investors across all categories would continue to provide support to the conviction of unlisted market participants.

What this GMP mean?

Market observers said that IKIO Lighting IPO GMP today is 113, which means grey market is expecting that IKIO Lighting IPO listing price would be around 398, which is around 40 per cent higher from IKIO Lighting IPO price band of 270 to 285 per equity share. Market observers said that grey market is trying to reflect that lucky allottees may expect around 40 per cent listing premium on KIO Lighting IPO listing date, which is most likely on 16th June 2023.
However, stock market experts maintained that grey market is not an ideal indicator about success or failure of any public offer. They said that GMP is non-regulated and it is completely speculative. Most importantly, it has nothing to do with the financials of the company, which is offering its share in the primary market. So, its better to stick with the basics and scan balance sheet of the company instead of following grey market premium of the IPO, experts said.

IKIO Lighting IPO subscription status

After three days of bidding, the public issue got subscribed 67.75 times whereas its retail portion got subscribed 14.31 time. The public issue got subscribed 65.38 time in NII category while its QIB portion got subscribed 163.06 times.
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