Ikio Lighting files drhp with SEBI to raise funds
Ikio Lighting Ltd has filed draft papers with request controller the Securities Exchange Board of India (SEBI) to raise finances through an original public immolation (IPO). The IPO consists of a fresh issue of Rs 350 crore and an offer for trade (OFS) of over to 7.50 million shares by shareholders and promoters.
The OFS comprises up to six million shares by Hardeep Singh and over to 1.5 million shares by Surmeet Kaur. Singh holds a 60 percent stake in the establishment and Kaur the remaining 40 percent. The proceeds from the fresh issue will be used to repay Rs 50 crore in debt. As of August 2022, the establishment’s debt totaled Rs70.91 crore.
The establishment will invest around Rs236.68 crore in its arm Ikio results to set up an installation in Noida for electronic manufacturing. The establishment has four installations with one in the SIDCUL Haridwar artificial demesne in Uttarakhand and three in Noida. As of March 2022, it had a periodic installed capacity to manufacture 20.31 million LED light pieces.
Motilal Oswal Investment counsels Ltd is the book runner for the issue. The establishment is a manufacturer of light- emitting diode (LED) lighting results. Primarily an original design manufacturer (ODM), it designs, develops, manufactures and supplies products to guests who further distribute these products under their own brands.
As an ODM, the establishment offers products in four parts — LED lighting, refrigeration lights, ABS pipeline and other products. For FY22, profit from operations stood at Rs219.90 crore against Rs159.66 crore a time ago. Net profit for the period stood at Rs 28 crore against Rs20.58 crore in the former time.
About Ikio Lighting Ltd
IKIO is a leading manufacturer of LED Lighting, with operations in the United States, India, China and UAE. We deliver the right solutions and value for your LED Lighting requirements because of our innovative approach and vertically integrated infrastructure.
With a wide range of sustainable products, we have developed a plethora of lighting solutions for Commercial, Industrial and Multi-family Residential and Hospitality applications. Our manufacturing setup incorporates vertical integration and is capable of churning out new generation LED lighting products consistently without compromising quality.
Our 6 state-of-the-art manufacturing plants have a combined manufacturing capacity of 10 million fixtures annually. With an in-process rejection rate of less than 0.68%, we have demonstrated that we truly believe in ‘quality over everything’ philosophy. The ISO 9001, ISO 14000 and ISO 18001 quality certifications, further establish this fact.
History
Our journey began in 1987 when we started manufacturing rotary switches and potentiometers under the brand of Fine technologies. In just 30 years, we have grown from being a small electronics and component manufacturing operation to a global manufacturing operation.
With this immense know-how, we forayed into the manufacture and marketing of LED lighting systems in 2005. With our robust expansion, we are not just breaking our year over year records in the Asian and Middle-eastern markets, but also increasing our presence rapidly in the United States. With multiple projects successfully delivered in the USA, we have positioned ourselves as a leading brand, best in its class for providing customized solutions in LED Lighting.
Today, here at IKIO, we are spearheading the revolution of LED lighting innovation through our consistent focus on R&D and operational optimization. This endeavor has resulted in the development of sustainable products which are changing the landscape of the lighting industry and energy conservation.