IKIO Technologies Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹285
Per ShareLot Size
52 Shares
Minimum Investment
₹14,820
Issue Size
₹593 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
IKIO Technologies Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Issue Type
Book Building
ISIN
INE0LOJ01019
About the Company
IKIO Lighting Limited is an Indian manufacturer of light emitting diode ("LED") lighting solutions. We are focused on sustainability and providing low energy LED products to help India meet its sustainability goals. The Company is primarily an original design manufacturer ("ODM") and design, develop, manufacture and supply products to customers who then further distribute these products under their own brands. It also works with its customers to develop, manufacture and supply products that are designed by its customers. Its products are categorised as (i) LED lighting; (ii) refrigeration lights; (iii) ABS (acrylonitrile butadiene styrene) piping; and (iv) other products. Its LED lighting offerings focus on the premium segment and include lighting, fittings, fixtures, accessories and components. It provides lighting solutions (lights, drivers and controls) to commercial refrigeration equipment suppliers under its refrigeration light segment. It also manufactures an alternative to polyvinyl chloride ("PVC") piping called ABS piping that is primarily used by its US customers for plumbing applications in the recreational vehicles ("RVs") that they fit out. In addition, it manufactures and assemble other products including fan regulators that are designed by its clients; light strips, moulding, and other components and spares. its equipment and systems are used in various industries and products, including residential, industrial and commercial lighting.
Industry Overview
The global electronics manufacturing services market is traditionally comprised of companies that manufacture electronic products, predominantly assembling components on printed circuit boards (PCBs) and box builds for major brands. Today, brands are seeing more value from EMS companies, leading to involvement beyond just manufacturing services to include product design and development, testing, and aftersales services such as repair, remanufacturing, marketing, and product lifecycle management. The EMS market was established more than five decades ago to execute manufacturing designs from government, defence, and research institutions. As the years progressed, the EMS market grew to support the demand that exceeded the manufacturing capacity of the brands. By the mid-1990s, the advantages of the EMS concept became extremely evident and major brands started outsourcing PCB assembly on a large scale. By the end of the 1990s and early 2000s, several brands having their own manufacturing facilities sold their assembly plants to the EMS players, aggressively striving for market share. A wave of partnerships followed as the more cash-rich EMS companies started buying the existing plants and the smaller EMS companies to consolidate their position in the global market.
Company History
The Company was incorporated as KIO Lighting Private Limited' under the Companies Act, 2013, pursuant to the certificate of incorporation issued by the Registrar of Companies, Delhi and Haryana at New Delhi ("RoC") on March 21, 2016. The name of the Company was subsequently changed to KIO Lighting Limited', upon conversion into a public company, pursuant to a board resolution dated January 3, 2022 and a shareholders' resolution dated January 31, 2022, and a fresh certificate of change of name was issued on April 18, 2022 by the RoC.
Products & Services
- The Company is an Indian manufacturer of light emitting diode ("LED") lighting solutions. It is focused on sustainability and providing low energy LED products to help India meet its sustainability goals.
Growth Strategy
- Expand into new product lines
- Expand its manufacturing capacities for its existing and new product lines
- Diversify its customer base and expand across geographies
- Continue focus on sustainability through ESG investments
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 21,280,701^ equity shares of face value of Rs. 10 each ("Equity Shares") of the company for cash at a price of Rs. 285 per equity share (including a share premium of Rs. 275 per equity share) ("Offer Price") aggregating to Rs. 606.50 crores^ (the "Offer") comprising a fresh issue of 12,280,701^ equity shares aggregating to Rs. 350.00 crores^ by the company (the "Fresh Issue") and an offer for sale of 9,000,000^ equity shares (the "Offered Shares") aggregating to Rs. 256.50 crores^ comprising offer for sale of 6,000,000^ equity shares by Hardeep Singh aggregating to Rs. 171.00 crores^ and 3,000,000^ equity shares by Surmeet Kaur aggregating to Rs. 85.50 crores^ (the "Selling Shareholders", and such equity shares offered by the selling shareholders, the "Offered Shares") (such offer for sale by the selling shareholders, the "Offer for Sale" and together with the fresh issue, "The Offer"). The offer constitutes 27.54 % of the post-offer paid-up equity share capital of the company. The face value of the equity share is Rs. 10 each and the offer price is 28.5 times the face value of the equity shares. ^Subject to finalisation of basis of allotment.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Poised to capture growth of LED market;
- Diverse product basket with focus on high-margin areas;
- Long-term relationships with leading industry customers;
- Strong focus on R&D;
- Established infrastructure with backward integration;
- Since September 12, 2022 the Company owns 100% of the equity shareholding of its Subsidiaries. As the Company did not own 100% of the equity shareholding of its Subsidiaries during Fiscal 2022, Fiscal 2021 and Fiscal 2020, the Restated Financial Information does not include financial information for its Subsidiaries prior to their acquisitions by the Company. Accordingly, its Restated Financial Information, as of, and for the years ended, March 31, 2022, 2021 and 2020, are not comparable to any future financial results that the company may prepare. In addition, because of their nature, its Proforma Consolidated Financial Information addresses a hypothetical situation and, therefore, does not represent its factual results of operations or financial condition.
- The company is dependent on, and derive a substantial portion of its revenue from, a single customer, Signify Innovations India Limited, erstwhile Philips India, and over 85% its revenue is derived from the company top twenty customers. Cancellation by its top customers or delay or reduction in their orders could have a material adverse effect on its business, results of operations and financial condition.
- The company do not receive firm and long-term volume purchase commitments from its customers. If the company customers choose not to renew their supply contracts with it or continue to place orders with the company, its business and results of operations will be adversely affected.
- Its business is dependent and will continue to depend on the company manufacturing facilities, and its subject to certain risks in the company manufacturing process such as the breakdown or failure of equipment, industrial accidents, injury to employees, severe weather conditions and natural disasters. In addition, any strikes, work stoppages or increased wage demands by its employees could also interfere with the company operations.
- The company is dependent on its R&D activities for its future success. If the company do not successfully develop new products in a timely and cost-effective manner, its business, results of operations and financial condition may be adversely affected.