IKIO Lighting IPO share allotment expected today. Here's how to check the status

The share allotment of IKIO Lighting is expected to be finalised on June 13. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar.

On the allotment date, investors get to know about the number of shares allotted to them against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.

Step 1: Visit the BSE Website

Step 2: Please select the issue name, that is the company's name in the drop down.
Step 3: Enter the application number or PAN number to check the allotment status.

The shares of IKIO Lighting will get listed on the exchanges on June 16, and if unlisted market trends are anything to go by, the company is expected to fetch a healthy premium. IKIO's shares are commanding a GMP of Rs 107, according to analysts.

Among all the IPOs made available to the public so far this year, IKIO Lighting witnessed a positive response to its public offer across investor categories.
The issue was subscribed 66.29 times on the last day of subscription, helped by overwhelming participation from institutional buyers. The Rs 607 crore offer received bids for 1,00,92,76,892 shares against 1,52,24,074 shares on offer, according to NSE data.

While the qualified institutional buyers (QIBs) category was subscribed 163.58 times, the portion for non-institutional investors received 63.35 times subscription, and the retail investor quota was subscribed 13.86 times.

The IPO had a fresh issue of up to Rs 350 crore and an offer of sale (OFS) of up to 90 lakh equity shares.

IKIO Lighting designs, develops, manufactures, and supplies products to customers who then further distribute these products under their brands.

IKIO Lighting had already garnered Rs 182 crore from 14 anchor investors. The company has allocated 63.84 lakh equity shares at Rs 285 per share to anchor investors.

The net proceeds from the public offer will be used to repay borrowings, invest in its subsidiary IKIO Solutions for setting up a new facility in Noida, and other general corporate purposes.

Motilal Oswal Investment Advisors acted as the sole book-running lead manager, and KFin Technologies was the registrar to the offer.