Key Points
The initial public offer (IPO) of IKIO Lighting, an integrated player providing original design manufacture services in the LED lighting segment, opens for subscription on Tuesday, June 6..
Ahead of the issue opening, IKIO Lighting garnered Rs 182 crore from 14 anchor investors..
The company is also highly dependent on a single product category - LED lighting - which contributes nearly 87% of total revenue.. Further, IKIO is highly dependent on imports of raw materials from China, Singapore, Hong Kong and Taiwan..
The company's revenue from operations on a proforma consolidated basis grew 55% year-on-year to Rs 331 crore in FY22 and profit after tax rose 75% year-on-year to Rs 50.5 crore in the said period...
The IPO valuation, with a P/E ratio of approximately 66x, may not be directly comparable to its peers mentioned in the RHP," it said.. Anand Rathi, too, has assigned a subscribe rating for the IPO, saying the company is a well-established player in a niche market which has strong RoE despite its small size..
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