IKIO Lighting, a leading lighting solutions company, witnessed a remarkable debut on the Indian stock market, with its shares delivering over a 37% listing gain to investors. The stock market experts are optimistic about the future prospects of IKIO Lighting shares, predicting that they could reach ₹500 in the next quarter. As a result, they recommend investors to hold onto the stock for potential gains.
The highly anticipated initial public offering (IPO) of IKIO Lighting took place recently, and the stock made a dream debut on both the BSE and NSE exchanges. The shares were listed at ₹392.50 per share on the NSE and ₹391 per share on the BSE, providing a significant listing gain of over 37% to fortunate allottees. The positive momentum continued as the stock witnessed further buying interest and reached an intraday high of ₹423.45 per share on the NSE.
Stock market experts believe that despite the strong listing, IKIO Lighting shares continue to attract the attention of bullish investors. They attribute this interest to the company’s robust business model, which is expected to strengthen its balance sheet. With a focus on research and development (R&D) and backward integration, along with established client relationships and consistent financial performance, experts suggest holding onto IKIO Lighting shares for the possibility of reaching the ₹500 mark within the next quarter.
Anubhuti Mishra, an Equity Research Analyst at Swastika Investmart, expressed a positive view on the stock, highlighting the company’s strong debut and the expected gain of around 37% for investors. Considering IKIO Lighting’s R&D focus, backward integration, client relationships, and consistent financial performance, Mishra recommends holding the shares for the long term.
Vaibhav Kaushik, a Research Analyst at GCL Broking, supports the sentiment of holding onto IKIO Lighting shares for further gains. Kaushik emphasizes the company’s sustained business model, which is anticipated to strengthen its balance sheet in the medium to long term. As IKIO Lighting specializes in niche LED lighting products, it is expected to witness a boost in its order book. Therefore, Kaushik suggests holding the stock with a target of ₹500 per share within the next quarter, while maintaining a trailing stop loss at ₹370 per share.
The successful listing of IKIO Lighting IPO on the BSE and NSE exchanges resulted in more than a 37% gain for allottees. The public issue, which opened for bidding on June 6th, 2023, and closed on June 8th, 2023, received an overwhelming response. The IPO was oversubscribed by a staggering 67.75 times, with the retail portion being subscribed 14.31 times. The non-institutional investor (NII) portion witnessed a subscription of 65.38 times, while the Qualified Institutional Buyer (QIB) portion was oversubscribed by 163.06 times.
IKIO Lighting shares made an impressive debut on the Indian stock market, offering substantial listing gains to investors. Stock market experts are positive about the future potential of IKIO Lighting, projecting a target of ₹500 per share in the next quarter. Investors are advised to consider holding onto their IKIO Lighting shares, leveraging the company’s sustained business model and its position in the LED lighting segment.