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LED lighting solution provider <keyword id="15151029" type="General" weightage="100" keywordseo="ikio-lighting" source="Orion">IKIO Lighting</keyword> Ltd on Thursday said it has fixed a price band of Rs 270-285 per share for its Rs 606-crore initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>). The issue will be open for public subscription during June 6-8 and the bidding for anchor investors will open on June 5, the Noida-based company said in a statement. The IPO consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity stocks by promoters Hardeep Singh and <keyword id="2491354" type="General" weightage="50" keywordseo="surmeet-kaur" source="Orion">Surmeet Kaur</keyword>. At the upper end of the price band, the initial share-sale will fetch Rs 606.5 crore. Proceeds from the fresh issuance worth Rs 50 crore will be used for debt payment, Rs 212.31 crore will be used in the company's wholly-owned subsidiary, <keyword id="17582560" type="General" weightage="50" keywordseo="ikio-solutions" source="Orion">IKIO Solutions</keyword>, to set up a new facility at Noida, <keyword id="6357713" type="General" weightage="50" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword>, and for general corporate purposes. The company said that half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for a minimum of 52 equity shares and in multiples of 52 equity shares thereafter. IKIO Lighting is a manufacturer of light-emitting diode (LED) lighting solutions. It is primarily an original design manufacturer (ODM) and designs, develops, manufactures and supplies products to customers who then further distribute these products under its brands. It has four manufacturing facilities with one located in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida in the National Capital Region. IKIO Lighting's revenue from operations jumped 55.47 per cent on year-on-year basis to Rs 331.84 crore in fiscal 2022 from Rs 213.45 crore in fiscal 2021 and profit after tax surged 75.37 per cent to Rs 50.52 crore from Rs 28.81 crore during the period. Motilal Oswal Investment Advisors is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on the BSE and NSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/royal-enfield-sales-rise-22-in-may-at-77461-units/articleshow/100679587.cms">Royal Enfield sales rise 22% in May at 77,461 units</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gst-collection-rises-12-to-1-57-lakh-crore-in-may/articleshow/100679573.cms">GST collection rises 12% to ₹1.57 lakh crore in May</a>

IKIO Lighting sets IPO price band at ₹270-285/share

<ul><li><keyword id="15151029" type="General" weightage="20" keywordseo="ikio-lighting" source="Orion">IKIO Lighting</keyword> is expected to announce its share allotment status today.</li><li>The shares of IKIO Lighting were subscribed by 67.75 times overall.</li><li>The shares are expected to be listed on the stock exchanges on June 16.</li></ul>Noida-based<a href="https://www.businessinsider.in/stock-market/news/ikio-lighting-ipo-ten-things-to-know-before-you-subscribe/slidelist/100767847.cms"> IKIO Lighting</a>, a manufacturer of light-emitting diode (LED) lighting solutions, is expected to announce the allotment status of its initial public offering (IPO) today, that is June 13. The <keyword id="15151031" type="General" weightage="80" keywordseo="ikio-lighting-ipo" source="Orion">IKIO Lighting IPO</keyword> opened on June 6 and closed on June 8. The price band for the IPO was ₹270 to ₹285 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the IPO was subscribed 67.75 times, receiving bids for 101.92 crore equity shares against 1.52 crore shares on offer. While the qualified institutional buyer portion was subscribed 163.06 times, the non-institutional investors portion was subscribed 65.38 times. The retail portion also witnessed good participation and was subscribed 14.31 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of IKIO Lighting are currently commanding a grey market premium (GMP) of ₹102 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="How to check IKIO Lighting IPO allotment status?" comment="subhead" text="How to check IKIO Lighting IPO allotment status?">How to check <keyword id="17681395" type="General" weightage="100" keywordseo="ikio-lighting-ipo-allotment" source="Orion">IKIO Lighting IPO allotment</keyword> status?</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the IKIO Lighting IPO allotment status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Select IPO and then select ‘IKIO Lighting’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will show the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the IKIO Lighting IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘IKIO Lighting’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>You will be able to see the number of shares allotted to you.</li></ul>You must click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="IKIO Lighting listing date" comment="subhead" text="IKIO Lighting listing date">IKIO Lighting listing date</cmsannotation> The shares of IKIO Lighting will be listed on the stock exchanges on June 16. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/covid-19-vaccination-data-reportedly-leaked-id-proof-date-of-birth-and-other-details-available-on-telegram/articleshow/100931799.cms">Covid-19 vaccination data reportedly leaked – ID proof, date of birth and other details available on Telegram</a> <a href="https://www.businessinsider.in/tech/news/covid-19-vaccination-data-reportedly-leaked-id-proof-date-of-birth-and-other-details-available-on-telegram/articleshow/100931799.cms">Tendulkar, Ganguly, Gavaskar analyse team India’s WTC loss and road ahead</a> <a href="https://www.businessinsider.in/tech/news/india-dominates-smartwatch-market-accounts-for-over-a-quarter-of-global-sales-in-q1-2023/articleshow/100522354.cms">India dominates smartwatch market, accounts for over a quarter of global sales in Q1 2023</a>

IKIO Lighting IPO - How to check allotment status, listing date and more

<ul><li>The IPO consists of a fresh issue of ₹350 crore and an offer for sale of upto 7.5 million shares by shareholders and promoters.</li><li>The proceeds from the <keyword id="15151031" type="General" weightage="20" keywordseo="IKIO-Lighting-IPO" source="Orion">IKIO Lighting IPO</keyword> will be used to repay debt worth ₹50 crore. As of August 2022, the company’s total outstanding borrowings amounted to ₹70 crore.</li><li>It is looking to open a new facility at Noida, Uttar Pradesh.</li></ul>IKIO Lighting, which is a provider of light-emitting diode (LED) lighting solutions, has filed draft papers with the Securities Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company intends to raise as much as ₹350 crore, via a fresh issue and an offer for sale. The proceeds from the IPO will be used to repay debt worth ₹50 crore. As of August 2022, the company’s total outstanding borrowings amounted to ₹70 crore. Further, it is looking to open a new facility at Noida, Uttar Pradesh by investing IPO proceeds worth ₹236 crore via its subsidiary IKIO Solutions. IKIO Lighting has four facilities with one in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida. As of March 2022, it had an annual installed capacity to manufacture 20.31 million LED light pieces. The company had witnessed a partial shutdown of its units during lockdown. “Due to the nationwide lockdown, we were required to shut down our manufacturing operations from March 25, 2020 to May 3, 2020. Any future restrictions on our workforce’s access to any of our manufacturing facilities and the health and availability of our workforce could limit our ability to meet customer orders and have a material adverse effect on our business, results of operations and financial condition,” said the company in DRHP. In the past three fiscal years, it provided products to over 900 domestic and six international customers. Philips Electronics is one of its largest customers. The company is in negotiations with some of its existing customers to supply their LED home lighting products to their international supply chain. Along with its improving profitability in the last three years, the company’s EBITDA margin has also improved over time. It was at 23.3% in FY22; 22.4% in FY21 and 16.94% in FY20. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fiscal year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹333 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹50 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹214 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹28 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹221 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹21 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-set-to-open-on-oct-4-commands-grey-market-premium-of-30/share/articleshow/94620046.cms">Electronics Mart India IPO set to open on Oct 4; commands grey market premium of ₹30/share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/heres-all-you-need-to-know-about-suzlon-energys-1200-crore-rights-issue-after-founder-tulsi-tantis-death/articleshow/94617068.cms">Here’s all you need to know about Suzlon Energy’s ₹1,200 crore rights issue after founder Tulsi Tanti’s death</a>

Noida-based LED IKIO Lighting files DRHP with SEBI to raise ₹350 crore

IPO gold rush: All but 4 IPOs in FY24 gave positive returns on listing

<ul><li>The Indian government has refuted that there has been a direct breach from its <keyword id="17689208" type="General" weightage="20" keywordseo="cowin-database" source="Orion">CoWIN database</keyword> that was used for <keyword id="9257042" type="General" weightage="20" keywordseo="covid-vaccination" source="Orion">COVID vaccination</keyword>.</li><li>The data leak, reported on June 12, is from an earlier <keyword id="608402" type="General" weightage="20" keywordseo="data-breach" source="Orion">data breach</keyword>, says the government.</li><li>The Union Minister has clarified the situation on Twitter.</li></ul> The Indian government has swung into action after reports about a<a href="https://www.businessinsider.in/tech/news/covid-19-vaccination-data-reportedly-leaked-id-proof-date-of-birth-and-other-details-available-on-telegram/articleshow/100931799.cms"> data breach</a> from the <keyword id="10440405" type="General" weightage="20" keywordseo="cowin" source="Orion">CoWIN</keyword> database came to light. The government has said that it “does not appear” that the CoWIN app and database have been “directly breached”. CloudSEK, an AI <keyword id="17689209" type="General" weightage="20" keywordseo="digital-risk-management" source="Orion">digital risk management</keyword> company has released a <a href="https://www.cloudsek.com/threatintelligence/cowin-data-leak-claim-and-cloudsek-analysis">report</a> which agrees with the government’s claim that the leak is not new. <keyword id="205969" type="General" weightage="20" keywordseo="rajeev-chandrasekhar" source="Orion">Rajeev Chandrasekhar</keyword>, the union minister of state for the Ministry of Electronics and Information Technology took to Twitter to clarify the government’s stand on the <keyword id="13005926" type="General" weightage="100" keywordseo="cowin-data-leak" source="Orion">CoWIN data leak</keyword> issue. <cmsannotation type="cmsannotation" annotationid="Data leak from a previous breach?" comment="subhead" text="Data leak from a previous breach?">Data leak from a previous breach?</cmsannotation> Chandrasekhar in his tweet mentioned that the data being used by the Telegram bot is from a threat actor database, which is being populated using previously stolen data. To recall, data of over 20,000 people, including their name, mobile number, Covid-19 test result and their address was<a href="https://www.hindustantimes.com/india-news/data-meant-for-cowin-portal-leaked-online-over-20-000-indians-likely-affected-101642767559692.html"> reportedly</a> leaked in 2022. In another instance, data of over 15 crore citizens was<a href="https://www.timesnownews.com/technology-science/article/cowin-apps-covid-19-vaccination-data-of-15-crore-users-leaked-and-up-for-sale-government-denies-breach/769434"> reportedly</a> leaked in 2021 and the hackers put the data on sale. The government however refuted the claim and said that the CoWIN platform was never hacked. Interestingly, the government had so far not confirmed a data breach and has only now confirmed that there was a breach in the past, without revealing any information about the extent of the breach or the cause. <cmsannotation type="cmsannotation" annotationid="API exists to pull data without OTP" comment="subhead" text="API exists to pull data without OTP">API exists to pull data without OTP</cmsannotation> The government in a<a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1931691"> press release</a> has said that while there are no public APIs (application programming interface) to pull CoWIN data without an OTP, there are APIs, which have been shared with third parties such as ICMR that can pull data from CoWIN with just the phone number, similar to what we have seen on the Telegram bot. The government however claims that requests are accepted only from a trusted API. “There are some APIs which have been shared with third parties such as ICMR for sharing data. It is reported that one such API has a feature of sharing the data by calling using just a mobile number of Aadhaar. However, even this API is very specific and the requests are only accepted from a trusted API which has been white-listed by the Co-WIN application.” <cmsannotation type="cmsannotation" annotationid="Expert take" comment="subhead" text="Expert take">Expert take</cmsannotation> CloudSEK, which provides AI digital risk management solutions has analysed the telegram bot using XVigil, its AI digital risk platform. As per its analysis, the hacker does not have access to the CoWIN platform or its backend database. “Based on matching fields from Telegram data and previously reported incidents affecting Healthworker of a region, we assume the information was scraped through these compromised credentials,” CloudSEK said in its report. According to the company, the data is from a 2022 leak wherein a Russian cybercrime forum offered compromised access to the CoWIN platform for the Tamil Nadu region. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ikio-lighting-ipo-how-to-check-allotment-status-listing-date-and-more/articleshow/100939900.cms">IKIO Lighting IPO - How to check allotment status, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/covid-19-vaccination-data-reportedly-leaked-id-proof-date-of-birth-and-other-details-available-on-telegram/articleshow/100931799.cms">Covid-19 vaccination data reportedly leaked – ID proof, date of birth and other details available on Telegram</a> <a href="https://www.businessinsider.in/finance/news/2000-note-withdrawal-how-to-exchange-notes-is-it-a-legal-tender-and-other-questions-answered/articleshow/100412941.cms">₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered</a>

Cyber security group’s AI analysis supports theory that CoWIN data leak not new

Electric two-wheeler makers <keyword id="108831" type="General" weightage="50" keywordseo="tvs-motor-company" source="Orion">TVS Motor Company</keyword>, Ather Energy and <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> have increased prices of their products as curtailed subsidy structure comes into effect from June 1. In a statement, TVS Motor Company stated that in order to propel the electrification journey further in a sustainable manner after <keyword id="21028" type="General" weightage="80" keywordseo="fame" source="Orion">FAME</keyword> II scheme revision, it has increased iQube's price between Rs 17,000 and Rs 22,000 depending on the variant. The iQube base and S trims were earlier priced at Rs 1,06,384 and Rs 1,16,886, respectively in Delhi. "FAME II will gradually reduce over the next few quarters. The company will continue to deliver delightful product options and great value proposition to propel the electrification and green energy penetration in two-wheelers in the country," TVS Motor Company Director and CEO K N Radhakrishnan said. The company will offer a loyalty benefit programme for the customers of iQube, who have made bookings till May 20, 2023, for a limited period to ease the cost burden post the revision in FAME II subsidy, he added. Ather Energy said that following the FAME II subsidy revision applicable from today, it has also revised the prices of its scooters with 450X now starting at Rs 1,45,000 (ex-showroom Bengaluru). The 450X with <keyword id="17580517" type="General" weightage="50" keywordseo="pro-pack" source="Orion">Pro Pack</keyword> now starts at Rs 1,65,435 in Bengaluru, an increase of around Rs 8,000. "The FAME II revision has resulted in a subsidy reduction of around Rs 32,000. However, the company is absorbing a huge chunk of this price impact for its customers with a view to quicken EV adoption in the country," Ather Energy Chief Business Officer <keyword id="13554227" type="General" weightage="50" keywordseo="ravneet-s-phokela" source="Orion">Ravneet S Phokela</keyword> stated. <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> said its electric scooter S1 Pro is now priced at Rs 1,39,999; S1 (3KWh) at Rs 1,29,999; and S1 Air (3KWh) at Rs 1,09,999. The product range is now roughly Rs 15,000 costlier than before. "With an unyielding dedication to customer satisfaction, we have marginally increased our product prices starting June, despite significant reduction in government subsidies, making Ola S1 the best EV proposition in India," Ola Electric Founder and CEO Bhavish Aggarwal said. In a statement, Hero Electric said that it will not increase the prices of its popular e-scooter models. The company said it remains dedicated to promoting the adoption of electric two-wheelers and dispelling misconceptions about their cost of ownership. "Despite the extreme financial crunch forced upon us due to subsidies stuck with Ministry of Heavy Industries for over 15 months, we will continue to do our bit in offering affordable mobility solutions to the discerning customers by holding on to our current prices till we can," said Hero Electric CEO Sohinder Gill. The Heavy Industries Ministry has notified that for electric two-wheelers, the demand incentive will be Rs 10,000 per kWh. The cap on incentives for electric two-wheelers will be 15 per cent of the ex-factory price of vehicles from 40 per cent at present. The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for two years till March 31, 2024. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/royal-enfield-sales-rise-22-in-may-at-77461-units/articleshow/100679587.cms">Royal Enfield sales rise 22% in May at 77,461 units</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ikio-lighting-sets-ipo-price-band-at-270-285/share/articleshow/100679971.cms">IKIO Lighting sets IPO price band at ₹270-285/share</a>

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IKIO Lighting sets IPO price band at ₹270-285/share

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