IKIO Lighting files papers with Sebi to mop-up funds through IPO ...Middle East

Manufacturer of LED lighting solutions IKIO Lighting Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). 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 75 lakh equity shares by promoters -- Hardeep Singh and Surmeet Kaur, according to the draft red herring prospectus (DRHP). Proceeds from the fresh issuance worth Rs 50 crores will be used for debt payment, Rs 236.68 crore will be used in the company's wholly-owned subsidiary, IKIO Solutions, to set-up a new facility at Noida, Uttar Pradesh, and for general corporate purposes. IKIO Lighting is a manufactu

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