IKIO Lighting share price was listed on NSE and BSE on Friday 16th June 2023. The IKIO Lighting share price gave a 41.70% return on the very first day which is the listing day.
IKIO Lighting IPO was opened on 6th June 2023 and closed on 8th June 2023, the IPO price upper band was set to Rs.285. The IKIO Lighting share price is listed at Rs.395 on Friday 16th June 2023 on NSE and BSE which is more than 40% return compared to the IPO price.
About IKIO Lighting Limited, they create, develop, manufacture, and sell items to clients, who then resell them under their names. According to BSE data collection, IKIO distributed 63.84 lakh shares of stock to 16 funds at an issue price of Rs 285 per share. Major investors have contributed Rs 182 crore to the company.
IKIO Lighting share price has shown one of the most beneficial market issues of the year. IKIO Lighting share IPO was Rs 607 crore including a fresh issue of Rs 350 crore and an offer of sale (OFS) of 90 lakh shares of stock.
Within a short period of time after listing, the IKIO Lighting share price increased by 8.9%, and made intraday high point at Rs 427.50, it’s around 50% greater than the IPO price. At the end of the trading session, IKIO Lighting share price closed at Rs 403.85.
After a long time, in IPO opening shares the IKIO Lighting share price has given a solid opening and high point on the very first day of listing, hence It is now making questions for the early investor whether to book the profit or hold more. Also, the investor who did not receive shares through IPO may also look opportunity for a fresh buy in a live market session.
Looking at the Price chart, based on the 1-day history, the IKIO Lighting share price is getting support near Rs 401.30.
Rs 413 will may act as 1st resistance and the high point which is Rs 427.50 will may act as the 2nd resistance. The price ended at Rs 403.85 which is below the trend line and could be an indication of a downside, but as a support level Rs 401.30 is close to it, and looking a the opening it is a high chance that the price can bounce from Rs 401.30 and try to go previous high point.
In the next trading session if the price opens above Rs 427.50 or sustains after crossing to it, then there will be an open target and the stock may make a new high point.
Disclaimer: The information in this post is an author’s view and is just for entertainment, education, and information purpose and it does not indicate any kind of investment. Please perform your own research and take advice from your fund advisor. The information in this post will not be responsible for any profit or loss.