Friday, June 2, 2023

Samira Habitats honoured with the Times Realty Award 2023 for their Vision & Contribution to the Development of Alibag at the Times Real Estate Conclave & Awards 2022-23

Mumbai, June 2, 2023 : Samira Habitats, the leading real estate lifestyle development company, has been honored with Special Recognition for their significant Contribution to the Development of Alibag at the prestigious Times Real Estate Conclave Awards 2022-23. The event convened on May 31, 2023, at the Taj Mahal Palace Hotel, Mumbai and the award was conferred by Shri Deepak Vasant Kesarkar, Mumbai's Guardian Minister & Cabinet Minister for Education and Marathi Language.

Brijesh Lohana, Executive Director, and Sonali Rajput, Chief Operating Officer of Samira Habitats, received the coveted award on behalf of "the entire Samira Habitats team and family of happy Alibagkars, led by MD, Samir A. Nerurkar." This award is a testament to Samira Habitats' deep commitment to the transformation and humungous upward valuation of Alibag's real estate landscape.

Samira Habitats, under the visionary leadership of Founder and Managing Director, Samir A. Nerurkar, has actively invested in and collaborated with Alibag over the last two decades. The company commands a pivotal position in shaping a saturated Mumbai's bayside living option! Samira's Alibag!  Curating, aggregating and creating sustainable, expanded, nature loving modern living spaces, for those who understand the value of #investinyourself.

Expressing his delight on receiving this esteemed recognition, Samir A. Nerurkar shared, "I am extremely pleased and honoured to receive this recognition by the Times Group. Alibag holds a special place in our hearts, and we have always been dedicated to its growth and progress. This award is a validation of our vision, hard work and dedication, as team Samira Habitats.  Each one of us, and the ever-growing family of Samira clients, have made this possible. I am humbled, grateful to the Universe and proud of our team! The story has only begun! "

The Times Real Estate Conclave & Awards is a prestigious event that recognizes and celebrates excellence in the real estate industry. It serves as a platform to acknowledge the outstanding contributions made by individuals and organizations towards the development and transformation of various regions across the country.

Samira Habitats' remarkable achievements in Alibag have positioned them as one of the most respected and trusted real estate developers in the region. With a strong commitment to quality, innovation, and customer satisfaction, Samira Habitats continues to set new benchmarks in the industry.


Media Contact   :Perception Managers –Arati /Deepti -9820022491/9867184309


About Samira Habitats:

Samira Habitats is a renowned real estate development company committed to creating exceptional living spaces. With a focus on sustainable development, innovation, and customer satisfaction, Samira Habitats has been transforming the real estate landscape since its inception. The company's vision is to deliver projects that exceed expectations and contribute to the overall growth and prosperity of the communities they serve.

Aegon Life Breaks New Ground: Unveils First Life Insurance Cover for Surrogate Mothers and Egg Donors

Life insurer takes the lead in supporting Government’s efforts in safeguarding the interests of surrogate mothers and egg donors.

Mumbai, 1 June 2023: Aegon Life, digital India's life insurance company, makes news strides by pioneering the first life insurance cover tailored for surrogate mothers and egg-donors, effectively backing their financial well-being. This trailblazing initiative supports the implementation of provisions in the Surrogacy (Regulation) Act, 2021, and the Assisted Reproductive Technology (Regulation) Act, 2021, spearheaded by India’s Ministry of Health & Family Welfare. Notably, the innovative coverage provides a life cover of three years for surrogate mothers and one a year for egg donors to provide protection against any life-threatening complications arising out of the said procedures.

True to Aegon Life’s vision of securing every Indian household financially, the company rolls out this offering aimed specifically at surrogate mothers and egg donors, who have largely been overlooked by conventional life insurance products. In case of an unfortunate event leading to their death, the policy provides financial protection to their nominees. Offered as a group plan through ART-registered fertility and surrogate clinics, the company has already provided coverage for over 100 surrogacy procedures since the beginning of this calendar year.

Satishwar B., MD & CEO of Aegon Life Insurance, said, "We are proud to be the first life insurance company in India to embrace this initiative. Our advanced digital infrastructure has facilitated the swift creation of this holistic and affordable solution, thereby backing surrogate mothers and those pursuing surrogacy. This represents our staunch commitment to equip our customers with the means to fulfill their life objectives.”

Aegon Life Insurance is dedicated to cultivating inclusivity and keeping pace with the changing needs of individuals and families in the contemporary world. This breakthrough life insurance coverage for surrogate mothers and couples is a testament to the company’s ceaseless drive to develop pioneering solutions that secure and empower all Indians.

About Aegon Life:

Aegon Life is Digital India’s life insurance company and pioneered the online Term Insurance plan in India. As India’s only 100% digital life insurance company, it’s building innovative solutions to financially secure every Indian household and provide greater clarity, transparency, and superior consumer experience.

Habitat for Humanity India and ExxonMobil build anganwadi centres and sanitation facilities in government schools

Project includes construction of gender segregated toilets in four government schools, construction and renovation of anganwadi centres, setting up of water filters and hand-washing facilities. 

Project to benefit more than 1,200 students in four government schools and two anganwadi centres located in Bengaluru and Chikkaballapur districts. 

Additionally, the NGO is inculcating the habit of good hygiene and sanitation among children through awareness sessions. 

Mumbai, 2 June 2023: Four government schools in Bengaluru and Chikkaballapur now have access to new and upgraded sanitation units and clean drinking water facilities thanks to Habitat for Humanity India, a leading housing non-profit organisation, and ExxonMobil Services & Technology Private Limited (ExxonMobil). The new infrastructure offers improved access to safe and hygienic sanitation facilities and clean drinking water to more than 1,200 school students.

Additionally, two anganwadi centres in Chikkaballapur have gone through a complete makeover, with one being newly constructed and another renovated. Pregnant women, mothers and children up to 5 years of age who visit the anganwadi centres to avail the integrated child development services will benefit from the newly built infrastructure.  

The facilities were handed over to the schools and anganwadi authorities in a handover ceremony held on 1st June, 2023. The ceremony was attended by Vipin Rana (ExxonMobil, India Market Manager – Lubes), Chinedu C Agbalaka (ExxonMobil Technology Center Subsurface Manager), Kirti N Parmar (ExxonMobil, Technology Center IT Manager), Sartaj S Ghai (ExxonMobil - Technical Advisor), Habitat India’s team and dignitaries from the schools and anganwadis.  

Under the project, sanitation units and hand-washing facilities have been built in Swami Vivekananda High School in Hoskote; Siddhartha Educational Society in Lingarajpuram, Bengaluru; Model Primary School and Government Higher Primary school in Avathi, Chikkaballapur district. The anganwadis are located in Mandikal village in Chikkaballapur district. The development of the school sanitation infrastructure and anganwadis is part of Habitat for Humanity India’s water, sanitation and hygiene (WASH) and community infrastructure development initiative.  

Commenting on the initiative, Habitat for Humanity India’s spokesperson said, “We are thankful to ExxonMobil for their generous support. Through our partnership with government schools and anganwadi centers, we are proud to have constructed sanitation units, built a new anganwadi center, and renovated another anganwadi centre. These efforts not only enhance the learning environment but also empower children with dignity and the opportunity to thrive. Habitat for Humanity India remains committed to creating sustainable and inclusive spaces that nurture the dreams and aspirations of our future generations."

ExxonMobil said, “No child should be held back due to a lack of basic sanitation services. But this problem disproportionately impacts girls. In fact, it’s viewed as one of the primary reasons they are denied a real chance at education. That’s why, at ExxonMobil, we back impactful initiatives such as this one that create more “pull factors” for children to complete their schooling and build themselves a promising future.”


Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort. The housing organization has since grown to become a leading global nonprofit working in more than 70 countries. In India since 1983, Habitat for Humanity has supported more than 38 million people by helping them build or improve a place they can call home, build improved sanitation units and provide humanitarian aid and disaster resilient shelter solutions in the aftermath of natural disasters.  

Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. 

To learn more, donate or volunteer, visit

The Largest Ever Silver Exhibition Shines in Mumbai, Showcasing Exquisite Artistry and Timeless Elegance

MUMBAI, June 2, 2023 – We are thrilled to announce the grand opening of the largest ever Silver Exhibition in India at Jio convention centre, BKC Mumbai, an extraordinary showcase of exquisite artistry and timeless elegance in the world of silver craftsmanship. This landmark event will take place from June 8th June to 11th June, 2023, at the prestigious JIO  Convention Center, BKC, Mumbai

This one-of-a-kind exhibition aims to celebrate the rich cultural heritage and unmatched craftsmanship associated with silver. With over 500 Booths of renowned silver jewellers and designers from across the globe participating, this event promises to captivate visitors with an awe-inspiring display of masterpieces.

The Silver Exhibition will feature an extensive collection of breathtaking silver artifacts, including ornate jewelry, intricately designed home decor, finely crafted cutlery, and much more. 15000 registered Visitors will have the unique opportunity to witness the diverse range of techniques employed by skilled artisans to transform silver into objects of unparalleled beauty.

The event will also host engaging workshops and demonstrations by industry experts, providing a deeper understanding of silver craftsmanship techniques and the history behind this precious metal. Visitors can learn firsthand about the intricate processes involved in creating silver jewelry and witness live demonstrations by talented artisans, who will be happy to share their knowledge and passion.

"We are delighted to present this grand exhibition, showcasing the finest silver craftsmanship from around the world," said Dr. chetan Mehta, Vice President at IBJA]. "This exhibition is not only a celebration of the artistic excellence associated with silver but also an opportunity to promote and preserve the rich cultural heritage that it represents, states Surendra Mehta ,National secretary-IBJA 

The Silver Exhibition in Mumbai will be a hub of inspiration and a platform for interaction among artisans, collectors, connoisseurs, and enthusiasts. Visitors can explore the exhibition at their leisure, marvel at the exceptional creations on display, and even have the chance to acquire unique silver pieces to add to their collections.

About 150000 Silver jewellery design and Artifacts will be showcased for the industry, Said Prithviraj Kothari, National  President at IBJA.

For more information and updates about the largest ever Silver Exhibition in Mumbai, please visit and Join us in this celebration of silver craftsmanship and witness the magnificence of this precious metal firsthand.


Thursday, June 1, 2023

BCG to present its report on the Startup industry at TiEcon Mumbai 2023

Mumbai, 1 June 2023: TiE Mumbai has announced the 16th edition of its flagship conference - TiEcon Mumbai which will be held on the 2nd of June 2023 at the Jio World Convention Centre. BKC. This year's conference is based on the theme "Unboxing India 3.0 – Anti fragile| Conscious| Innovating". 

TiEcon Mumbai is the largest Entrepreneurial conference in the West of India, and it attracts all the key Industry Leaders from Mumbai and India, Startup Founders and Investors. BCG will be presenting their report on the startup industry at the session, Unboxing India 3.0 to kickstart the conference. 

While the entire report will be available tomorrow, 2nd June at the TiE conference, Shaleen Sinha, Managing Director, BCG said “Today there is a significant discussion on the “winter” in the startup eco system. However, while the environment is tough, there are few important points to note. Overall funding environment while tepid still has significant investments happening especially in seed and early stage, this supplemented with high levels of dry powder imply that there are funds available for right ideas and companies. This in conjunction with the fact that India is growing and poised to double from its current size to a $7 Tn economy by 2030, implies multiple opportunities for new ventures.”

He further added “Market estimates show > 15 sectors with potential market sizes ranging from $10 Bn to $ 500 Bn by 2027, where significant digital disruption is happening or can happen – and thus are ripe for new startups. Finally, we also believe that this period will see emergence of companies which have far leaner “cost of growth” which will help them scale far more efficiently as they come out of this downturn. Across sectors, we are seeing founders and management teams double down on improving the unit economics of their core business, as also selectively hone few bets for future growth. As we have seen empirically companies which are able to do this well during such tough environments create significant gap against competition and are also rewarded disproportionately by the market.”

Ranu Vohra, President – TiE Mumbai said “At TiE we aim to provide entrepreneurs with the tool kit they need to create scalable, robust businesses. The BCG report plays a pivotal role in that direction. It presents details on the large addressable markets and defines the food chain for each of these. Entrepreneurs can use this information to direct their capital towards what might create most impact in the next few years. We, at TiE hope that startups will create solutions addressing these opportunities and market sets, whether it’s in Generative AI or EV tech. We further hope TiEcon Mumbai 2023 will provide entrepreneurs the templates for thriving in the current environment and contribute further towards further accelerating India’s growth.”

What to Expect at TiEcon 2023 - 45+ Unicorns, 100+ Soonicorns, 500+ Investors, 100+ Corporates, 2500+ Entrepreneurs, 100+ Bankers, 200+ Industry leaders, 25+ Private Equity attending the event.

Unboxing TiEcon Mumbai 2023- The conference will look at the sessions from the macro lens on the main stage. The main stage will feature leaders delivering their thoughts on macro-level issues, such as India 3.0, funding interests and innovation in India and beyond. It's going to be packed with Expo Zone with more than 100 startups and other networking zones.

To know more about the event, please click here 

About TiE Mumbai

The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. Since 1992. TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship globally through the 5 pillars of TiE : mentoring, networking and education, funding and incubation. Dedicated to the virtuous cycle of wealth creation and giving back to the community. TiE’s focus area is to generate enable the next generation of entrepreneurs. There are currently 11,000 members, including over 2,500 charter members in 60 chapters across 17 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs.

About Boston Consulting Group

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we help clients with total transformation—inspiring complex change, enabling organizations to grow, building competitive advantage, and driving bottom-line impact.

To succeed, organizations must blend digital and human capabilities. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives to spark change. BCG delivers solutions through leading-edge management consulting along with technology and design, corporate and digital ventures—and business purpose. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, generating results that allow our clients to thrive. For more information, please visit

IKIO Lighting Limited’s Initial Public Offering to open on June 06, 2023, sets price band at ₹270 to ₹285 per Equity Share

Price Band of ₹270 – ₹285 per equity share bearing face value of  ₹ 10 each (“Equity Shares”)

Bid/Offer Opening Date – Tuesday, June 06, 2023 and Bid/Offer Closing Date – Thursday, June 08, 2023.

Minimum Bid Lot is 52 Equity Shares and in multiples of 52 Equity Shares thereafter.

The Floor Price is 27 times the face value of the Equity Share and the Cap Price is 28.5 times the face value of the Equity Share.

Risks to Investors:

I. Risk Factors associated with our Company. 

1. Proforma Financials: Since September 12, 2022 our Company owns 100% of the equity shareholding of our Subsidiaries. As our Company did not own 100% of the equity shareholding of our Subsidiaries until September 12, 2022, the Restated Consolidated Financial Information does not include financial information for our Subsidiaries prior to their acquisitions by our Company. Accordingly, our Restated Consolidated Financial Information, as of, and for the nine month period ended December 31, 2022, and as of, and for the years ended, March 31, 2022, 2021 and 2020, are not comparable to any future financial results that we may prepare. In addition, because of their nature, our Proforma Consolidated Financial Information addresses a hypothetical situation and, therefore, does not represent our factual results of operations or financial condition. 

2. Customer Concentration: We are dependent on, and derive a substantial portion of our revenue from, a single customer, Signify Innovations India Limited, erstwhile Philips India and revenue from Signify accounted for 70.04%, 91.23%, 94.60% and 95.63%, respectively, of our restated revenue from operations and accounted for 51.31%, 60.45%, 70.76% and 61.07%, respectively, of our proforma consolidated revenue from operations. Further, over 85% of our revenue is derived from our top twenty customers on a restated basis and a proforma consolidated basis for the nine months ended December 31, 2022 and Fiscal 2022. Cancellation by our top customers or delay or reduction in their orders could have a material adverse effect on our business, results of operations and financial condition. 

3. Product Concentration: We are dependent on, and derive a substantial portion of our revenue from, LED lighting products. Our revenue from operations on a restated basis in the LED lighting category accounted for 91.27%, 91.59%, 94.25% and 95.85%, respectively, of our restated revenue from operations. In the nine months ended December 31, 2022 and in Fiscal 2022, Fiscal 2021 and Fiscal 2020, our revenue from operations on a proforma consolidated basis in the LED lighting category accounted for 86.05%, 86.78%, 87.26% and 85.21%, respectively, of our proforma consolidated revenue from operations. Any reduction in orders from our LED lighting product line could have a material adverse effect on our business, results of operations and financial condition. 

4. Dependence on Third Party Suppliers: We rely on a number of third party suppliers for our key components, materials and stock-in-trade as well as customer support services including product repairs and returns. Further, we do not have any long term contracts with any of the suppliers. Any shortfall in the supply of our components and raw materials or an increase in our component or raw material costs, or other input costs, may adversely affect the pricing and supply of our products and have an adverse effect on our business, results of operations and financial condition.

5. Dependence on Imported Components: We rely on imported components from vendors in China, Singapore, Hong Kong and Taiwan and raw materials, and in the nine months ended December 31, 2022 and in Fiscal 2022, imports accounted for 55.67% and 52.25% of our total raw materials purchased on a proforma consolidated basis. Any shortfall in the supply of our imported components and raw materials or an increase in our component or raw material costs, or other input costs, may adversely affect the pricing and supply of our products and have an adverse effect on our business, results of operations and financial condition. 

6. Negative Cash Flows: We have experienced negative cash flows in the nine months ended December 31, 2022 and in Fiscal 2022, Fiscal 2021 and Fiscal 2020. In particular, we have experienced negative cash flows from operating activities in Fiscal 2022 and Fiscal 2021. 

7. No Long Term Arrangements with Customers: We do not receive firm and long-term volume purchase commitments from our customers. If our customers choose not to renew their supply contracts with us or continue to place orders with us, our business and results of operations will be adversely affected. 

8. Dependence on Manufacturing Facilities: Our business is dependent and will continue to depend on our manufacturing facilities, and we are subject to certain risks in our manufacturing process such as the breakdown or failure of equipment, industrial accidents, injury to employees, severe weather conditions and natural disasters. In addition, any strikes, work stoppages or increased wage demands by our employees could also interfere with our operations. Further, we do not own certain of the premises of our manufacturing facilities and corporate offices. While the lease agreements for our manufacturing facilities may be long term or short term lease in nature and provide us with an option to renew them, they also provide the lessor with the right to terminate the lease for non-compliance of the terms of the agreement. Further, our manufacturing facilities are located in Uttarakhand and the National Capital Region “NCR” exposing us to regulatory and other geography specific risks such as labour unrests, terrorist attacks, other acts of violence and occurrence of natural and man-made disasters. 

9. Sizeable Working Capital: We require sizeable amounts of working capital for our continued operation and growth. Our inability to meet our working capital requirements could have a material adverse effect on our business, results of operations and financial condition. As at December 31, 2022, March 31, 2022, March 31, 2021 and March 31, 2020, we had total outstanding working capital loans On a Restated Consolidated Basis aggregating to ₹ 874.84 million, ₹ 147.22 million, ₹ 28.72 million and ₹ 51.20 million, respectively. As at December 31, 2022, March 31, 2022, March 31, 2021 and March 31, 2020, we had total outstanding working capital loans on a proforma consolidated basis aggregating to ₹ 874.84 million, ₹ 678.39 million, ₹ 347.70 million and ₹ 298.62 million, respectively.

II. Details of weighted average cost of acquisition of all Equity Shares transacted in last one year, eighteen months and three years preceding the date of the RHP: 

Period Weighted average cost of acquisition per Equity Share (in ₹)^ Cap Price is ‘X’ times the weighted average cost of acquisition^ Range of acquisition price per Equity Share: lowest price – highest price (in ₹)^ 

One Year# Nil Nil Nil

Eighteen Months# Nil Nil Nil

Three Years Nil Nil Nil

 ^ As certified by the Statutory Auditor, BGJC & Associates LLP, by way of their certificate dated May 29, 2023. 

# Acquired pursuant to a bonus issuance of Equity Shares, allotted on September 17, 2022.


III. Average cost of acquisition of equity shares for our Selling Shareholders namely, Hardeep Singh is  ₹ 0.01 and Surmeet Kaur is ₹  0.01 and Offer Price at upper end of the Price Band is  ₹ 285 per Equity Share. 

IV. Details of price at which specified securities were acquired in the three years preceding the date of the Red Herring Prospectus. The details of the price at which specified securities were acquired in the three years preceding the date of the Red Herring Prospectus, by our Promoters (also the Selling Shareholders), Promoter Group and Shareholders with the right to nominate a director or with other rights, are disclosed below:


No Name of the acquirer/shareholder Date of acquisition of equity shares Number of Equity Shares acquired Acquisition price per equity share^(in ₹)

Promoters (also the Selling Shareholders)

1 Hardeep Singh July 17, 2021 14,970,000 Nil#

2 Hardeep Singh September 17, 2022 23,999,472 Nil#

3 Surmeet Kaur July 17, 2021 9,980,000 Nil#

4 Surmeet Kaur September 17, 2022 16,000,000 Nil#

Promoter Group

1 Ishween Kaur October 04, 2021 100 Nil$

2 Ishween Kaur September 17, 2022 160 Nil#

3 Harjeet Singh October 04, 2021 100 Nil$

4 Harjeet Singh September 17, 2022 160 Nil#

# Pursuant to the issuance of bonus Equity Shares. 

$ Pursuant to a gift from Hardeep Singh 

^ As certified by the Statutory Auditor, BGJC & Associates LLP, by way of their certificate dated May 29, 2023. 

As on the date of the Red Herring Prospectus, the Company does not have any shareholders entitled with right to nominate Directors or any other rights. 

V. Motilal Oswal Investment Advisors Limited (the "BRLM") associated with the Offer has handled 7 public issues in the past three years, out of which 3 issues closed below the offer price on the listing date. 

VI. Market Value at Offer Price to Total Turnover and P/E Ratio at Offer Price

Particulars At Floor Price (i.e. ₹270) At Cap Price (i.e. ₹285)

Restated Consolidated Financial Statements

Market Capitalization / Turnover (Fiscal 2022) 9.57 10.02

P/E Ratio 62.65 66.13

Proforma Consolidated Financial Information

Market Capitalization / Turnover (Fiscal 2022) 6.34 6.64

P/E Ratio 34.75 36.68

VII. Weighted average cost of acquisition compared to Floor Price and Cap Price: There have been no primary transactions as our Company has not issued any Equity Shares or convertible securities, neither has there been any secondary transaction during the last three years preceding the date of the Red Herring Prospectus. 

VIII. Price/Earnings ratio based on diluted EPS for FY22 as compared to the average industry peer group PE ratio

P/E based on Diluted EPS as on FY2022 NA

P/E at Higher End of Price Band based on Diluted EPS (FY2022) 66.13x

Average Industry Peer Group PE Ratio* 56.30x

*Arithmetic Average of P/E ratios of peer companies mentioned in the table appearing in point 7 in Basis of Offer Price on page 120  of the RHP. It may be noted that the P/E Ratio has been computed based on the closing market price of the equity shares as of May 15, 2023 (Source: NSE) on, divided by the Diluted EPS for the period ended March 31, 2022


The PE ratio based on the Price Band or the Offer Price of our Company may not be indicative of the market price of our Company on listing or thereafter.

Mumbai, June 1, 2023: IKIO Lighting Limited, a manufacturer of Light Emitting Diode (LED) Lighting in India, has fixed the price band at ₹270 to ₹285 per Equity Share (of face value ₹10 each) for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Tuesday, June 06, 2023, for subscription and closes on Thursday, June 08, 2023. Investors can bid for a minimum of 52 Equity Shares and in multiples of 52 Equity Shares thereafter.

The Offer with a face value of ₹ 10 per equity share consists of a fresh issue of equity shares worth up to ₹ 350 crore and an offer-for-sale (OFS) of up to 9,000,000 equity shares by existing shareholders.

The Company is primarily an Original Design Manufacturer (ODM) and designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands. They also work with their customers to develop, manufacture and supply products that are designed by their customers. Products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and other products. Equipment and systems produced by the Company are used in various industries, including residential, industrial and commercial lighting. 

The largest customer of IKIO Lightning is Signify Innovations India Limited (formerly known as Philips Electronics India Limited) which, in Fiscal 2022, had a 50% market share in India’s functional decorative lighting category (including LED spotlights, LED downlights and cove lights) and a 10% market share in India’s true-blue decorative lighting segment (including chandeliers, wall lights, pendants, outdoor lights) according to F & S Report. The Company also has a diversified customer base across industry sectors and geographies which includes Western Refrigeration Private Limited, Panasonic Life Solutions India Private Limited and Novateur Electrical & Digital Systems Private Limited.

IKIO Lighting Limited’s revenue from operations on a proforma consolidated basis grew 55.47% from ₹ 213.45 crore in Fiscal 2021 to ₹ 331.84 crore in Fiscal 2022 and profit after tax has increased 75.37% from ₹ 28.81 crore in Fiscal 2021 to ₹ 50.52 crore in Fiscal 2022. The Company, on a Proforma Consolidated basis for Fiscal 2022, has a return on net worth (RoNW) of 46.40% as against some of its listed peers on a consolidated basis such as Dixon Technologies (19.08%), Amber Enterprises (6.30%), Syrma SGS Technology (10.29%) and Elin Electronics (12.93%).

For the nine months ended December 31, 2022, on a proforma consolidated basis, the company’s revenue from operations stood at ₹ 328.63 crore and profit after tax stood at ₹ 51.35 crore.

In case of any revision to the Price Band, the Bid/Offer Period will be extended by at least three additional Working Days after such revision in the Price Band, subject to the Bid/Offer Period not exceeding 10 Working Days. In cases of force majeure, banking strike or similar circumstances, the Company may, in consultation with the Book Running Lead Manager, for reasons to be recorded in writing, extend the Bid / Offer Period for a minimum of three Working Days, subject to the Bid/ Offer Period not exceeding 10 Working Days. Any revision in the Price Band and the revised Bid/Offer Period, if applicable, shall be widely disseminated by notification to the Stock Exchanges, by issuing a public notice, and also by indicating the change on the website of the Book Running Lead Manager and at the terminals of the Syndicate Member(s) and by intimation to the Designated Intermediaries and the Sponsor Banks, as applicable. 

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

Motilal Oswal Investment Advisors Limited is the sole book running lead manager and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on the Main Board of BSE and NSE. 

Disclaimers: IKIO LIGHTING LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a draft red herring prospectus dated September 29, 2022 (the “DRHP”) with SEBI and has filed the red herring prospectus dated May 29, 2023 with the RoC (the “RHP”). The RHP shall be made available on the website of the SEBI at as well as on the website of the BRLM i.e., Motilal Oswal Investment Advisors Limited at, the website of the National Stock Exchange of India Limited at and the website of the BSE Limited at Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see “Risk Factors” beginning on page 33 of the RHP. Potential investors should not rely on the DRHP for any investment decision. 

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management, as well as financial statements. No offering or sale of securities in the United States is contemplated.

DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 477 of the RHP for the full text of the disclaimer clause of SEBI.

DISCLAIMER CLAUSE OF BSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 481 of the RHP for the full text of the disclaimer clause of the BSE Limited.

DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 481 of the RHP for the full text of the disclaimer clause of NSE.

For further details in relation to the Company, BRLM, Company Secretary and Compliance Officer of the Company, availability of application forms and RHP, please refer to statutory advertisement dated May 31, 2023.

Wednesday, May 31, 2023

Saudi Destinations Inspire the World in Indian Premiere League

India continues to show rapid growth as a Saudi source market, expected to bring two million visitors this year 

The IPL partnership welcomes Indian travelers living right across the world to visit Saudi, boosting STA’s growing network of global partnerships

IPL - one of the biggest events on the international sporting calendar – taps into a large fan base, including youth

Mumbai, 31 May 2023 – The Saudi Tourism Authority (STA) partnership with the TATA Indian Premier League (IPL) has deepened ties between Saudi and India, helping to harness the extraordinary potential of sport and tourism to bring people together and enrich lives.

Saudi is set to welcome two million visitors from India this year and India is expected to become its largest tourism source market by 2030. 

Saudi support for India’s sports sector is a strong example of market collaboration delivering results.

Cricket is the most popular sport in India and the IPL has an immense global audience, third to only the English Premier League and the National Football League.

STA is tapping into this fanbase to boost awareness of Saudi as an exciting new year-round destination for Indian travelers, especially young people. The strategic partnership is broadening how India and Saudi are engaging with similarly overwhelmingly young demographics – with more than half of both populations below the age of 30. 

Alongside the IPL partnership, Saudi is easing access for millions of visitors across India, inspiring Indian travelers to explore the authentic home of Arabia. Saudi has opened nine VFS Tasheel offices in different locations across India such as Hyderabad, Mumbai, Chennai, Kochi, Ahmedabad, and Bangalore.providing practical support to Indian travelers interested in a trip to Saudi.

Indian visitors are eligible for the new Stopover Visa, introduced earlier this year, which will allow passengers traveling to a final destination on SAUDIA or Flynas to visit Saudi for up to 96 hours, which includes a complimentary hotel night for Saudia passengers. Additionally, Indian passport holders that have UK, US and Schengen visa that has been used at least once will now be able to apply for a Saudi e-visa online.

These developments follow the rapid advancements in air connectivity between India and the Kingdom with seven direct carriers in operation – SAUDIA, Flynas, Air India, Air India Express, Indigo Airlines, Spice Jet and Vistara and the recently launched route between Jeddah and Ahmedabad by Indigo airlines which increases the accesbility between the two countries.The expansion is part of Saudi’s Air Connectivity Progam and will turn Riyadh into a global hub that will be able to accommodate 120 million passengers in the next seven years.  

Alhasan Aldabbagh, APAC President at Saudi Tourism Authority, said, “Partnerships like the IPL are a key pillar of Saudi’s tourism strategy as they bring fans, athletes, and nations together while sparking curiosity from those that may want to be among the first to visit Saudi as a destination.”

Saudi has a fast-growing love for cricket. In 2020, the Saudi Arabian Cricket Federation (SACF) was set up, managing 16 regional associations in 11 cities, 8,000+ registered players, and 400+ registered clubs, with a total participation of 35,000 in domestic cricket tournaments and championships. The Saudi cricket national team is presently ranked 32nd out of 108 nations in cricket.

The collaboration will not only strengthen Saudi’s commitment to India as an important market but seeks to broaden Saudi’s association with cricket – with the Saudi Vision 2030 plan aiming to increase community participation in sports from 13 per cent to 40 per cent by 2030.

The country is home to six UNESCO World Heritage sites like nowhere else in the world. The ancient city of AlUla is the world’s largest living museum, holding 200,000 years of largely unexplored human history with vast canyons, rock-cut tombs and stunning landscapes, along with world-class restaurants and trailblazing luxury resorts. 

Saudi’s diverse landscape can be enjoyed year-round, from the cool, green highlands of Asir where the locals holiday in the summer to the pristine waters of Saudi’s 1,700km long Red Sea coast where you can swim amongst rare fish and the world’s fourth-largest coral reef.

Find out more about Saudi’s tourism offerings and visa programs on the Visit Saudi website.

About Saudi Tourism Authority

Saudi Tourism Authority (STA), launched in June 2020, is responsible for marketing Saudi Arabia’s tourism destinations worldwide and developing the Kingdom’s offering through programs, packages, and business support. Its mandate ranges from developing the country’s unique assets and destinations, through to hosting and participating in industry events, and promoting Saudi Arabia’s tourism brand locally and overseas.