Lumino Industries Sets IPO Price Band at ₹78-82, Aims to Raise ₹700 Crore

Lumino Industries Ltd has announced the launch of its Initial Public Offering (IPO) valued at ₹700 crore, scheduled to open for public subscription on August 27. The bidding process will conclude on August 31, with anchor investor bidding set for August 25.

The company has fixed the price band for the public offering at ₹78 to ₹82 per share. At the higher end of this price band, the company is valued at approximately ₹2,500 crore.

The public issue comprises a fresh issue of equity shares aggregating up to ₹500 crore, alongside an Offer For Sale (OFS) of shares worth up to ₹200 crore.

According to the company's disclosures, the proceeds generated from the fresh issue will be utilized for debt repayment, the purchase of equipment and machinery, civil works, and the interior development of an existing manufacturing facility. The remaining funds will be allocated toward general corporate purposes.

Lumino Industries operates as a product-centric, integrated Engineering, Procurement, and Construction (EPC) enterprise in India. The company specializes in manufacturing and supplying conductors, power cables, electrical wires, and related specialized components tailored for the power distribution and transmission sector. Its product portfolio also includes high-temperature low-sag (HTLS) conductors, which are utilized in transmission and distribution lines.

The firm serves a diverse domestic clientele, supplying products to prominent EPC players such as Kalpataru Projects International Ltd, Jackson Ltd, Warora Kurnool Transmission Ltd, and Monte Carlo Ltd. On the international front, its client base extends to government-owned utilities and electricity boards across several countries, including the United States, Nepal, Bangladesh, Kenya, Ghana, Rwanda, and Ethiopia.

Regarding the allocation of the issue, 50 per cent has been reserved for Qualified Institutional Buyers (QIBs). Non-Institutional Investors (NIIs) have been allocated 15 per cent, while the remaining 35 per cent is reserved for retail investors.

The equity shares of the company are proposed to be listed on both the BSE and the NSE, with the listing scheduled for September 3. Motilal Oswal, JM Financial, and Monarch Networth Capital are acting as the book-running lead managers for the issue, while Bigshare Services has been appointed as the registrar.

"The upcoming IPO by Lumino Industries highlights a clear strategy for growth and balance sheet strengthening within the manufacturing and EPC sector. By allocating a significant portion of fresh issue proceeds toward debt reduction and facility upgrades, the company is positioning itself to scale its operations efficiently. For investors, the established domestic and international client base adds a layer of operational visibility, though careful evaluation of sector-specific execution risks remains essential." — Dr. Shishir Gupta, Founder & CEO, StartupLanes