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    Lumino Industries IPO

    Updated 11 Sept 2026, 5:03 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,924

    1 lot · 182 shares at the upper price band

    Price band

    ₹82

    Latest GMP

    Not yet quoted

    Est. listing price

    —

    Issue size

    ₹700 Cr

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    GMP history will appear after the scheduled sync records observations.

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹82
    Issue size
    ₹700 Cr
    Lot size
    182
    Opens
    27 Aug 2026
    Closes
    31 Aug 2026
    Allotment
    1 Sept 2026
    Listing
    3 Sept 2026
    Est. listing price
    —
    Listing price
    Awaited
    Listing gain
    Awaited
    Registrar
    Bigshare Services Pvt.Ltd.
    Minimum investment
    ₹14,924 (1 lot · 182 shares)
    Face value
    ₹5 per share
    Issue type
    Bookbuilding IPO
    Sale type
    Fresh capital cum OFS
    Fresh issue
    ₹500 Cr
    Offer for sale
    ₹200 Cr
    Listing at
    BSE, NSE
    Refunds
    2 Sept 2026
    Shares credited
    2 Sept 2026
    Promoter holding
    100% before · 71.97% after
    Lead managers
    Motilal Oswal Investment Advisors Ltd., JM Financial Ltd., Monarch Networth Capital Ltd.

    Offer documents & links

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 31 Aug 2026, 1:23 pm.

    Total subscription

    87.35x

    Qualified Institutional232.79×
    Non Institutional185.21×
    Retail Individual40.27×
    Employee Reservations12.37×

    Full issue details

    Details as published for this issue, read 11 Sept 2026, 4:57 am. Verify against the RHP before applying.

    IPO Details

    IPO Date27 to 31 Aug, 2026
    Listed onThu, Sep 3, 2026
    Face Value₹ 5 per share
    Price Band₹78 to ₹82
    Issue Price₹82 per share
    Lot Size182 Shares
    Sale TypeFresh capital cum OFS
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size8,53,65,851 shares (agg. up to ₹ 700 Cr)
    Fresh Issue6,09,75,609 shares (agg. up to ₹ 500 Cr)
    Offer for Sale2,43,90,242 shares of ₹ 5 (agg. up to ₹ 200 Cr)
    Share Holding Pre Issue24,35,78,096 shares
    Share Holding Post Issue30,45,53,705 shares
    BSE Script Code / NSE Symbol544894 / LUMINO
    ISININE185Q01025

    IPO Timetable

    IPO Open
    Thu, Aug 27, 2026
    IPO Close
    Mon, Aug 31, 2026
    Allotment
    Tue, Sep 1, 2026
    Refund
    Wed, Sep 2, 2026
    Credit of Shares
    Wed, Sep 2, 2026
    Listing
    Thu, Sep 3, 2026

    Issue Reservation

    Investor CategoryShares% of Net Issue% of Total IssueMax Allottees
    QIB4,20,73,16950.00%49.29%NA
    − Anchor Investor2,52,43,901—29.57%NA
    − QIB (Ex. Anchor)1,68,29,268—19.71%NA
    NII (HNI)1,26,21,95115.00%14.79%NA
    − bNII > ₹10L84,14,634—9.86%3,302
    − sNII < ₹10L42,07,317—4.93%1,651
    Retail2,94,51,21935.00%34.50%1,61,819
    Preferential Reservations
    Employee12,19,512—1.43%NA
    Total8,53,65,851100.00%100.00%—

    Lumino Industries IPO comprises a total issue size of 8,53,65,851 shares. The net offer to the public is 8,41,46,339 shares, after excluding 12,19,512 shares under a preferential allotment. Of the Net offer 4,20,73,169 (50.00%) are allocated to QIB , 1,26,21,951 (15.00%) allocated to NII 2,94,51,219 (35.00%) allocated to RII .

    IPO Lot Size

    ApplicationLotsSharesAmount
    Retail (Min)1182₹14,924
    Retail (Max)132366₹1,94,012
    S-HNI (Min)142548₹2,08,936
    S-HNI (Max)6712194₹9,99,908
    B-HNI (Min)6812376₹10,14,832

    Investors can bid for a minimum of 182 shares and in multiples thereof.

    IPO Subscription Details

    IPO Anchor Investors

    Bid DateTue, Aug 25, 2026
    Shares Offered2,52,43,901
    Anchor Portion (₹ Cr.)207.00
    Anchor lock-in period end date for 50% shares (30 Days)Thu, Oct 1, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Mon, Nov 30, 2026

    Lumino Industries IPO raises ₹ 207.00 crore from anchor investors . Lumino Industries IPO Anchor bid date is August 25, 2026 .

    IPO Anchor Investors List

    Investor Category Reservations

    CategoryLimitCut-off
    RIIUp to ₹2 LakhsYes
    sNII₹2 Lakhs – ₹10 LakhsNo
    bNIIAbove ₹10 LakhsNo
    Employee (EMP)Up to ₹5 LakhsYes
    Employee + RII/NIIUp to ₹5Lakhs (EMP) + RII/NII limitsYes (EMP/RII)

    About Lumino Industries Ltd.

    Incorporated in 2005, Lumino Industries Ltd. is an integrated engineering, procurement and construction (EPC) company in India, with a focus on manufacturing and supplying conductors, power cables, electrical wires and specialised products for the power transmission and distribution industry.

    The Company also manufactures high-temperature low-sag (HTLS) conductors used in transmission and distribution lines.

    The Company operates through two key segments: Manufacturing and EPC. Its manufacturing business covers aluminium conductors, power cables and electrical wires, while its EPC business includes power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management projects.

    Lumino Industries supplies its products to major EPC players in India and also serves international customers, including government-owned electricity companies, public enterprises and electricity boards across countries such as the USA, Mali, Burkina Faso, C&ocirc;te d'Ivoire, Nepal, Bangladesh, Kenya, Ghana, Rwanda and Ethiopia.

    As of March 31, 2026, the Company had 890 permanent employees.

    Company Financials (Restated Consolidated)

    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets2,174.881,718.661,175.44
    Total Income2,089.311,946.681,424.63
    Profit After Tax160.00124.5986.61
    EBITDA238.95222.94145.09
    NET Worth729.58570.29445.86
    Reserves and Surplus606.16446.66413.86
    Total Borrowing384.16418.8340.91
    Amount in ₹ Crore

    Lumino Industries Ltd.'s revenue increased by 7% and profit after tax (PAT) rose by 28% between the financial year ending with March 31, 2026 and March 31, 2025.

    Note:-

    Operating EBITDA is given.

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    IPO Objects of the Issue

    #Issue ObjectsEst Amt (₹ Cr.)
    1Prepayment or re-payment, in full or in part,of certain outstanding borrowings availed by Company337.00
    2Capital expenditure by Company for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility15.01
    3General corporate purposes110.58
    4Issue Expenses52.28
    Total514.87

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026Mar 31, 2025
    ROE24.62%24.52%
    ROCE25.75%31.89%
    Debt/Equity0.530.73
    RoNW24.62%24.52%
    PAT Margin7.66%6.40%
    EBITDA Margin11.71%11.62%
    NAV29.9523.41
    Price to Book Value2.743.50

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)6.575.25
    P/E (x)12.4815.62
    Market Cap at Offer Price₹1,997Cr.₹3,359.84 Cr

    Disclaimer

    The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.

    The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

    Shareholding Structure

    CategoryPre IPOPost IPO
    Promoter and Promoter Group100%71.97%
    Public—28.03%
    Total100%100%

    Company Promoters: Purushottam Dass Goel, Devendra Goel and Jay Goel.

    Offer For Sale - Selling Shareholders

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    Devendra GoelPromoter1,82,92,682150.00
    Jay GoelPromoter60,97,56050.00
    Total—2,43,90,242200.00

    Lumino Industries IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers12100
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)232.791,68,29,2683,91,76,11,516
    NII185.211,26,21,9512,33,77,12,286
    bNII (> ₹10L)201.9084,14,6341,69,89,36,512
    sNII (< ₹10L)151.8242,07,31763,87,75,774
    Retail40.272,94,51,2191,18,59,81,342
    Employee12.3712,19,5121,50,80,884
    Total124.026,01,21,9507,45,63,86,028

    The Lumino Industries IPO is subscribed 124.02 times on August 31, 2026 6:53:37 PM (Day 3). The public issue subscribed 40.27 times in the retail category, 232.79 times in the QIB category, and 185.21 times in the NII category. Check Day by Day Subscription Details (Live Status)

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    Total Applications: 58,48,594

    IPO Expenses

    #Issue ExpensesEst Amt (₹ Cr.)
    1Fees and commissions payable to the BRLMs (including any underwriting commission, brokerage and selling commission24.85
    2Advertising and marketing expenses3.71
    3Fees payable to the Registrar to the Offer1.50
    4Commission and processing fees for SCSBs and Bidding Charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs3.12
    5Printing and distribution of issue stationery0.62
    6Listing fees, SEBI filing fees, book building software fees, NSDL and CDSL fee and other regulatory expenses9.30
    7Fees payable to the Statutory Auditor, industry service provider and RoC consultant1.49
    8Fees payable to the Intermediaries1.33
    9Fees payable to the legal counsels to the Offer4.85
    10Miscellaneous1.50
    Total52.28

    Listing Day Trading Information

    Price DetailsBSENSE
    Final Issue Price₹ 82.00₹ 82.00
    Open₹ 109.00₹ 110.00
    Low₹ 106.48₹ 106.54
    High₹ 119.00₹ 118.99
    Last Trade₹ 110.39₹ 110.32

    Check IPO Performance…

    IPO Registrar

    Bigshare Services Pvt.Ltd.

    8657578989/8069219065/8069219060

    ipo@bigshareonline.com

    IPO Lead Manager(s)

    Motilal Oswal Investment Advisors Ltd.

    JM Financial Ltd.

    Monarch Networth Capital Ltd.

    Contact Details

    Lumino Industries Ltd. Address

    Unit No – 12/4,

    Merlin Acropolis

    1858/1 Rajdanga Main Road,

    Kolkata, West Bengal , 700107

    +91 33 2441 2008

    investor.relation@luminoindustries.com

    Lumino Industries IPO in the news

    Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.

    Trilegal advises Lumino Industries on ₹700 crore IPO

    Bar and Bench · 7 Sept 2026

    Lumino Industries share price extends gains after a stellar IPO listing, up 41.5% from issue price: Should you buy?

    Livemint · 4 Sept 2026

    Lumino Industries Makes Strong Stock Market Debut, IPO Investors Gain 34.62%

    Hindusthan Samachar English · 3 Sept 2026

    Lumino Industries IPO Lists 34% Higher: Book Listing Gains Or Hold For Long-Term Returns?

    Business Today · 3 Sept 2026

    Lumino Industries IPO listing: Shares make debut at 34% premium, lists at Rs.110 per share

    TradingView · 3 Sept 2026

    Lumino Industries Lists At 34% Premium After 118x Subscribed IPO

    BW Businessworld · 3 Sept 2026