Lumino Industries Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹78 - ₹82
- Lot size
- 182 shares
- Issue amount
- ₹700 cr
- Total subscription
- 121.18×
- Opens
- 27 Aug 2026
- Closes
- 31 Aug 2026
- Allotment
- 1 Sept 2026
- Listing
- 3 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 8,53,65,851 shares
- Face value
- ₹5 per share
- Minimum investment
- ₹14,196
- Fresh issue
- ₹500 cr
- Offer for sale
- ₹200 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,924
- Issue type
- Bookbuilding IPO
- Shares before issue
- 24,35,78,096
- Shares after issue
- 3,04,55,37,055
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 182 | ₹14,924 |
| sHNI | 14 | 2,548 | ₹2,08,936 |
| bHNI | 68 | 12,376 | ₹10,14,832 |
Share reservation
Subscription & GMP
Subscription by category
Reported 31 Aug 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,61,820 | 51,79,673 |
| EMPLOYEES | 0 | 58,228 |
| HNIs(10L +) | 3,302 | 1,30,178 |
| HNIs (2-10L) | 1,651 | 2,28,941 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 138 | 30,656.1 |
| FIIs | 0 | 5,491.37 |
| FIs | 0 | 16,422.22 |
| Mutual Funds | 0 | 1,122.12 |
| Others | 0 | 9,088.76 |
| RETAIL | 241.5 | 9,766.21 |
| HNIs 2+ | 34.5 | 5,261.98 |
| HNIs 10+ | 69 | 13,931.58 |
| EMPLOYEES | 10 | 124.8 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 6.57 | 5.11 | 3.56 |
| ROE | 24.62 | 24.52 | 21.52 |
| ROCE | 25.75 | 31.89 | 32.27 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 12.48 | 0 | 0 |
| POST IPO(PE) | 15.62 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Lumino Industries Limited | 12.48 | 82.00 | 5.00 | 18.30 | 21.52 | 3.56 |
| Apar Industries Limited | 47.35 | 10042.50 | 10.00 | 964.35 | 27.01 | 212.10 |
| Bajel Projects Limited | 683.78 | 253.00 | 2.00 | 49.11 | 0.76 | 0.37 |
| Kalpataru Projects International Limited | 38.36 | 1203.45 | 2.00 | 254.79 | 13.24 | 31.37 |
| KEC International Limited | 73.38 | 989.95 | 2.00 | 147.96 | 9.53 | 13.50 |
| KEI Industries Limited | 63.96 | 4109.35 | 2.00 | 348.70 | 20.26 | 64.25 |
| Universal Cables Limited | 24.56 | 766.05 | 10.00 | 511.54 | 6.62 | 31.19 |
Company information
Company profile
Founded in 2005, Lumino Industries Limited is an engineering, procurement, and construction (EPC) company that manufactures and supplies products like conductors, power cables, electrical wires, and other components used in power distribution and transmission. The company focuses on high-performance products such as high-temperature low-sag (HTLS) conductors and serves sectors like power, industrial, renewable energy, and communication. It follows a product-driven model, handling design, manufacturing, and supply, with a large portion of its EPC project requirements produced in-house. Lumino also supplies to international clients, including government electricity companies in countries like the USA, Nepal, and Ghana, and operates its wire business through a network of distributors across multiple states in India. It has two manufacturing units in Howrah, West Bengal, along with warehouse facilities to support operations. The company operates in two main segments: manufacturing, where it produces aluminium conductors, power cables, and wires under the “Lumicon” brand, and EPC, where it executes projects such as power distribution, substations, railway electrification, and solar projects both in India and abroad.
Strengths
- Integrated Manufacturing Facilities: The company operates well-developed manufacturing facilities with a diverse product range, enabling efficient production of specialized, high-quality products for its EPC projects.
- Strong Strategic Partnerships: Strategic partnerships with leading international companies help combine advanced technologies with the company's engineering, project management, construction capabilities, and market expertise.
- Experienced Management & Skilled Workforce: The company is supported by experienced promoters and a skilled management team with over three decades of collective experience in the power infrastructure industry, along with strong customer relationships and industry knowledge.
Risk factors
- Raw Material Price & Supply Risk: Fluctuations in prices or disruptions in the supply of aluminium, steel, copper, XLPE, and PVC compounds could increase costs, delay projects, and impact financial performance.
- EPC Contract Acquisition Risk: EPC revenue depends on winning contracts through competitive bidding. Intense competition in the power transmission and distribution sector could affect order inflows, revenue, and cash flows.
- High Working Capital Requirement: The business requires significant working capital due to high trade receivables and inventory levels. Delays in customer payments or difficulty securing financing could affect liquidity and financial performance.
Promoters
Purushottam Dass Goel
Devendra Goel
Jay Goel
Registrar & documents
Lead manager
Jm Financial Limited, Monarch Networth Capital Limited, Motilal Oswal Investment Advisors Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Unit No – 12/4, Merlin Acropolis, 1858/1 Rajdanga Main Road, Kolkata, West Bengal, 700107
+91 33 2441 2008
[email protected]Company website ↗Understanding LUMINO IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.