IPO
EPC co. Lumino Industries’ Rs.700-Cr IPO subscribed 118 times
The INR 700-Cr initial public offering (IPO) of Kolkata-based conductors and power cables manufacturer Lumino Industries was subscribed 118.12 times. The Qualified Institutional Buyers (QIB) portion was subscribed 221.43 times, while the non-institutional investors (NII) segment saw a subscription of 176.42 times. The retail portion of the offering was subscribed 38.50 times. The company raised INR 207-Cr from anchor investors prior to the public issue.The IPO consisted of a fresh issue of INR 500-Cr and an offer for sale (OFS) of INR 200-Cr, with promoters Devendra Goel and Jay Goel participating as selling shareholders. The merchant bankers for the transaction are Motilal Oswal Investment Advisors, JM Financial, and Monarch Networth Capital.Lumino manufactures electrical equipment and provides engineering, procurement, and construction (EPC) services for power, railway, and water infrastructure sectors.The firm plans to use INR 337-Cr from the fresh issue proceeds for the repayment or prepayment of borrowings and INR 15.01-Cr for capital expenditure at its existing manufacturing facility.
For FY25, Lumino Industries had reported about INR 1,918 Cr in Operating Income and about INR 125 Cr in PAT.
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