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Lumino Industries IPOLISTED
Lumino Industries Ltd. is an integrated EPC company manufacturing conductors, power cables, electrical wires and specialised products for the power transmission and distribution industry.
Listing price
₹110
Listing gain
+34.15%
Current
₹110
Listed
03 Sept 26
Opens
27 Aug 26Closes
31 Aug 26Allotment
01 Sept 26Refund
02 Sept 26Demat
02 Sept 26Listing
03 Sept 26Listed at
₹110
+34.15% on 03 Sept 26
Overview
Price band
₹78-82
Lot size
182 shares
Min. investment
₹14,924
Issue size
₹700.00 Cr
8.54 Cr shares
Fresh issue
₹500 Cr
6.10 Cr shares
Offer for sale
₹200 Cr
2.44 Cr shares
Face value
₹5 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 2,52,43,901 | 29.57% |
| QIB | 1,68,29,268 | 19.71% |
| NII (HNI) | 1,26,21,951 | 14.79% |
| B-HNI | 84,14,634 | 9.86% |
| S-HNI | 42,07,317 | 4.93% |
| Individual | 2,94,51,219 | 34.5% |
| Employee | 12,19,512 | 1.43% |
| Total | 8,53,65,851 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 182 | ₹14,924 |
| Retail (Max) | 13 | 2,366 | ₹1,94,012 |
| S-HNI (Min) | 14 | 2,548 | ₹2,08,936 |
| S-HNI (Max) | 67 | 12,194 | ₹9,99,908 |
| B-HNI (Min) | 68 | 12,376 | ₹10,14,832 |
Listing performance
NSE/BSE: LUMINOListing gain
+34.15%
Gain per retail lot
₹5,096
Latest vs issue
—
GMP was
₹55 (+67.07%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Lumino Industries Live GMP
Latest GMP
₹55
All-time high
₹61
All-time low
₹46
Subscription
01 Sept, 12:00 amOversubscribed 118.79 times · 56,05,166 applications
Total applications
56,05,166
Total bid amount
₹58,562 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 1,68,29,268 | 3,73,85,48,632 | 222.15x | ₹30,656 Cr |
| NII (HNI) | 1,26,21,951 | 2,24,78,91,646 | 178.09x | ₹18,433 Cr |
| B-HNI | 84,14,634 | 1,63,80,07,826 | 194.66x | ₹13,432 Cr |
| S-HNI | 42,07,317 | 60,98,83,820 | 144.96x | ₹5,001 Cr |
| Retail | 2,94,51,219 | 1,14,05,43,040 | 38.73x | ₹9,352 Cr |
| Employee | 12,19,512 | 1,47,20,888 | 12.07x | ₹121 Cr |
| Total | 6,01,21,950 | 7,14,17,04,206 | 118.79x | ₹58,562 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 3,302 | 1,30,178 | 39.42x |
| S-HNI | 1,651 | 2,28,941 | 138.67x |
| Retail | 1,61,820 | 51,79,657 | 32.01x |
| Employee | 0 | 58,227 | — |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
24.62%
PAT Margin
7.66%
ROCE
25.75%
EBITDA Margin
11.71%
Debt to Equity Ratio
0.53
Price to Book Value
2.74
RoNW
24.62%
Valuation vs listed peers
EPS Pre IPO
₹6.57
EPS Post IPO
₹5.25
P/E Pre IPO
12.48
P/E Post IPO
15.62
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Apar Industries Limited | 68.98 | — | — | — |
| Bajel Projects Limited | 108.66 | — | — | — |
| Kalpataru Projects International Limited | 22.13 | — | — | — |
| KEC International Limited | 19.81 | — | — | — |
| KEI Industries Limited | 58.79 | — | — | — |
| Universal Cables Limited | 35.51 | — | — | — |
| Techno Electric & Engineering Company Limited | 25.97 | — | — | — |
Peer median P/E 35.5× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+46.7%
Profit growth FY24 → FY26
+84.7%
P/E vs peer median
15.6× vs 35.5×
- PAT margin 7.7% and ROCE 25.8%.
- Priced below its listed-peer median P/E.
Strengths & risks
- Integrated manufacturing and EPC business model.
- Diversified presence across power, solar and railway projects.
- Strong experience in conductors and power infrastructure.
- International presence and certified products.
- Growth opportunities from rising power sector investments.
Buzz score · Solid
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the Company. | 337 |
| Capital expenditure by the Company for the purchase of equipment and machinery, civil works, and interior development of an existing manufacturing facility. | 15.01 |
| General corporate purposes. | - |
Company & documents
Lumino Industries Ltd. is a product-driven integrated EPC company engaged in manufacturing and supplying aluminium conductors, power cables, electrical wires, and specialised products for the power transmission and distribution industry. It also manufactures high-temperature low-sag (HTLS) conductors used in transmission and distribution lines.
The Company operates in two key segments:
- Manufacturing: Its manufacturing business includes aluminium conductors, power cables, and electrical wires.
- EPC: Its EPC business covers power transmission, EHV substations, railway electrification, solar power, and water management projects.
The Company supplies its products to major EPC players and power utilities in India, including Kalpataru Projects International Limited, Jakson Limited, K.G.N. Electricals, WRSS XXI (A) Transco Limited, Monte Carlo Limited, R.S. Infraprojects Private Limited, Assam Power Distribution Company Limited, Purvanchal Vidyut Vitran Nigam Limited, West Bengal State Electricity Distribution Company Limited and Kashmir Power Distribution Corporation Limited.
Lumino Industries has manufacturing facilities in Howrah, West Bengal, with an annual capacity of 40,000 MT for manufacturing cables and conductors. It supplies products to major EPC companies, power utilities, and international customers across the USA, Mali, Burkina Faso, Côte d’Ivoire, Nepal, Bangladesh, Kenya, Ghana, Rwanda, and Ethiopia.
As of March 31, 2026, the Company had 890 permanent employees.
Registrar
Company contact
Lumino Industries Ltd.
Unit No – 12/4, Merlin Acropolis 1858/1 Rajdanga Main Road, Kolkata, West Bengal, 700107
Phone: +91 33 2441 2008
Book running lead managers
- JM Financial Ltd.
- Monarch Networth Capital Ltd.
- Motilal Oswal Investment Advisors Ltd.
Promoters
- Purushottam Dass Goel
- Devendra Goel
- Jay Goel