Lumino Industries, a prominent manufacturer and supplier of conductors, power cables, and specialized products for the transmission and distribution industry, is set to launch its Initial Public Offering (IPO) on August 27, 2026. The public subscription window will remain open until August 31, with the anchor book opening a day earlier on August 25.
IPO Price Band and Issue Size
The Kolkata-based company has fixed the price band for its shares at ₹78 to ₹82 per equity share. The total issue size is ₹700 crore, a reduction from the initial ₹1,000 crore planned when preliminary papers were filed with SEBI. At the upper end of the price band, Lumino Industries will command a market capitalization of ₹2,497 crore.
Issue Composition and Investor Allocation
The IPO comprises a fresh issue of shares worth ₹500 crore and an offer for sale (OFS) of shares totaling ₹200 crore by the promoters. A reservation of ₹10 crore worth of shares has been set aside for employees. Excluding this employee portion, 50% of the net issue is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and the remaining 15% for Non-Institutional Investors (NIIs).
Minimum Investment and Listing Date
Investors can bid for a minimum of 182 equity shares and in multiples thereof. For retail investors, the minimum investment at the upper price band would be ₹14,924, with a maximum investment cap of ₹1,94,012. Lumino Industries' shares are scheduled to be listed on both the BSE and NSE on Thursday, September 3.
Company Profile and Financial Performance
Lumino Industries operates two manufacturing facilities and four warehouses across India, supplying its specialized products to major EPC players like Kalpataru Projects International and Jackson. The company has demonstrated strong growth, with its order book standing at ₹3,149.8 crore as of March 2026, a significant increase from ₹2,436.2 crore in March 2025.
Financially, Lumino Industries reported a profit of ₹160 crore for fiscal year 2026, marking a 28.4% rise from ₹124.6 crore in the previous fiscal. Revenue from operations also grew by 6.4% to ₹2,041 crore from ₹1,918 crore.
Fund Utilisation Plans
From the net proceeds of the fresh issue, Lumino Industries plans to repay loans amounting to ₹337 crore out of its total outstanding borrowings of ₹1,856.7 crore. Additionally, ₹15 crore will be allocated for the purchase of equipment, machinery, civil works, and interior development at its existing manufacturing facility. The remaining funds will be utilized for general corporate purposes.
Merchant Bankers and Registrar
Motilal Oswal Investment Advisors, JM Financial, and Monarch Networth Capital are serving as the merchant bankers for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.