Lumino Industries IPO allotment likely today: GMP signals 59% premium; here’s how to check status

The wait is almost over for investors in the Lumino Industries IPO. The basis of allotment for the Rs 700-crore public issue is expected to be finalised today, September 1, giving applicants a chance to find out whether they have secured shares. The company is scheduled to make its stock-market debut on the BSE and NSE on September 3.

Adding to investor interest, Lumino Industries’ grey market premium (GMP) is currently around 59%, pointing to expectations of a potentially strong listing, although GMP trends are unofficial and can change before the shares debut.

The IPO, which opened on August 27 and closed on August 31, drew massive investor demand, with the issue subscribed 124.02 times overall. The retail portion was subscribed 40.27 times, while NIIs put in bids for 185.21 times the shares on offer. QIBs led the subscription race with a staggering 232.79 times subscription.


The Rs 700-crore IPO was offered in a price band of Rs 78–Rs 82 per share. The issue comprised a fresh issue of Rs 500 crore, involving 6.10 crore shares, and an offer for sale (OFS) of Rs 200 crore, involving 2.44 crore shares sold by promoters Devendra Goel and Jay Goel.

The company's shares are expected to list on both the NSE and BSE on September 3, 2026.

At the IPO price band, Lumino Industries commands a price-to-earnings (P/E) multiple of 11.87 times at the lower end and 12.48 times at the upper end, based on diluted FY26 earnings.

Interestingly, the valuation looks relatively attractive against the FY26 industry peer-group average P/E of 48.55 times, according to the company's offer document.

Motilal Oswal Investment Advisors Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is the registrar.

Investors can verify their allotment through either of the following platforms:

1. Registrar’s Website - Bigshare Services

• Visit Lumino Industries Allotment page (https://ipo.bigshareonline.com/ipo_status.html)
• Select Skyways Air from the drop-down menu.
• Enter your PAN, application number, or DP/Client ID to view allotment details.

2. NSE Website (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Go to NSE IPO Allotment page
• Select Equity
• Choose Lumino Industries
• Enter your application number and PAN.

3.BSE Website ( https://www.bseindia.com/investors/appli_check)

• Select Equity under issue type.
• Select Lumino Industries from the dropdown.
• Enter your application number OR PAN number.
• And fill the captcha and click search to view allotment.

Ahead of the IPO, Lumino Industries raised Rs 206.99 crore from anchor investors on August 25, 2026. The company allotted 2,52,43,901 equity shares at Rs 82 apiece to 30 anchor investors.

Lumino Industries IPO GMP Today

The Lumino Industries IPO GMP is currently at Rs 48 per share, indicating a 59% premium over the upper IPO price of Rs 82. Based on the prevailing grey market premium, the estimated listing price works out to around Rs 130 per share, pointing to the possibility of a strong market debut if the current trend holds.

That said, investors should treat GMP as an unofficial market indicator, not a guarantee of listing performance. The premium can change rapidly depending on market sentiment and demand ahead of the listing. Actual listing gains may differ significantly from GMP-based estimates.

Lumino Industries IPO Proceeds

A substantial portion of the fresh issue proceeds is earmarked for reducing the company's debt. Lumino Industries plans to use approximately Rs 337 crore for the prepayment or repayment of certain outstanding borrowings.

The company also proposed spending around Rs 15.01 crore on capital expenditure, including equipment and machinery purchases, civil works, and interior development at an existing manufacturing facility. The remaining proceeds will be deployed towards general corporate purposes.

Lumino Industries' Financial Performance

The company reported an improvement in both revenue and profitability in FY26. Total income rose 7% to Rs 2,089.31 crore in FY26, compared with Rs 1,946.68 crore in FY25. More significantly, Profit After Tax increased 28% to Rs 160 crore, from Rs 124.59 crore in FY25.

The stronger growth in profit compared with total income points to an improvement in the company's earnings performance during the year.

About Lumino Industries

Established in 2005, Lumino Industries is an integrated engineering, procurement and construction (EPC) and manufacturing company focused on India's power transmission and distribution sector. The company manufactures conductors, power cables, electrical wires and high-temperature low-sag (HTLS) conductors, which are used in power transmission and distribution infrastructure.

Its EPC business covers power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management projects. The company caters to major EPC players in India and also serves international customers, including government-owned electricity companies, public enterprises and electricity boards across several countries. As of March 31, 2026, Lumino Industries had 890 permanent employees.

With the Rs 78–Rs 82 price band now set, the next major trigger for Lumino Industries will be anchor investor participation on August 25, followed by the response from retail and institutional investors when the IPO opens on August 27.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)