Lumino Industries raises Rs 207 crore from anchor investors; IPO opens on August 27

Integrated engineering, procurement and construction (EPC) player Lumino Industries has announced that it has garnered Rs 206.99 crore from anchor investors ahead of its initial public offering (IPO), which will open for public subscription on Thursday, August 27, 2026. Through its maiden share sale, the company seeks to raise Rs 700 crore from the markets.

The company informed the bourses that it has allocated 25,243,901 equity shares at Rs 82 apiece to anchor investors. Some of the marquee institutions that participated in the anchor book include Citigroup Global Markets Mauritius Private Limited, SBI General Insurance Company Limited, Bajaj Life Insurance Limited, Silver Stride India Global Fund and 3PIM India Equity (IFSC) Fund, among others.

Among equity-oriented schemes, the company has allocated shares to HDFC Large and Mid Cap Fund, Motilal Oswal Large Cap Fund and Kotak Mahindra Trustee Co Ltd A/C Kotak Manufacture In India Fund, among others. Of the total 25,243,901 equity shares allocated to anchor investors, 18,071,114 shares were allotted to seven domestic mutual funds through 22 schemes.


Lumino Industries IPO details

Lumino Industries IPO comprises a fresh issue of 6.10 crore shares aggregating to Rs 500 crore and an offer for sale of 2.44 crore shares aggregating to Rs 200 crore. The offer is being made through the book-building process, wherein not more than 50% of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 15% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs).

The company has fixed the price band at Rs 78-82 per equity share, with a face value of Rs 5 each.

The public issue will open on Thursday, August 27, 2026, for subscription and close on Monday, August 31, 2026.

Investors can bid for a minimum of 182 equity shares and in multiples of 182 shares thereafter. Retail investors will need a minimum of Rs 14,924 to bid for one lot, or 182 shares, while Rs 1,94,012 is required to bid for a maximum of 13 lots, or 2,366 shares.

The basis of allotment of Lumino Industries shares is likely to be finalised on Tuesday, September 1, 2026. Successful allottees can expect the company’s shares to be credited to their demat accounts by Wednesday, September 2, 2026.

Lumino Industries shares are slated to make their debut on the bourses tentatively on Thursday, September 3, 2026.

Motilal Oswal Investment Advisors, JM Financial and Monarch Networth Capital are the book-running lead managers to the issue, while Bigshare Services Private Limited is the registrar.

The company said it will not receive any proceeds from the offer for sale, which will go to the selling promoters.

Of the proceeds from the fresh issue, Rs 337 crore will be utilised for the prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company. Another Rs 15 crore will be used for capital expenditure towards the purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility. The remaining proceeds will be used for general corporate purposes.

About Lumino Industries

Lumino Industries is an integrated engineering, procurement and construction (EPC) company in India, with a focus on manufacturing and supplying conductors, power cables, electrical wires and specialised products for the power transmission and distribution industry. The company also manufactures high-temperature low-sag (HTLS) conductors used in transmission and distribution lines.

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