- Issue price
- ₹82per share
- Issue size
- ₹700 Cr8,53,65,851 shares
- Face value
- ₹5per equity share
- Lot size
- 182 sharesMin. ₹14,924 at the upper price
- Anchor biddingTue, 2026
- OpensThu, 2026
- ClosesMon, 2026
- AllotmentTue, 2026Refunds same day
- ListingThu, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 6,09,75,609 shares (₹500 Cr)
- Offer for sale
- 2,43,90,242 shares (₹200 Cr)
- Total issue
- 8,53,65,851 shares (₹700 Cr)
- Face value
- ₹5
- Listing at
- NSE, BSE
- Promoter holding
- 84.90% → 59.63%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail43.0%
- Anchor36.8%
- NII18.4%
- Employees1.8%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 2,94,51,219 | 42.97% | 35% |
| Non-institutional investors (NII) | 1,26,21,951 | 18.42% | 15% |
| Qualified institutional buyers (QIB) | 4,20,73,169 | 61.39% | 50% |
| Anchor investors | 2,52,43,901 | 36.83% | — |
| Employees | 12,19,512 | 1.78% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹82 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 182 | ₹14,924 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26, pre-issue- EPS (basic)
- ₹6.57
- EPS (diluted)
- ₹6.57
- P/E (FY 2025-26 at Cap Price)
- 12.48×
- RoNW
- 24.62%
- ROCE
- 25.75%
- NAV per share (As at March 31, 2026)
- ₹29.95
- NAV per share (After the Offer at Offer Price)
- ₹40.37
- Debt to equity
- 0.53
- EBITDA margin
- 11.71%
- PAT margin
- 7.66%
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|
| Revenue from operations | 2,041.07 | 1,917.97 | 1,407.32 |
| Total income | 2,089.31 | 1,946.68 | 1,424.63 |
| EBITDA | 238.95 | 222.94 | 145.09 |
| Profit after tax | 160.00 | 124.59 | 86.61 |
| Net worth | 729.71 | 570.45 | 445.97 |
| Reserves and surplus | 607.92 | 448.66 | 415.52 |
| Total assets | 2,174.88 | 1,718.66 | 1,175.44 |
| Total borrowing | 384.16 | 418.83 | 40.91 |
FY 2025-26 vs FY 2024-25: revenue +6.4%, profit after tax +28.4%.
Source: ProspectusUpdated
About the company
The company is a product-driven integrated EPC contractor that manufactures aluminium conductors, power cables and electrical wires. It serves power transmission and distribution projects, mainly for state electricity boards and public power utilities, and also supplies some international clients. It operates manufacturing units in Howrah, West Bengal.
- Incorporated
- 2005
- Industry
- Power EPC and Cables
- CIN
- U14293WB2005PLC102556
- Website
- luminoindustries.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue | Shares offered |
|---|---|---|---|
| Devendra Goel | 49.03% | 33.21% | 1,82,92,682 |
| Jay Goel | 35.54% | 26.42% | 60,97,560 |
| Purushottam Dass Goel | 0.33% | — | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Prepayment or repayment of certain outstanding borrowings | 337.00 |
| Capital expenditure for equipment, machinery, civil works and interiors at an existing manufacturing facility | 15.01 |
| General corporate purposes | 110.58 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Lumino Industries LimitedIssuer | ₹6.57 | — | 24.62% | ₹29.95 |
| Apar Industries Limited | ₹242.81 | 68.98× | 19.76% | ₹1,341.55 |
| Bajel Projects Limited | ₹1.74 | 108.66× | 0.98% | ₹64.61 |
| Kalpataru Projects International Limited | ₹60.9 | 22.13× | 15.80% | ₹438.28 |
| KEC International Limited | ₹22.75 | 19.81× | 11.10% | ₹219.8 |
| KEI Industries Limited | ₹96.02 | 58.79× | 14.76% | ₹697.07 |
| Universal Cables Limited | ₹47.01 | 35.51× | 8.91% | ₹544.62 |
| Techno Electric & Engineering Company Limited | ₹40.74 | 25.97× | 12.00% | ₹357.43 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Integrated model combining in-house manufacturing of conductors and cables with EPC project execution.
- Order book of about ₹31,499 million as at March 31, 2026, split across manufacturing and EPC.
- Over three decades of experience in power transmission and distribution.
- Installed manufacturing capacity of 40,000 MT per year across two units in Howrah.
- Holds UL certification that supports sales to clients in the US and Europe.
Risks
- Over half of FY2026 revenue from operations came from government entities, and losing tenders from them could hurt the business.
- Revenue depends on large EPC clients and state power utilities, and receivables and inventories are large relative to earnings.
- Substantial borrowings and reliance on short-term working capital facilities and vendor financing.
- Fresh Issue proceeds are not appraised by any bank or financial institution, and fund deployment may change.
- No prior public market exists for the shares, and the offer price may not reflect post-listing trading prices.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹82) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Lumino Industries IPO open and close?
According to the Prospectus, the issue opens on Thursday, 27 August 2026 and closes on Monday, 31 August 2026.
What is the Lumino Industries IPO price band?
The final issue price is ₹82 per share.
What is the lot size of the Lumino Industries IPO?
One lot is 182 shares, which is ₹14,924 at ₹82 per share.
Where will Lumino Industries shares list?
On NSE and BSE. The tentative listing date is Thursday, 3 September 2026.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How do I check the Lumino Industries IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 1 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (Bigshare Services Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹337 Cr for prepayment or repayment of certain outstanding borrowings, ₹15.01 Cr for capital expenditure for equipment, machinery, civil works and interiors at an existing manufacturing facility, ₹110.58 Cr for general corporate purposes.
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Spotted something wrong?
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