Lumino Industries IPO is a Mainboard Book Built public issue by Lumino Industries Limited. The public issue comprises a fresh issue of equity shares aggregating up to ₹500 crore and an Offer for Sale of equity shares aggregating up to ₹200 crore by existing selling shareholders. The total Lumino Industries IPO issue size is up to ₹700 crore. The company’s equity shares are proposed to be listed on both BSE and NSE.
Lumino Industries IPO Price has been fixed in the range of ₹78 to ₹82 per equity share. The IPO opens for subscription on 27 August 2026 and closes on 31 August 2026. Anchor investor bidding is scheduled for 25 August 2026. The basis of allotment is expected on 1 September 2026, while refunds and demat credit are scheduled for 2 September 2026. The proposed listing date is 3 September 2026.
Lumino Industries Limited is an engineering, procurement and construction company with more than three decades of experience in the power and energy sector. The company manufactures and supplies conductors, cables, electrical wires and other power-related products while also undertaking EPC projects.
The company’s product portfolio includes conductors, power cables, house wires and other electrical products used in power transmission, distribution, industrial applications and infrastructure projects. It also manufactures specialised high-temperature low-sag conductors used for power transmission and reconductoring applications.
Alongside manufacturing, Lumino Industries operates across power distribution and transmission, EHV substations, railway electrification, solar power projects and water management. This combination of manufacturing and EPC capabilities provides the company with exposure to several infrastructure and energy segments.
The company operates manufacturing facilities in Howrah, West Bengal, and serves customers across domestic and international markets. Its business is supported by long-standing experience in the power and energy sector and an integrated approach covering manufacturing and project execution.
India’s continued investment in power transmission and distribution, renewable energy, railway electrification and grid modernisation provides opportunities for companies operating in the electrical equipment and EPC sectors. Increasing electricity demand, expansion of renewable generation and the need to strengthen transmission infrastructure may support long-term industry growth.
However, the electrical products and EPC industry is competitive and capital intensive. Businesses can be affected by fluctuations in aluminium and other raw-material prices, project execution delays, working-capital requirements, customer concentration, tender competition and changes in infrastructure spending. Investors should carefully evaluate the company’s financial performance, valuation, debt position, business strategy and risk factors before making an investment decision.
IPO Details
| Information | Details |
|---|---|
| IPO Name | Lumino Industries IPO |
| Company Name | Lumino Industries Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹5 Per Equity Share |
| Price Band | ₹78 to ₹82 Per Share |
| Issue Size | ₹700 Crore |
| Fresh Issue | ₹500 Crore |
| Offer for Sale | ₹200 Crore |
| IPO Open Date | 27 August 2026 |
| IPO Close Date | 31 August 2026 |
| Anchor Investor Bidding | 25 August 2026 |
| Basis of Allotment | 1 September 2026 |
| Refund Initiation | 2 September 2026 |
| Shares Credited to Demat Account | 2 September 2026 |
| Listing Date | 3 September 2026 |
| Listing Exchange | BSE & NSE |
| Lot Size | 182 Equity Shares |
| Retail Minimum Investment | ₹14,924 |
| Retail Maximum Investment | ₹1,94,012 |
| S-HNI Minimum Investment | ₹2,08,936 |
| S-HNI Maximum Investment | ₹9,99,908 |
| B-HNI Minimum Investment | ₹10,14,832 |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Managers | Motilal Oswal Investment Advisors Limited, JM Financial Limited and Monarch Networth Capital Limited |
The company intends to utilise the net proceeds from the fresh issue primarily towards repayment or prepayment of certain outstanding borrowings and capital expenditure. Approximately ₹337 crore is proposed for repayment or prepayment of certain borrowings, while approximately ₹15.01 crore is proposed for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility. The balance is proposed for general corporate purposes.
The proceeds from the Offer for Sale will be received by the respective selling shareholders and will not accrue to Lumino Industries.
Lumino Industries IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 25 August 2026 |
| IPO Opening Date | 27 August 2026 |
| IPO Closing Date | 31 August 2026 |
| Basis of Allotment | 1 September 2026 |
| Refund Initiation | 2 September 2026 |
| Shares Credited to Demat Account | 2 September 2026 |
| Listing Date | 3 September 2026 |
The Lumino Industries IPO Allotment Status is expected to be finalised on 1 September 2026. Successful applicants are expected to receive shares in their demat accounts on 2 September 2026 before the proposed stock exchange listing on 3 September 2026.
Lumino Industries IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not Less Than 50% |
| Non-Institutional Investors (NII) | Not More Than 15% |
| Retail Individual Investors (RII) | Not More Than 35% |
The final allocation to each investor category will depend on the number of valid applications received during the IPO subscription period and applicable allocation rules.
Lumino Industries IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 182 Shares | ₹14,924 |
| Retail Maximum | 13 Lots | 2,366 Shares | ₹1,94,012 |
| S-HNI Minimum | 14 Lots | 2,548 Shares | ₹2,08,936 |
| S-HNI Maximum | 67 Lots | 12,194 Shares | ₹9,99,908 |
| B-HNI Minimum | 68 Lots | 12,376 Shares | ₹10,14,832 |
The application amounts shown above are calculated using the upper Lumino Industries IPO Price of ₹82 per equity share.
About Lumino Industries Limited
Lumino Industries Limited was incorporated in 2005 and has developed into an integrated power and energy company with manufacturing and EPC capabilities.
The company manufactures a wide range of electrical products, including conductors, power cables and wires. Its products are used in power transmission and distribution, industrial applications, infrastructure development and renewable energy projects.
Lumino Industries also manufactures specialised high-temperature low-sag conductors. These products can be used for reconductoring existing transmission lines where additional power-carrying capacity is required without replacing the complete transmission infrastructure.
The company has manufacturing operations in Howrah, West Bengal, and serves customers in India as well as international markets. Its product and project capabilities allow it to participate in both equipment supply and infrastructure execution.
The company has also expanded its EPC activities into areas such as power transmission and distribution, EHV substations, railway electrification, solar power projects and water management.
This combination of manufacturing and EPC services provides Lumino Industries with exposure to the broader power and infrastructure value chain.
Business Operations
Lumino Industries operates through manufacturing and EPC activities across several infrastructure segments.
- Conductors – The company manufactures conductors used in power transmission and distribution networks.
- HTLS Conductors – It produces high-temperature low-sag conductors for transmission capacity enhancement and reconductoring applications.
- Power Cables – The company manufactures power cables used across electricity distribution, industrial and infrastructure projects.
- House Wires – It manufactures electrical wires for building and electrical applications.
- Power Transmission & Distribution – The company undertakes EPC projects associated with power transmission and distribution infrastructure.
- EHV Substations – It executes projects involving extra-high-voltage substations and related electrical infrastructure.
- Railway Electrification – The company participates in railway electrification projects and associated electrical infrastructure.
- Solar Power Projects – Lumino Industries undertakes EPC-related activities for solar power projects.
- Water Management – The company also has EPC capabilities in water management and related infrastructure.
- Re-conductoring – Its HTLS conductor capabilities support projects aimed at improving the capacity of existing transmission lines.
Industry Overview
India’s power and electrical infrastructure industry continues to benefit from rising electricity consumption, expansion of renewable energy, electrification and increasing investments in transmission and distribution networks.
The growth of renewable power generation is creating additional requirements for transmission infrastructure because renewable projects are often located away from major electricity consumption centres. This increases the need for transmission lines, substations and related electrical equipment.
The modernisation of India’s electricity distribution network also creates opportunities for manufacturers of conductors, cables, wires and electrical equipment.
Reconductoring is another potential growth area. Existing transmission corridors can require capacity upgrades as electricity demand increases. HTLS conductors can help improve transmission capacity while making use of existing transmission infrastructure.
Railway electrification also remains an important infrastructure opportunity. The expansion of electrified railway networks creates demand for electrical equipment, EPC contractors and supporting infrastructure.
Renewable energy development provides another long-term opportunity. Solar capacity expansion requires electrical infrastructure for generation, evacuation and grid integration.
Despite these opportunities, the industry faces risks from commodity-price fluctuations, particularly aluminium and other metals used in electrical products. EPC businesses can also face project delays, tender competition, working-capital requirements and customer payment delays.
Business Strategy
Lumino Industries focuses on expanding its integrated manufacturing and EPC capabilities in the power and energy sector.
The company aims to strengthen its manufacturing capacity and product portfolio while continuing to participate in large infrastructure projects.
Its manufacturing capabilities allow the company to supply conductors, cables and wires, while its EPC business enables it to participate in project execution across power transmission, distribution and other infrastructure segments.
The company also seeks opportunities in specialised areas such as HTLS conductors, railway electrification, solar power projects and EHV substations.
The IPO’s capital expenditure component is intended to support the purchase of equipment and machinery as well as civil works and interior development at an existing manufacturing facility.
Debt reduction is another significant part of the IPO strategy. The company plans to use approximately ₹337 crore of the fresh issue proceeds towards repayment or prepayment of certain outstanding borrowings.
Reducing debt can help strengthen the company’s balance sheet and potentially reduce finance costs, although the company’s future financial performance will continue to depend on business growth, margins and working-capital management.
Lumino Industries IPO Financial Information
A company’s financial performance provides important information about revenue growth, profitability, assets, net worth and borrowing levels.
Lumino Industries reported total income of ₹1,424.63 crore in FY2024, ₹1,946.68 crore in FY2025 and ₹2,089.31 crore in FY2026.
Profit After Tax increased from ₹86.61 crore in FY2024 to ₹124.59 crore in FY2025 and ₹160.00 crore in FY2026.
EBITDA increased from ₹145.09 crore in FY2024 to ₹222.94 crore in FY2025 and ₹238.95 crore in FY2026.
Net worth increased from ₹445.86 crore in FY2024 to ₹570.29 crore in FY2025 and ₹729.58 crore in FY2026.
Total borrowings were ₹384.16 crore in FY2026 compared with ₹418.83 crore in FY2025.
Lumino Industries Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹1,424.63 Crore | ₹1,946.68 Crore | ₹2,089.31 Crore |
| EBITDA | ₹145.09 Crore | ₹222.94 Crore | ₹238.95 Crore |
| Profit After Tax (PAT) | ₹86.61 Crore | ₹124.59 Crore | ₹160.00 Crore |
| Net Worth | ₹445.86 Crore | ₹570.29 Crore | ₹729.58 Crore |
| Total Assets | ₹1,175.44 Crore | ₹1,718.66 Crore | ₹2,174.88 Crore |
| Total Borrowings | ₹40.91 Crore | ₹418.83 Crore | ₹384.16 Crore |
| EPS | ₹3.56 | ₹5.11 | ₹6.57 |
The company reported strong growth in total income and profitability during the three-year period.
Total income increased from ₹1,424.63 crore in FY2024 to ₹2,089.31 crore in FY2026. PAT increased from ₹86.61 crore to ₹160 crore over the same period.
EBITDA also increased substantially, reflecting growth in the company’s operating scale.
Net worth increased to ₹729.58 crore in FY2026, while total borrowings reduced from ₹418.83 crore in FY2025 to ₹384.16 crore in FY2026.
The proposed IPO debt repayment could further reduce the company’s borrowing burden, subject to the actual utilisation of the issue proceeds.
Lumino Industries IPO Key Performance Indicators (KPIs)
| KPI | FY2026 Value |
|---|---|
| Return on Equity (ROE) | 24.62% |
| Return on Capital Employed (ROCE) | 25.75% |
| Return on Net Worth (RoNW) | 24.62% |
| EBITDA Margin | 11.71% |
| PAT Margin | 7.66% |
| Debt-to-Equity Ratio | 0.53 |
| Earnings Per Share (EPS) | ₹6.57 |
| Post-Issue EPS | ₹5.25 |
| Net Asset Value (NAV) Per Share | ₹29.95 |
| P/E Ratio at Upper Price Band | 15.62x |
The company’s FY2026 ROE and RoNW were 24.62%, while ROCE stood at 25.75%.
The EBITDA margin was 11.71% and PAT margin was 7.66%.
The FY2026 EPS was ₹6.57 on a pre-issue basis. Based on the expected post-issue share capital, the post-issue EPS is approximately ₹5.25.
At the upper Lumino Industries IPO Price of ₹82, the post-issue P/E ratio is approximately 15.62 times based on the post-issue EPS.
The company’s NAV was approximately ₹29.95 per share.
Investors should compare these valuation indicators with listed companies in the electrical equipment, cables, conductors and EPC sectors before making an investment decision.
Objects of the Lumino Industries IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Repayment or prepayment, in full or in part, of certain outstanding borrowings.
- Capital expenditure for purchase of equipment and machinery.
- Civil works and interior development of an existing manufacturing facility.
- General corporate purposes.
Approximately ₹337 crore is proposed for repayment or prepayment of certain outstanding borrowings.
Approximately ₹15.01 crore is proposed for capital expenditure, including purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility.
The remaining amount is intended for general corporate purposes after considering applicable issue expenses and other adjustments.
The Offer for Sale component of ₹200 crore will be received by the selling shareholders and will not accrue to the company.
Lumino Industries IPO Listing Performance
Lumino Industries IPO is proposed to list on BSE and NSE on 3 September 2026.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | 3 September 2026 |
| Issue Price | To be finalised within ₹78–₹82 |
| Listing Price | To be updated after listing |
| Listing Gain | To be updated after listing |
| Listing Gain (%) | To be updated after listing |
The actual listing price will depend on market conditions, IPO subscription, investor sentiment and demand for the company’s shares.
Investors should not treat grey-market indications as a guarantee of listing performance. Long-term returns will depend on the company’s revenue growth, profitability, debt reduction, manufacturing expansion, order execution and overall business performance.
Lumino Industries IPO Subscription Status
Lumino Industries IPO opens for subscription on 27 August 2026 and closes on 31 August 2026.
The subscription figures will indicate the level of investor participation across QIB, NII and retail categories.
Lumino Industries IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Employee Category | Not Applicable |
| Total Subscription | To be updated |
The final Lumino Industries IPO Subscription Status will be available after the IPO closes.
Lumino Industries IPO GMP
Lumino Industries IPO GMP is an unofficial indicator of grey-market sentiment and is not regulated or guaranteed by SEBI, BSE or NSE.
The reported grey-market premium has been positive ahead of the IPO, but GMP figures can change significantly during the subscription period.
Investors should therefore treat Lumino Industries IPO GMP only as an informal market indicator rather than a guaranteed listing price or return.
A grey-market premium does not reflect the company’s actual financial performance and can change because of market sentiment, demand, broader market conditions and expected listing trends.
Investors should give greater importance to the Lumino Industries IPO Price, financial performance, valuation, debt position, business model, industry outlook and risk factors before making an investment decision.
Lumino Industries IPO Review
Lumino Industries IPO provides investors with an opportunity to participate in an established power and energy company with manufacturing and EPC capabilities.
The company has more than three decades of experience in the power and energy sector and operates across conductors, cables, wires, power transmission and distribution and specialised electrical infrastructure.
Its product portfolio includes conductors, power cables, house wires and HTLS conductors. These products are used in power transmission, distribution, industrial applications and infrastructure projects.
The company’s HTLS conductor business provides exposure to reconductoring opportunities. As electricity demand increases, transmission networks may require capacity enhancement, creating potential demand for specialised conductors.
Lumino Industries also operates an EPC business covering EHV substations, power distribution and transmission, railway electrification, solar power projects and water management.
This diversified business model gives the company exposure to several infrastructure segments rather than relying exclusively on one product category.
The financial performance has shown strong improvement. Total income increased from ₹1,424.63 crore in FY2024 to ₹2,089.31 crore in FY2026.
PAT increased from ₹86.61 crore to ₹160 crore during the same period. EBITDA increased from ₹145.09 crore to ₹238.95 crore.
The company also strengthened its net worth, which increased from ₹445.86 crore in FY2024 to ₹729.58 crore in FY2026.
Another important aspect of the IPO is the proposed use of funds. Approximately ₹337 crore of the fresh issue proceeds will be used for repayment or prepayment of outstanding borrowings.
Debt reduction could strengthen the company’s balance sheet and reduce finance costs, although investors should monitor the company’s future borrowing requirements as its operations expand.
The company also plans to spend approximately ₹15.01 crore on equipment, machinery and development of an existing manufacturing facility.
India’s long-term power infrastructure requirements provide a favourable operating environment for manufacturers of conductors, cables and electrical products.
Growing renewable energy capacity is increasing the need for transmission infrastructure, while distribution modernisation and electrification are creating additional opportunities.
Railway electrification and infrastructure development also provide potential EPC opportunities.
However, investors should consider the company’s risks.
The manufacturing business is exposed to fluctuations in aluminium and other raw-material prices. Changes in commodity prices can affect margins if increases cannot be passed on to customers.
The EPC business is exposed to execution delays, tender competition, project cost overruns and working-capital requirements.
The company also operates in competitive markets where established players have significant manufacturing capacity and customer relationships.
The Offer for Sale component of ₹200 crore means a portion of the IPO proceeds will go to selling shareholders rather than the company.
At the upper price band of ₹82, the post-issue P/E is approximately 15.62 times based on FY2026 post-issue EPS.
Overall, Lumino Industries has an established operating history, diversified exposure to power and infrastructure, improving financial performance and an IPO plan focused significantly on debt reduction.
Investors should nevertheless evaluate the company’s valuation, debt position, raw-material exposure, customer concentration, competitive environment, EPC execution risks and future growth prospects before investing.
Lumino Industries IPO Strengths
- More than three decades of experience in the power and energy sector.
- Integrated manufacturing and EPC business model.
- Diversified product portfolio covering conductors, cables and wires.
- Exposure to power transmission and distribution infrastructure.
- Presence in specialised HTLS conductor products.
- Opportunities from reconductoring of existing transmission networks.
- EPC capabilities in EHV substations and power infrastructure.
- Exposure to railway electrification projects.
- Presence in solar power projects.
- Experience in water management projects.
- Manufacturing presence in Howrah, West Bengal.
- Strong revenue growth over FY2024–FY2026.
- PAT increased significantly over the same period.
- Strong improvement in net worth.
- Healthy ROE and ROCE.
- Proposed IPO proceeds include significant debt repayment.
- Capital expenditure planned for machinery and manufacturing facility development.
- Exposure to India’s long-term power infrastructure requirements.
- Potential growth from renewable energy and grid modernisation.
Lumino Industries IPO Risk Factors
- The company operates in a competitive electrical equipment and EPC market.
- Fluctuations in aluminium and other raw-material prices can affect margins.
- EPC projects are exposed to execution delays and cost overruns.
- Working-capital requirements can be significant.
- Delayed customer payments may affect cash flows.
- Infrastructure spending and project awards can influence revenue growth.
- Competition may place pressure on product and project margins.
- Changes in electricity-sector regulations may affect business operations.
- Large infrastructure projects may require substantial capital.
- Customer concentration may create business risks.
- The company operates in capital-intensive manufacturing segments.
- Changes in renewable-energy and infrastructure policies could affect demand.
- International business exposes the company to additional market and currency-related risks.
- The company had significant borrowings before the IPO.
- Future expansion may require additional debt or capital.
- A portion of the IPO is an Offer for Sale and will not accrue to the company.
- EPC projects may experience delays due to approvals, supply constraints or other execution issues.
- Commodity-price volatility may affect profitability.
- The electrical products market has several established competitors.
- Future financial performance may differ from historical performance.
Lumino Industries IPO Promoters
The promoters of Lumino Industries Limited are Purushottam Dass Goel, Devendra Goel and Jay Goel.
Purushottam Dass Goel is the Non-Executive Chairman of the company. Devendra Goel serves as Managing Director, while Jay Goel is the Whole-Time Director.
The promoter and promoter group held 100% of the company’s share capital before the IPO. After the issue, promoter and promoter group holding is expected to reduce to approximately 71.97%.
The Offer for Sale includes shares offered by promoter selling shareholders, including Devendra Goel and Jay Goel.
Lumino Industries IPO Promoters Details
| Promoter | Designation |
|---|---|
| Purushottam Dass Goel | Chairman & Non-Executive Director |
| Devendra Goel | Managing Director |
| Jay Goel | Whole-Time Director |
The promoter and promoter group held 24,35,78,096 equity shares before the IPO.
Lumino Industries IPO Management Team
Lumino Industries is led by an experienced management team with expertise in manufacturing, business development, finance, administration and corporate governance.
| Name | Designation |
|---|---|
| Purushottam Dass Goel | Chairman & Non-Executive Director |
| Devendra Goel | Managing Director |
| Jay Goel | Whole-Time Director |
| Hemant Bhuwania | Chief Financial Officer |
| Vivek Jain | Company Secretary & Compliance Officer |
| Hemant Sultania | Independent Director |
| Amitabh Mathur | Independent Director |
| Shalu Laxmanraj Bhandari | Independent Director |
Devendra Goel has been associated with the company since 2005 and oversees marketing, financial and administrative functions.
Jay Goel has been associated with the company since 2018 and is responsible for operations and business development functions.
Lumino Industries IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, coordinating refunds, crediting shares to successful applicants and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | https://ipo.bigshareonline.com |
| IPO Allotment Status | https://ipo.bigshareonline.com/IPO_Status.html |
| Contact Number | +91 22 6263 8200 |
| Email ID | [email protected] |
Lumino Industries IPO Lead Manager Details
The Book Running Lead Managers are responsible for managing the IPO process, coordinating regulatory requirements and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Managers | Motilal Oswal Investment Advisors Limited, JM Financial Limited and Monarch Networth Capital Limited |
| Motilal Oswal Contact | +91 22 7193 4380 |
| JM Financial Contact | +91 22 6630 3030 |
| Monarch Networth Capital Contact | +91 22 6647 6400 |
Lumino Industries Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Lumino Industries Limited |
| Registered & Corporate Office | Unit No. 12/4, Merlin Acropolis, 1858/1 Rajdanga Main Road, Kolkata – 700107, West Bengal |
| Website | https://luminoindustries.com |
| Investor Grievance Contact | Vivek Jain |
| Email ID | [email protected] |
| Contact Number | +91 33 2441 2008 / 2009 |
How to Check Lumino Industries IPO Allotment Status
Investors can check the Lumino Industries IPO Allotment Status after the basis of allotment is finalised through the registrar’s website or stock exchange facilities.
Through Bigshare Services Private Limited
- Visit the Bigshare IPO allotment facility.
- Select Lumino Industries IPO from the IPO list.
- Choose PAN Number, Application Number or DP/Client ID.
- Enter the required details.
- Submit the information to view the allotment status.
Through BSE
- Visit the official BSE IPO application status facility.
- Select the relevant IPO.
- Enter the PAN Number or application details.
- Complete the required verification.
- Submit the details to check the allotment status.
Through NSE
- Visit the official NSE IPO bid verification facility.
- Select the relevant IPO.
- Enter the required application details.
- Complete the verification process.
- Submit the details to view the application status.
The Lumino Industries IPO Allotment is expected on 1 September 2026. Refunds and demat credit are scheduled for 2 September 2026, followed by the proposed listing on 3 September 2026.
Lumino Industries IPO Conclusion
Lumino Industries IPO provides investors with an opportunity to invest in an established power and energy company with manufacturing and EPC capabilities.
The company has more than three decades of experience and operates across conductors, cables, electrical wires, power transmission and distribution, EHV substations, railway electrification, solar projects and water management.
Its integrated manufacturing and EPC model provides exposure to multiple parts of the power and infrastructure value chain.
The company’s financial performance has improved significantly over the last three financial years. Total income increased from ₹1,424.63 crore in FY2024 to ₹2,089.31 crore in FY2026, while PAT increased from ₹86.61 crore to ₹160 crore.
EBITDA increased from ₹145.09 crore to ₹238.95 crore during the same period, and net worth increased to ₹729.58 crore.
The IPO’s significant debt-repayment component is an important feature. Approximately ₹337 crore of the fresh issue proceeds is proposed to be used for repayment or prepayment of outstanding borrowings.
The company also intends to invest approximately ₹15.01 crore in equipment, machinery and development of an existing manufacturing facility.
At the upper price band of ₹82, the post-issue P/E is approximately 15.62 times based on FY2026 post-issue EPS.
However, investors should consider raw-material price volatility, EPC execution risks, working-capital requirements, competition, customer concentration and dependence on infrastructure spending.
The Offer for Sale component should also be considered because ₹200 crore of the total IPO size will be received by selling shareholders rather than the company.
Overall, Lumino Industries has an established business, diversified product and project portfolio, improving financial performance and exposure to India’s power and infrastructure development.
Investors should carefully evaluate the Lumino Industries IPO Price, valuation, financial performance, debt position, industry outlook, business strategy and risk factors before making an investment decision.
Lumino Industries IPO FAQs
What is Lumino Industries IPO?
Lumino Industries IPO is the Mainboard public issue of Lumino Industries Limited, an engineering, manufacturing and EPC company operating in the power and energy sector.
What is the Lumino Industries IPO Price?
The Lumino Industries IPO Price band is ₹78 to ₹82 per equity share.
What is the issue size of Lumino Industries IPO?
The total issue size is ₹700 crore, comprising a fresh issue of up to ₹500 crore and an Offer for Sale of up to ₹200 crore.
What is the Lumino Industries IPO Lot Size?
The Lumino Industries IPO Lot Size is 182 equity shares. At the upper price band of ₹82, the minimum retail investment is ₹14,924.
When does Lumino Industries IPO open and close?
Lumino Industries IPO opens on 27 August 2026 and closes on 31 August 2026. Anchor investor bidding is scheduled for 25 August 2026.
What is the Lumino Industries IPO GMP?
Lumino Industries IPO GMP is an unofficial grey-market indicator and can change before listing. Investors should not treat GMP as a guaranteed listing gain or investment recommendation.
What is the Lumino Industries IPO Subscription Status?
The Lumino Industries IPO Subscription Status will be updated during the bidding period from 27 August to 31 August 2026. The final subscription figures will be available after the IPO closes.
When is the Lumino Industries IPO Allotment?
The Lumino Industries IPO Allotment is expected to be finalised on 1 September 2026. Refunds and demat credit are scheduled for 2 September 2026.
Who is the registrar for Lumino Industries IPO?
Bigshare Services Private Limited is the registrar to the Lumino Industries IPO.
What does Lumino Industries Limited do?
Lumino Industries Limited manufactures conductors, power cables and electrical wires and undertakes EPC projects across power transmission and distribution, EHV substations, railway electrification, solar power and water management.
