Lumino Industries IPO is a book-built public issue with a total size of ₹700 crore, comprising a fresh issue of ₹500 crore and an offer for sale worth ₹200 crore. The public subscription window opens on August 27, 2026, and closes on August 31, 2026. The company plans to list its shares on both NSE and BSE, with the listing expected in early September 2026.
The IPO is priced in the range of ₹78–₹82 per share, while the minimum application size is 182 shares. At the upper end of the price band, retail investors need to invest at least ₹14,924 for one lot. The issue is being managed by Motilal Oswal Investment Advisors Limited, while Bigshare Services Private Limited has been appointed as the registrar. Through this offering, Lumino Industries aims to raise capital for business growth, strengthen its financial position, and support its future expansion plans.
Lumino Industries IPO Details
| IPO Open Date | 27-08-2026 |
| IPO Close Date | 31-08-2026 |
| Face Value | ₹5 Per Equity Share |
| IPO Price Band | ₹78 to ₹82 Per Share |
| Issue Size | Approx ₹700 cr. |
| Fresh Issue | Approx ₹500 cr. |
| Offer For Sale | Approx 2,43,90,242 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | NSE,BSE |
Issue Reservation
| Investor Category | Shares Offered % |
|---|---|
| Retail Shares Offered | 35% |
| NII Shares Offered | 15% |
| QIB Shares Offered | 50% |
Lumino Industries IPO Market Lot
The Lumino Industries IPO minimum market lot is 182 shares with ₹14,924 application amount. The retail investors can apply up-to 13 lots with 2,366 shares of ₹1,94,012 amount.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 182 | ₹14,924 |
| Retail Maximum | 13 | 2,366 | ₹1,94,012 |
| S-HNI Minimum | 14 | 2,548 | ₹2,08,936 |
| S-HNI Maximum | 67 | 12,194 | ₹9,99,908 |
| B-HNI Minimum | 68 | 12,376 | ₹10,14,832 |
Lumino Industries IPO Anchor Investors
| Anchor Bidding Date | 25-08-2026 |
| Shares Offered | 2,52,43,901 Share |
| Lock-in period end date 50% shares(30 Days) | 01-10-2026 |
| Lock-in period end date 50% shares (90 Days) | 30-11-2026 |
Lumino Industries IPO Dates
The Lumino Industries IPO Open date is August 27 and the close date is August 31 . The Lumino Industries IPO allotment will be finalized on September 1 and the IPO listing on September 3.
| IPO Open Date: | 27-08-2026 |
| IPO Close Date: | 31-08-2026 |
| Basis of allotment: | 01-09-2026 |
| Refunds: | 02-09-2026 |
| Credit to Demat Account: | 02-09-2026 |
| IPO Listing Date: | 03-09-2026 |
Key Strengths and Hidden Risks
Key Strengths
Strong Position in the Power Infrastructure Industry
Lumino Industries operates in the power transmission, distribution, and railway electrification segments, allowing it to benefit from increasing infrastructure and energy investments across India.
Diversified Product Portfolio
The company offers a broad range of products, including conductors, power cables, and other electrical solutions. This diversification reduces dependence on a single product category.
Healthy Return on Net Worth
Lumino Industries reported a Return on Net Worth (RoNW) of 24.62% in FY2026, reflecting efficient utilization of shareholder capital.
Balance Sheet Improvement Through IPO Proceeds
A significant portion of the IPO proceeds will be utilized for debt repayment, which may reduce interest costs and strengthen the company’s financial position over time.
Hidden Risk Factors
Dependence on the Power and Infrastructure Sector
The company’s growth is closely linked to spending in the power and infrastructure sectors. Any slowdown in these industries could affect future order inflows and revenue growth.
Existing Debt Obligations
A major portion of the IPO proceeds is earmarked for repayment or prepayment of borrowings, indicating that debt management remains an important factor for the company.
Raw Material Price Fluctuations
The business depends on raw materials such as metals and other industrial inputs. Significant price volatility could impact profit margins if costs cannot be passed on to customers.
Competitive Industry Environment
Lumino Industries competes with established players such as Apar Industries, KEC International, KEI Industries, and other listed peers, which may create pressure on pricing, margins, and market share.
Pre and Post-IPO Shareholding Pattern
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 100% | 71.97% |
| Public | 28.03% | |
| Total | 100% | 100% |
Company Promoters: Purushottam Dass Goel, Devendra Goel and Jay Goel.
Objects of the Issue
| Purpose | Crores |
|---|---|
| Repayment or early settlement, either fully or partially, of selected outstanding borrowings availed by the Company. | ₹337 |
| Funding capital expenditure for the acquisition of machinery and equipment, execution of civil works, and interior development at the Company’s existing manufacturing facility. | ₹15.01 |
| General corporate purposes | ₹- |
About
Lumino Industries Limited is an integrated engineering and manufacturing company operating in India’s power transmission and distribution sector. Established in 2005, the company manufactures a wide range of products, including conductors, power cables, railway electrification solutions, and other electrical equipment used in infrastructure and energy projects. The company serves utilities, government entities, EPC contractors, and industrial customers across multiple segments of the power value chain.
Over the years, Lumino Industries has expanded its manufacturing capabilities and developed a diversified product portfolio that supports the growing demand for reliable power infrastructure in India. Its operations are backed by manufacturing facilities, technical expertise, and long-standing customer relationships, enabling the company to participate in transmission, distribution, railway, and industrial electrification projects.
The IPO proceeds are proposed to be utilized primarily for repayment or prepayment of certain borrowings, capital expenditure for expanding and upgrading the existing manufacturing facility, and general corporate purposes. Through this offering, Lumino Industries aims to strengthen its financial position and support future business growth while continuing to serve India’s evolving power infrastructure requirements.
Lumino Industries IPO Company Financial Report
| Period Ended | Revenue | Expense | Pat | Assets |
|---|---|---|---|---|
| 2024 | ₹1,424.63 | ₹1,308.67 | ₹86.61 | ₹1,175.44 |
| 2025 | ₹1,946.68 | ₹1,777.37 | ₹124.59 | ₹1,718.66 |
| 2026 | ₹2,089.31 | ₹1,884.54 | ₹160 | ₹2,174.88 |
Lumino Industries IPO Valuation – FY2026
Check Lumino Industries IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
|---|---|
| ROE | 24.62% |
| ROCE | 25.75% |
| EBITDA Margin | 11.71% |
| PAT Margin | 7.66% |
| Debt to equity ration | 0.53 |
| Earning Per Share(EPS) | ₹6.57 |
| P/E Ratio | N/A |
| Return on Net Worth (RoNW) | 24.62% |
| Net Asset Value(NAV) | ₹29.95 |
Peer Group Comparison
| Company | Income | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Apar Industries Ltd | 22,966.89 cr. | 242.81 | 68.98 | 19.76% | 1,341.55 |
| Bajel Projects Ltd | 2,818.56 cr. | 1.74 | 108.66 | 0.98% | 64.61 |
| Kalpataru Projects International Ltd | 27,247.93 cr. | 60.90 | 22.13 | 15.80% | 438.28 |
| KEC International Ltd | 23,555.87 cr. | 22.75 | 19.81 | 11.10% | 219.80 |
| KEI Industries Ltd | 11,906.32 cr. | 96.02 | 58.79 | 14.76% | 697.07 |
| Universal Cables Ltd | 3,050.99 cr. | 47.01 | 35.51 | 8.91% | 544.62 |
| Techno Electric & Engineering Company Ltd | 3,401.17 cr. | 40.74 | 25.97 | 12.00% | 357.43 |
Lumino Industries IPO Lead Managers aka Merchant Bankers
Motilal Oswal Investment Advisors Ltd.
JM Financial Ltd.
Monarch Networth Capital Ltd.
Lumino Industries Company Address
Lumino Industries Ltd.
Unit No – 12/4,
Merlin Acropolis
1858/1 Rajdanga Main Road,
Kolkata, West Bengal, 700107
Phone: +91 33 2441 2008
Email: investor.relation@luminoindustries.com
Website: http://www.luminoindustries.com/
Lumino Industries IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: 8657578989/8069219065/8069219060
EMail: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
FAQs
What does Lumino Industries do?
Lumino Industries manufactures and supplies conductors, power cables, specialized wires, and other electrical transmission and distribution products used in power infrastructure projects.
When was Lumino Industries incorporated?
Lumino Industries was incorporated in 2005 and has developed a presence in the power and electrical equipment industry over the years.
What are the major products of the company?
The company’s product portfolio includes conductors, power cables, railway electrification products, and related engineering solutions for power transmission and distribution.
Who are the listed peers of Lumino Industries?
Key listed peers include Apar Industries, Bajel Projects, Kalpataru Projects International, KEC International, KEI Industries, Universal Cables, and Techno Electric & Engineering.
What was the company’s EPS for FY2026?
The company’s diluted EPS for FY2026 was ₹6.57.
What was the company’s RoNW in FY2026?
Lumino Industries reported a Return on Net Worth (RoNW) of 24.62% in FY2026.
What was the company’s NAV per share in FY2026?
The Net Asset Value (NAV) per share stood at ₹29.95 as of March 31, 2026.
How does Lumino Industries plan to use the IPO proceeds?
The company intends to use the proceeds primarily for debt repayment, capital expenditure at its manufacturing facility, and general corporate purposes.
What are the strengths of Lumino Industries?
The company benefits from a diversified product portfolio, established customer relationships, and participation in India’s growing power infrastructure sector.
What industry does Lumino Industries operate in?
Lumino Industries operates in the electrical equipment and power transmission & distribution industry, serving utilities, infrastructure projects, and industrial customers.
Disclaimer
I am not a SEBI-registered Research Analyst, Investment Adviser, or any other SEBI-regulated financial professional. The information provided on this website regarding IPOs, GMP, stock markets, and other financial topics is for educational and informational purposes only.
The content published on this website should not be considered financial advice, investment advice, or a recommendation to buy, sell, or hold any security. Investors should conduct their own research and consult a SEBI-registered financial advisor before making any investment decisions.