Lumino Industries IPO: Fresh Issue To Fund Debt Repayment, Machinery Purchase And Facility Upgrade
New Delhi, Aug 21: Lumino Industries Ltd will launch its Rs 700 crore Initial Public Offering (IPO) on August 27, with the company looking to use the fresh issue proceeds to pare debt, buy equipment and machinery, and upgrade an existing manufacturing facility. The price band has been fixed at Rs 78-82 per share, valuing the company at around Rs 2,500 crore at the higher end. The IPO comprises a…
New Delhi, Aug 21 - Lumino Industries Ltd is set to launch an IPO on August 27, aiming to utilize the funds raised for debt reduction, machinery acquisition, and facility upgrades. The share price band has been established at Rs 78-82, which would give the company a valuation of around Rs 2,500 crore. The IPO consists of a fresh equity issue up to Rs 500 crore and an Offer For Sale of shares up to Rs 200 crore.
The bidding period concludes on August 31, with anchor investor bidding occurring on August 25. The funds raised will be allocated to debt repayment, equipment purchase, civil works and interior development of an existing manufacturing facility, and general corporate purposes. Lumino Industries Ltd is an engineering, procurement, and construction firm based in India, specializing in the production of conductors, power cables, electrical wires, and other components for the power distribution and transmission sector.
The company serves a diverse clientele, including major EPC players and government utilities in various countries. The shares will be listed on both the BSE and NSE on September 3, with 50% reserved for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and 35% for retail investors.
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