Lumino Industries IPO opens to mixed response on Day 1; retail oversubscribed, QIB lags
The ₹700-crore IPO sees retail investors subscribed 1.96 times, NIIs 2.09 times; QIB bids remain muted at 0.04 times
Lumino Industries Ltd's IPO saw a mixed reaction on its first day of trading, with a subscription of 1.42 times. The retail investor category was particularly enthusiastic, subscribing 1.96 times, while qualified institutional buyers (QIBs) only managed a paltry 0.04 times. The share price was set between ₹78 and ₹82, and the company received bids for a staggering 9,00,23,752 shares, despite only having 6,32,05,127 shares on offer.
The retail bucket saw a surge in demand, with investors subscribing for 6,06,79,528 shares against 3,09,61,538 available. The non-institutional investors also showed strong interest, subscribing 2.09 times. The employee reservation portion was also partially taken, with 0.71 times interest. The IPO comprises a fresh issue of ₹500 crore and an offer for sale of ₹200 crore, with proceeds earmarked for debt repayment and capital expenditure.
Lumino Industries, a manufacturer of electrical components, reported a revenue of ₹2,041 crore and profit after tax of ₹160 crore in FY26. Analysts have rated the issue "Subscribe" from brokerage firms Geojit, Anand Rathi, and SBI Securities.
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