Lumino Industries shares jumps 39.6% on debut, lists at ₹110 on NSE
Of the IPO proceeds, ₹337 crore will be utilised for payment of debt, and ₹15 crore will be used for capital expenditure
Lumino Industries shares surged 39.6% on its debut, listing at ₹110 on the NSE. The stock opened at a 34% premium, trading at ₹110 on the NSE and ₹109 on the BSE. Within minutes, it surged 39.6% to reach ₹114. The company, an integrated engineering, procurement, and construction firm, saw an overwhelming response to its IPO, with a subscription of 118.12 times overall.
Qualified Institutional Buyers (QIBs) subscribed 221.43 times, while non-institutional investors subscribed 176.42 times, and retail investors subscribed 38.50 times. The IPO raised ₹207 crore from anchor investors, with ₹337 crore earmarked for debt repayment and ₹15 crore for capital expenditure.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Lumino Industries shares soar 40% from IPO price after strong market debut. Should you buy or wait? economictimes.indiatimes.com
