About Lumino Industries IPO
Lumino Industries Limited is set to launch its IPO for public subscription on August 27, 2026 until August 31, 2026.
The Lumino Industries IPO price band is set at ₹78–₹82 per equity share. The allotment is expected to be finalised on September 1, 2026.
The Lumino Industries IPO is a ₹700 crore book-building issue, comprising a fresh issue of ₹500 crore and an offer for sale (OFS) of up to 2,43,90,242 equity shares aggregating to approximately ₹200 crore, with a face value of ₹5 each.
Business Overview of Lumino Industries
Lumino Industries Limited, incorporated on March 30, 2005, is an integrated engineering, procurement, and construction (EPC) company in India, with a focus on manufacturing and supplying conductors, electrical wires, power cables, and HTLS conductors for the growing power distribution and transmission industry.
Key Highlights of Lumino Industries:
- Product-driven EPC player focused on India's power transmission and distribution sector.
- Manufactures conductors, power cables, electrical wires, and HTLS conductors.
- Revenue from operations increased from ₹1,946.68 crore in FY2025 to ₹2,089.31 crore in FY2026.
- Profit After Tax (PAT) increased from ₹124.59 crore in FY2025 to ₹160.00 crore in FY2026.
- Promoters include Purushottam Dass Goel, Devendra Goel, and Jay Goel.
Lumino Industries IPO Date, Price, and Other Details
Here are the details of the upcoming Lumino Industries IPO:
| Particulars | Details |
|---|---|
| IPO Size | ₹700 crore |
| Issue Type | Book Building |
| Fresh Issue | ₹500 crore |
| Offer for Sale | ~₹200 crore |
| Price Band | ₹78–₹82 per share |
| IPO Dates | August 27–31, 2026 |
| Minimum Bid Lot | 182 shares |
| Minimum Investment | ₹14,924 at upper band |
| Allotment Date | September 1, 2026 |
| Credit of Shares to Demat | September 2, 2026 |
| Listing Date | September 3, 2026 |
| Face Value | ₹5 per share |
| Registrar | Bigshare Services Pvt. Ltd. |
| Lead Managers | Motilal Oswal Investment Advisors Ltd., JM Financial Ltd., Monarch Networth Capital Ltd. |
| Listing Exchanges | NSE & BSE |
Lumino Industries IPO Reservation: Who Can Apply?
The Lumino Industries IPO has the following investor category reservation:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 182 | ₹14,924 |
| Retail (Max) | 13 | 2,366 | ₹1,94,012 |
| S-HNI (Min) | 14 | 2,548 | ₹2,08,936 |
| S-HNI (Max) | 67 | 12,194 | ₹9,99,908 |
| B-HNI (Min) | 68 | 12,376 | ₹10,14,832 |
Strengths and Risks of Lumino Industries IPO
With every business owning its strengths and risks, even the Lumino Industries IPO has its potential plus points and downsides to be aware of.
Here is a brief business analysis (as per RHP) below:
Strengths
- Integrated EPC model combining manufacturing and project execution capabilities in the power infrastructure space.
- Revenue grew from ₹1,946.68 crore in FY2025 to ₹2,089.31 crore in FY2026.
- PAT grew from ₹124.59 crore to ₹160.00 crore, a growth of approximately 28%.
- Positioned in the growing Indian power transmission and distribution sector, which benefits from ongoing government infrastructure spending.
- Post-issue P/E of approximately 15.6x appears moderate relative to growth.
Risks
- Lumino Industries have reliance on a limited number of raw material suppliers. Any loss of key suppliers could adversely affect operations.
- They have capital-intensive business with significant borrowings requiring repayment.
- The company is exposed to raw material price volatility, particularly metals used in conductor and cable manufacturing.
- EPC contracts carry execution risks including delays, cost overruns, and client payment timing.
- Investors should review the full risk factors chapter in the RHP for company-specific disclosures.
Future Plans/Strategies
- Repay/prepay outstanding borrowings to strengthen the balance sheet (₹337 crore from IPO proceeds).
- Capital expenditure for purchase of equipment, machinery, civil works, and interior development of existing manufacturing facility (₹15.01 crore from IPO proceeds).
- General corporate purposes with remaining funds.
Lumino Industries IPO Objectives – How Will the Funds Be Used?
The proceeds from the fresh issue of Lumino Industries IPO are proposed to be utilised as follows:
| IPO Objective | Amount |
|---|---|
| Prepayment/repayment of outstanding borrowings | ₹337.00 crore |
| Capital expenditure — equipment, machinery, civil works | ₹15.01 crore |
| General corporate purposes | Remaining amount |
The approximately ₹200 crore OFS component will be received by the selling shareholders and will not accrue to the company.
Promoter Shareholding of Lumino Industries IPO
The promoters of Lumino Industries include Purushottam Dass Goel, Devendra Goel, and Jay Goel.
Financial Performance (₹ in crores) of Lumino Industries IPO
Here’s the table outlining the financial performance of Lumino Industries from FY 2024 to FY 2026.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 2,174.88 | 1,718.66 | 1,175.44 |
| Total Income | 2,089.31 | 1,946.68 | 1,424.63 |
| Profit After Tax | 160.00 | 124.59 | 86.61 |
| EBITDA | 238.95 | 222.94 | 145.09 |
| NET Worth | 729.58 | 570.29 | 445.86 |
| Reserves and Surplus | 606.16 | 446.66 | 413.86 |
| Total Borrowing | 384.16 | 418.83 | 40.91 |
Key Performance Metrics of Lumino Industries
Based on the financials available in the RHP, the following key performance metrics of Lumino Industries IPO can be considered.
| KPI | FY2025 | FY2026 |
|---|---|---|
| Return on Net Worth (RoNW) | 24.62% | 24.52% |
| Return on Capital Employed (RoCE) | 25.75% | 31.89% |
| EBITDA Margin | 11.71% | 11.62% |
| PAT Margin | 7.66% | 6.40% |
| Debt-to-Equity Ratio | 0.53 | 0.73 |
| Earnings Per Share (EPS), Basic (FY2026) | ₹6.57 | ₹5.11 |
Registrar of Lumino Industries IPO
Bigshare Services Pvt. Ltd. is the registrar of the Lumino Industries IPO.
Website: https://www.bigshareonline.com/
Lead Manager of Lumino Industries IPO
The book-running lead managers (BRLMs) for the Lumino Industries IPO are:
- Motilal Oswal Investment Advisors Ltd.
- JM Financial Ltd.
- Monarch Networth Capital Ltd.
How To Apply for the Lumino Industries IPO?
Eligible investors can apply for the Lumino Industries IPO through the ASBA facility offered by their bank or through the UPI application route available through participating brokers and investment platforms.
Steps to Apply for Lumino Industries
- Log in to your net banking account and select the ASBA IPO section, or open the IPO section on your broker's app.
- Select Lumino Industries Limited from the list of active IPOs.
- Enter the number of lots you wish to apply for. The minimum is 1 lot of 182 shares.
- Enter your bid price within the ₹78–₹82 price band or select the cut-off option, where applicable.
- Verify your PAN, Demat and bank/UPI details.
- Submit the application and approve the UPI mandate, if applicable.
- Keep your IPO application/reference number for future tracking.
The application must be completed before the IPO closes on August 31, 2026.
