Lumino Industries
Lumino Industries is a leading engineering, procurement, and construction (EPC) company specializing in the manufacture and supply of power cables, conductors, and electrical wires. The company operates within the power distribution and transmission sector, providing specialized components like high-temperature, low-sag (HTLS) conductors.
Price Band
₹78 - ₹82
Lot Size
182 Shares
Issue Size
₹700.00 Cr
Fresh Issue
₹500.00 Cr
OFS
₹200.00 Cr
Registrar
AI Sentiment Score
Current GMP
+₹38
Est. Listing: ₹120 (+46.3%)
📅 IPO Timeline
1
Open
Aug 27
2
Close
Aug 31
3
Allotment
Sep 1
4
Refund
Sep 2
5
Demat
Sep 2
6
Listing
Sep 3
✨ AI Analysis & Prediction
+31.8%
predicted listing gain
The listing gain is adjusted slightly downward from the GMP baseline due to neutral institutional subscription data, but bolstered by strong financial metrics including an ROE of 24.62% and a healthy Debt-to-Equity ratio of 0.53. The significant fresh issue component (71.4%) prevents a structural OFS penalty, supporting a positive listing sentiment.
💪 Strengths
- Strong profitability with ROE of 24.62% and ROCE of 25.75%
- International presence in USA, Nepal, and Ghana
- Fast-growing player in the specialized HTLS conductor segment
⚠️ Weaknesses
- Concentration of manufacturing facilities in a single region (West Bengal)
- Lower PAT margins (7.66%) compared to some high-end electrical peers
🚀 Opportunities
- Increasing global demand for renewable energy and power grid modernization
- Expansion of EPC capabilities in international markets
🛡️ Threats
- Volatility in raw material prices for cables and conductors
- Intense competition from established players like KEI and Apar Industries
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Prepayment or re-payment, in full or in part,of certain outstanding borrowings availed by company | ₹337.00 |
| Capital expenditure by Company for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility | ₹15.01 |
| General corporate purposes | ₹347.99 |
📊 Financial Overview
| Metric | FY22 | FY24 | FY25 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 604.00 Cr | Rs 1,400.00 Cr | Rs 1,915.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 39.00 Cr | Rs 87.00 Cr | Rs 125.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 60.00 Cr | Rs 157.00 Cr | Rs 234.00 Cr |
| Borrowings (₹ Cr) | Rs 200.00 Cr | Rs 458.00 Cr | Rs 882.00 Cr |
| Total Assets (₹ Cr) | Rs 681.00 Cr | Rs 1,175.00 Cr | Rs 1,719.00 Cr |
| ROCE % | 13.00% | NA | 21.00% |
Debt/Equity
0.53
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
Updated: Aug 22, 2026 8:01 AM
💼 Reservation Quota
QIB
50.00%
Retail
35.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Founded in 2005, Lumino Industries has evolved into one of the fastest-growing players in the conductors and power cables EPC industry. The company has built a robust operational foundation over two decades, focusing on the critical infrastructure needed for power transmission and distribution.
The company's core business model involves the manufacturing of a diverse product portfolio, including Aluminium conductors, power cables, and specialized electrical wires. These products are essential for industrial applications, renewable energy projects, communication networks, and general power distribution.
Lumino maintains a strong market position with a global footprint, supplying its products to international clients and government-owned electricity companies in countries including the USA, Nepal, and Ghana. This diversification across geographies reduces dependency on a single domestic market.
Operationally, the company runs two state-of-the-art manufacturing facilities located in Howrah, West Bengal. These plants enable the company to scale production and maintain quality standards for its high-tech HTLS conductors.
The company is led by its promoters, Purushottam Dass Goel, Devendra Goel, and Jay Goel, who have steered the firm's growth from a local manufacturer to a competitive EPC entity with significant international reach.
The Lumino Industries IPO is a mainboard issue seeking to raise approximately ₹700 Crores. The issue is structured as a combination of a ₹500 Crore fresh issue and an Offer for Sale (OFS) of approximately 2.44 Crore shares. The price band is set between ₹78 to ₹82 per share, with a minimum retail lot size of 182 shares. The IPO opens on August 27, 2026, and closes on August 31, 2026, with listing expected on BSE and NSE on September 3, 2026.
Proceeds from the fresh issue are primarily earmarked for the prepayment or repayment of outstanding borrowings amounting to ₹337 Crore, and ₹15.01 Crore for capital expenditure related to the purchase of equipment and machinery and civil works at an existing manufacturing facility.
Financial performance shows a steady upward trajectory. Revenue grew from ₹1,424.63 Crore in FY24 to ₹2,089.31 Crore in FY26. Net Profit (PAT) also exhibited strong growth, rising from ₹86.61 Crore in FY24 to ₹160.00 Crore in FY26, reflecting efficient operational scaling.
In terms of valuation, the company reports a Basic EPS of ₹6.57 for FY26. While a specific P/E ratio is not provided, peer comparisons show a wide range, with companies like KEI Industries and Apar Industries commanding high premiums, suggesting room for growth if Lumino captures more market share.
Key strengths include a strong ROE of 24.62% and ROCE of 25.75%, combined with a manageable Debt-to-Equity ratio of 0.53. The company's entry into the HTLS conductor segment provides a competitive edge in the evolving energy landscape.
However, investors should consider risks such as the inherent volatility of the EPC sector and the impact of raw material price fluctuations. While this is not a pure OFS issue, the partial offloading by promoters is a standard move for liquidity. Overall, the company presents a growth-oriented profile with solid fundamentals.