Lumino Industries Limited is set to make its debut in the capital markets with its maiden Initial Public Offering (IPO), as the company looks to strengthen its financial position and expand its manufacturing capabilities. The IPO is expected to attract investor attention, particularly given Lumino Industries’ presence in the power transmission and distribution sector.
The company has fixed the price band at ₹78 to ₹82 per equity share, with each share having a face value of ₹5. The IPO will open for subscription on Thursday, August 27, 2026, and close on Monday, August 31, 2026.
Investors participating in the issue will have to bid for a minimum of 182 equity shares, with subsequent bids permitted in multiples of 182 shares. At the upper price band of ₹82, a minimum lot would amount to ₹14,924.
Fresh issue and offer for sale
According to the company, the IPO will comprise a fresh issue of up to ₹500 crore, along with an Offer for Sale (OFS) of shares worth up to ₹200 crore by promoters Devendra Goyal and Jai Goyal. If fully subscribed, the total issue size could therefore be around ₹700 crore.
A significant portion of the fresh issue proceeds has been earmarked for reducing the company’s debt burden. Around ₹337 crore will be utilised towards the full or partial repayment of existing debt. The company plans to use another ₹15.01 crore for purchasing new equipment and machinery, along with civil works and interior development at its existing manufacturing plant.
The remaining proceeds from the fresh issue will be used for general corporate purposes.
Lumino Industries’ Business
Lumino Industries operates as a product-based integrated Engineering, Procurement and Construction (EPC) company. Its product portfolio includes conductors, power cables, electrical wires and other specialised electrical products.
The company also manufactures High-Temperature Low-Sag (HTLS) conductors, which are designed for applications in the power transmission and distribution sector. With India’s electricity infrastructure continuing to expand, products used for power transmission and distribution remain an important part of the country’s broader infrastructure ecosystem.
Beyond the domestic market, Lumino Industries has also established an export presence. Its products are supplied to government and government-controlled power companies, public sector undertakings and electricity boards across multiple international markets.
The company exports to countries including the United States, Mali, Burkina Faso, Ivory Coast, Nepal, Bangladesh, Kenya, Ghana, Rwanda and Ethiopia. This international footprint gives Lumino Industries exposure to markets beyond India and adds an export-oriented component to its business operations.
IPO management
The IPO will be managed by Motilal Oswal Investment Advisors Limited, JM Financial Limited and Monarch Networth Capital Limited, which are acting as the Book Running Lead Managers to the issue.
With its maiden IPO, Lumino Industries is looking to tap the capital markets at a time when infrastructure and power transmission remain key areas of focus. The combination of a fresh issue, debt repayment plans, manufacturing investments and an established export presence could make the IPO a closely watched offering among investors.
The Lumino Industries IPO will open on August 27 and close on August 31, 2026, with the price band set at ₹78–₹82 per share.
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