Lumino Industries IPO Trims Issue Size, Kicks Off August 27 Push as Cable Giant Aims for Market Debut

Lumino Industries IPO Trims Issue Size, Kicks Off August 27 Push as Cable Giant Aims for Market Debut​

Kolkata-based Lumino Industries has finalized the details of its Initial Public Offering (IPO), setting a firm date for public subscription. The company is poised to launch its IPO with an issue size of Rs 700 crore, marking a revision from the originally proposed Rs 1,000 crore. This move signals strategic focus as Lumino prepares to tap capital markets on August 27.

The financial plan includes a fresh equity issue of Rs 500 crore, designed to bolster the company's balance sheet and future growth. Additionally, the proposal includes an Offer For Sale (OFS) component, through which promoters Devendra Goel and his son Jay Goel will offer shares worth up to Rs 200 crore.

IPO Timeline and Market Mechanics​

The offering has been meticulously planned, with key dates set for investors. The anchor book, reserved for institutional investors, will open on August 25. The general public subscription phase is scheduled to close on August 31.

Lumino Industries expects all allotment processes to be finalized by September 1. Trading of the company’s equity shares on stock exchanges is slated to commence on September 3, giving the market a clear timeline for the listing. The specific price band for the IPO will be determined separately and finalized on August 21.

Business Trajectory and Client Base​

Lumino Industries stands as a key supplier in the power EPC sector, dealing in conductors and specialized power cables. The company maintains significant relationships with major industry players like Kalpataru Projects International, Jackson, and K G N Electricals.

The operational scope is vast, serving both domestic giants and international clientele. Clients include businesses across the United States, Mali, Burkina Faso, Nepal, Bangladesh, Kenya, Ghana, Rwanda, and Ethiopia. Domestic demand forms a critical pillar of the company's revenue stream, contributing 98 percent of its topline in FY26.

Financial Health and Funding Allocation​

The company reported robust financial performance for the fiscal year ended March 2026. Lumino Industries achieved a profit of Rs 160 crore, reflecting substantial growth over the previous year's Rs 124.6 crore. Revenue saw a rise of 6.4 percent to reach Rs 2,041 crore from Rs 1,918 crore in the prior period.

Looking forward, the IPO proceeds will be utilized strategically. A net amount of Rs 337 crore from the fresh issue is allocated toward debt repayment, addressing outstanding borrowings totaling Rs 1,856.7 crore as of July 2026. Further, Rs 15 crore is designated for expansion, covering equipment purchases and civil works at its existing manufacturing facility.

IPO Structure and Book Runner Appointment​

The allocation strategy ensures a diversified investor base while reserving shares for internal development. The company has earmarked equity shares equivalent to up to Rs 10 crore for employee stock reservation.

Of the net issue size (excluding employee allotments), 50 percent is reserved for Qualified Institutional Buyers (QIB). A significant portion, 35 percent, has been set aside for retail investors, with the remaining 15 percent targeting non-institutional investors.

Motilal Oswal Investment Advisors, JM Financial, and Monarch Networth Capital have been appointed as the merchant bankers to oversee the Lumino Industries IPO process, guiding the offering from market debut to listing.