Lumino Industries shares made a strong debut on the stock exchanges on September 3, 2026, giving investors a listing gain of more than 30 per cent over the issue price.
The stock listed at Rs 110 per share on the NSE, a 34.15 per cent premium over its issue price of Rs 82. On the BSE, Lumino Industries shares opened at Rs 109, marking a 32.93 per cent premium.
An investor who received one lot of 182 shares in the IPO would have made a listing gain of Rs 5,096 on the NSE. The investment of Rs 14,924 at the issue price was worth Rs 20,020 at the NSE listing price.
The strong debut was broadly in line with the grey market premium before listing. Lumino Industries IPO's latest GMP stood at Rs 38, indicating an estimated listing price of around Rs 120 based on the upper price band of Rs 82. However, the actual NSE listing price was lower than the grey market indication.
Lumino Industries Raised Rs 700 Crore
Lumino Industries raised Rs 700 crore through its IPO, which comprised a fresh issue of 60.96 million shares worth Rs 500 crore and an offer for sale of 24.39 million shares worth Rs 200 crore.
The IPO was open for subscription between August 27 and August 31. The allotment was finalised on September 1.
The company had fixed the IPO price band at Rs 78-82 per share and set the final issue price at Rs 82.
At the issue price, Lumino Industries was valued at around Rs 2,497 crore after the IPO. Following the NSE listing at Rs 110, its market capitalisation rose to around Rs 3,320 crore.
Lumino Industries IPO Subscription Details
Lumino Industries IPO received an overwhelming response from investors, getting subscribed 124.02 times by the end of the bidding period on August 31, 2026.
Qualified institutional buyers (QIBs) placed bids for 232.79 times the shares reserved for them. The non-institutional investor (NII) category was subscribed 185.21 times, while the retail investors' portion received 40.27 times subscription.
The employee category was subscribed 12.37 times. Overall, investors placed bids for 745.64 crore shares against 6.01 crore shares on offer.
The IPO received a total of 58,48,594 applications.
What Does Lumino Industries Do
Incorporated in 2005, Lumino Industries is an integrated engineering, procurement and construction company focused on the power transmission and distribution sector.
The company manufactures conductors, power cables, electrical wires and high-temperature low-sag conductors used in transmission and distribution networks.
It also undertakes EPC projects covering power transmission and distribution, extra-high-voltage substations, HTLS re-conductoring, railway electrification, solar power and water management.
Lumino Industries supplies its products to large EPC players in India and has customers in international markets, including the US, Mali, Burkina Faso, Côte d'Ivoire, Nepal, Bangladesh, Kenya, Ghana, Rwanda and Ethiopia.
Lumino Industries IPO Objectives
Lumino Industries plans to use a large part of the fresh issue proceeds to reduce its debt.
The company will use Rs 337 crore to prepay or repay certain outstanding borrowings. It will spend another Rs 15.01 crore on machinery, equipment and civil works at an existing manufacturing facility.
Lumino Industries will allocate Rs 110.58 crore for general corporate purposes.
Lumino Industries Financial Performance
Lumino Industries reported a consolidated revenue of Rs 2,089.31 crore in FY26, compared with Rs 1,946.68 crore in FY25. This represents a growth of around 7 per cent.
Its profit after tax (PAT) increased 28 per cent to Rs 160 crore from Rs 124.59 crore during the same period.
The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) rose to Rs 238.95 crore in FY26 from Rs 222.94 crore in FY25. Net worth increased to Rs 729.58 crore from Rs 570.29 crore.
Debt narrowed to Rs 384.16 crore at the end of FY26, compared with Rs 418.83 crore a year earlier.
