Lumino Industries IPO

Lumino Industries IPO is a book-built issue worth ₹700 crore, comprising a fresh issue of 6.10 crore shares aggregating to ₹500 crore and an offer for sale of 2.44 crore shares worth ₹200 crore.

The IPO will open for subscription on August 27, 2026, and close on August 31, 2026. The basis of allotment is expected to be finalised on September 1, 2026, with the tentative listing scheduled for September 3, 2026, on the BSE and NSE.

The price band has been fixed at ₹78 to ₹82 per share, with a lot size of 182 shares. Retail investors will need to invest a minimum of ₹14,924 at the upper price band.

Motilal Oswal Investment Advisors Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar to the issue.

Industry Outlook

1. The Indian wires and cables market was valued at approximately ₹1,618 billion in FY26, compared with ₹787 billion in FY20, registering a CAGR of around 13%.
2. The market is expected to grow at a CAGR of 13–14% between FY26 and FY31, reaching an estimated ₹2,980–3,120 billion by FY31.
3. Growth has been supported by rising demand for high-voltage (HV) and extra-high-voltage (EHV) cables, elastomeric or rubber cables, PVC control and instrumentation cables, and building wires.
4. The expansion of power transmission networks, rural electrification initiatives and increased construction activity across residential and commercial segments have contributed to market growth.
5. Higher production volumes and improved realisations, partly driven by rising commodity prices, have also supported the industry's expansion.
6. Going forward, investments under the Revamped Distribution Sector Scheme (RDSS), along with projects planned by the Central Transmission Utility, the Inter-State Transmission System and the Green Energy Corridor, are expected to support demand across voltage categories.
7. Long-term investment in the building and construction sector is also expected to rise at an average annual rate of 3–5% between FY27 and FY31, supported by growth in residential demand.
8. The expansion of data centres, increasing digitalisation and cloud adoption, rising AI workloads, improved digital connectivity and investments in smart grids are expected to further drive demand for wires and cables.
9. In FY26, power transmission cables accounted for the largest share of the domestic wires and cables market at approximately 43–45%, followed by building wires with a share of around 27–29%.
10. Within the power transmission cable segment, low-voltage PVC and XLPE cables accounted for the largest share of approximately 49–51%. 

Lumino Industries IPO Objectives 

The company plans to utilise the net proceeds from the IPO for the following purposes:

1. Lumino Industries plans to use ₹337 crore of the net IPO proceeds for the full or partial prepayment or repayment of certain outstanding borrowings.
2. The company will allocate ₹15.01 crore towards capital expenditure, including the purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility.
3. The remaining proceeds will be utilised for general corporate purposes.
4. The total amount proposed to be utilised across these objectives is ₹352.01 crore.

About Lumino Industries Limited 

Incorporated in 2005, Lumino Industries Ltd. is an integrated engineering, procurement and construction (EPC) company engaged in manufacturing and supplying conductors, power cables, electrical wires and specialised products for the power transmission and distribution industry. The company also manufactures high-temperature low-sag (HTLS) conductors used in transmission and distribution networks. 

Lumino Industries operates through two key segments, Manufacturing and EPC. Its manufacturing portfolio includes aluminium conductors, power cables and electrical wires, while its EPC business covers power transmission and distribution, EHV substations, HTLS reconductoring, railway electrification, solar power projects and water management projects. The company supplies its products to major EPC players in India and caters to international customers, including government-owned electricity companies, public enterprises and electricity boards across markets such as the US, Mali, Burkina Faso, Côte d’Ivoire, Nepal, Bangladesh, Kenya, Ghana, Rwanda and Ethiopia. As of March 31, 2026, the company had 890 permanent employees.

How To Check the Allotment Status of the Lumino Industries IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

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How To Apply for Lumino Industries IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Lumino Industries IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Lumino Industries IPO 

Registered Office:Lumino Industries Ltd. Address- Unit No – 12/4, Merlin Acropolis, 1858/1 Rajdanga Main Road, Kolkata, West Bengal, 700107

Phone: +91 33 2441 2008

E-mail: investor.relation@luminoindustries.com

Lumino Industries IPO Reservation

Lumino Industries IPO Promoter Holding

The promoters of the company are Purushottam Dass Goel, Devendra Goel and Jay Goel.

Lumino Industries IPO Prospectus

• Lumino Industries IPO DRHP

Lumino Industries IPO Registrar and Lead Managers

Lumino Industries IPO Lead Managers

• Motilal Oswal Investment Advisors Ltd.
• JM Financial Ltd.
• Monarch Networth Capital Ltd.

Registrar for Lumino Industries IPO

Bigshare Services Pvt.Ltd.

• Contact Number: 8657578989/8069219065/8069219060
• Email Address: ipo@bigshareonline.com

Financial Performance of Lumino Industries Limited

Lumino Industries IPO Peer Comparison 

Strengths and Opportunities of Lumino Industries IPO

1. Lumino Industries is a rapidly growing integrated power EPC company with in-house manufacturing capabilities.
2. The company follows a cost-efficient business model, with complementary and integrated operations across its business segments.
3. It has well-established and integrated manufacturing facilities supported by a broad range of products.
4. The company has a strong and diversified order book, providing visibility for future business growth.
5. Lumino Industries has established strategic alliances and partnerships with reputed international companies.
6. The company benefits from experienced promoters, a committed management team and a skilled workforce.

Risks and Threats of Lumino Industries IPO 

1. The company may face risks from significant price increases or fluctuations in key raw materials, as well as delays or disruptions in their supply.
2. Any breakdown, disruption or shutdown at its manufacturing facilities could adversely affect production and operations.
3. The company faces geographical concentration risk as all its manufacturing facilities and warehouses are located in Howrah, West Bengal.
4. Rising competition and aggressive bidding from existing players and new entrants across the public and private sectors could put pressure on business performance and margins.
5. Any unfavourable changes in the power sector could negatively impact the company’s operations and financial performance.
6. Disruptions in the power supply to its manufacturing facilities could affect production and business continuity.
7. Fluctuations in foreign exchange rates could expose the company to currency-related risks.
8. Delays, disruptions or failures by third-party logistics providers in delivering products on time could affect customer relationships and business operations.