SEBI Clears IPO Proposals of Lumino Industries, M&B Engineering, and Sunshine Pictures

The Indian primary markets are set to witness a fresh wave of public offerings as the Securities and Exchange Board of India (SEBI) has approved the IPO plans of 3 companies: Lumino Industries, M&B Engineering, and Sunshine Pictures. These approvals, granted in mid-June, come at a time when investor confidence is steadily growing and sectoral diversification is gaining momentum in the equity space

Diverse Offerings Set to Tap Capital Markets

The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) plans of Lumino Industries, M&B Engineering, and Sunshine Pictures, signalling a robust pipeline of market debuts across multiple sectors. Observation letters were issued by SEBI on June 9, June 11, and June 13, respectively, allowing each company a 12-month window to go public.

Kolkata-based Lumino Industries, a major player in manufacturing conductors and power cables, is set to raise ₹1,000 crore. The issue structure comprises a fresh issue of ₹600 crore and an offer-for-sale (OFS) of ₹400 crore by promoters Devendra Goel and Jay Goel. The company may also consider a ₹120 crore pre-IPO placement. Motilal Oswal Investment Advisors, JM Financial, and Monarch Networth Capital are the appointed merchant bankers for the offering.

Meanwhile, Ahmedabad-headquartered M&B Engineering, known for its work in pre-engineered building solutions and self-supported roofing systems, has received approval for a ₹650 crore IPO. The issue includes a fresh equity issue of ₹275 crore and an OFS worth ₹375 crore by existing promoters. Equirus Capital and DAM Capital Advisors are acting as the lead managers.

Entertainment Giant Sunshine Pictures to Enter Public Markets

The 3rd company to receive SEBI's nod is Sunshine Pictures, founded by well-known filmmaker Vipul Amrutlal Shah. The firm plans to issue a total of 83.75 lakh equity shares. This includes a fresh issue of 50 lakh shares and an OFS of 33.75 lakh shares by the promoters. GYR Capital Advisors is the sole book-running lead manager for the IPO.

Sunshine Pictures' entry into the capital markets marks a notable shift, as entertainment companies rarely pursue public listings in India. With this move, the firm joins the growing list of non-traditional sectors tapping equity markets for growth capital.

Read More: Clean Energy IPOs on the Rise: Companies Plan to Raise ₹25,000 Crore This Fiscal!

Conclusion

The regulatory green lights for these IPOs point to SEBI’s consistent support for a wide range of industries looking to raise funds through the capital markets. From energy infrastructure and industrial engineering to the entertainment sector, these diverse offerings reflect rising investor appetite and reinforce confidence in India’s economic momentum. The successful listing of these companies could set the tone for future cross-sector IPO activity.

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