Lumino Industries IPO

Lumino Industries IPO Details

The Lumino Industries IPO is a 100% book-built issue aiming to raise ₹1,000 crore, comprising a fresh issue of ₹600 crore and an offer for sale (OFS) of ₹400 crore, with a face value of ₹5 per share. The company filed its DRHP with SEBI on January 20, 2025.

The price band and official dates of listing and subscription will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book running lead managers (BRLMs) for this issue are Motilal Oswal Investment Advisors Ltd., JM Financial Ltd. and Monarch Networth Capital Ltd., while the registrar to the issue is Bigshare Services Private Ltd.

Lumino Industries IPO Date & Timeline

Lumino Industries Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on January 20, 2025. However, the specific Lumino Industries IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalize the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.

Lumino Industries IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Lumino Industries IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Lumino Industries Ltd. was incorporated on March 30, 2005, in Kolkata, West Bengal, having roots dating back to 1989 as a partnership firm. Over the decades, the enterprise has evolved from a traditional manufacturer into an integrated, product-driven EPC player. The company has executed critical projects across India's power distribution sector and it is expanding into international markets.

They also manufacture high-temperature low-sag (“HTLS”) conductors used in distribution and transmission lines in India. As the fastest-growing player in the conductor, power cable and power EPC industries, the company has received several certificates, including Underwriter’s Laboratories Standards Certificate, which shows their ability to comply with stringent safety and regulatory standards.

Operations & Product Range

Lumino Industries Ltd. combines the manufacturing of electrical components with EPC execution. The company produces aluminium conductors, power cables and electrical wires under its 'Lumicon' brand. A specialised segment involves manufacturing high-temperature, low-sag (HTLS) conductors for efficient power transmission. On the EPC side, operations encompass power distribution, extra-high voltage (EHV) substations, railway electrification, solar projects and HTLS re-conductoring.

Facilities & Capacity

Lumino Industries Ltd. operates two advanced manufacturing units in Howrah, West Bengal. These facilities have an annual combined capacity of 40,000 MT for aluminium processing. The manufacturing operations are supported by a warehousing network covering approximately 110,000 square feet, ensuring efficient inventory management and timely delivery.

Brands & Market Presence

Lumino Industries Ltd. operates under its brand name 'Lumicon' and holds a recognised position within the B2B power infrastructure sector. India serves as the anchor for Lumino's market presence, catering to major government utilities. Beyond domestic exposure, the company exports products to countries like the USA, Nepal, Ghana and Rwanda. The brand holds ISO, NABL and UL certifications.

Revenue Streams & Business Model

Lumino Industries Ltd. generates revenue through the direct sale of manufactured electrical products and the execution of turnkey EPC contracts. The company operates two manufacturing facilities in Kolkata. The company follows a product-driven business model that focuses on designing, engineering, manufacturing and distributing specialised products. Manufacturing a significant portion of its EPC requirements in-house (over 62% in Fiscal 2024), Lumino optimises costs. Total income surged from ₹773.10 crore in FY23 to ₹1,427.03 crore in FY24. The revenue stream is dependent on government and institutional spending on power infrastructure.

Management & Shareholding

The shareholding structure of Lumino Industries Ltd. is closely held by its founding promoters, who bring decades of experience to the power sector. Before the IPO, the promoters held a significant stake in their hands, but after the IPO, the promoters will face dilution in their ownership, as this offering comprises a fresh issue, which invites new shareholders into the company.

Board & Key Management

The leadership of Lumino Industries Ltd. is led by a team of experts with many years of experience. Purushottam Dass Goel serves as the Chairman and gives strategic direction to the firm. The daily operations are managed by Devendra Goel, the Managing Director, along with Whole-Time Director Jay Goel. To ensure good governance, the board includes Independent Directors, Hemant Sultania and Amitabh Mathur, for oversight. Together, this team uses its knowledge to help the company grow and stay successful.