Power cables and electrical wires maker Lumino Industries, which will launch its ₹700-crore initial public offer (IPO) on August 27, has fixed the price band of ₹78-82 per equity share for its maiden offer.
The offer, with a face value of ₹5 per equity share, of the Kolkata-based company comprises a fresh issue up to ₹500 crore and an offer for sale up to ₹200 crore by promoters – Devendra Goel and Jay Goel.
The proceeds from its fresh issuance worth ₹337 crore will be utilized for prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company, and around ₹15 crore for capital expenditure by the company for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility, and general corporate purposes.
Addressing a media conference on Friday, the company informed that its new facility in West Bengal is expected to come in the second half of the current financial year. This new facility will help the company expand its product range.
“We have two verticals. One is the product, and the other is the EPC. In the product, we manufacture cables, which are used for power centres. We manufacture conductors, which again is used for power centres. The other vertical is EPC. Around 70 per cent of the revenue comes from the product, and 30 per cent of the revenue comes from the EPC. The product that we manufacture is also used in our EPC. So there is a unique integration between the product that we manufacture and the EPCs that we do,” said Devendra Goel Managing Director, Lumino Industries.
Currently, the company has two manufacturing plants in Kolkata, with an overall installed capacity of 40,000 tonnes annually. “The new manufacturing facility will help us add additional capacities and capture the growing market,” Goel said.
The company is trying to increase its global footprints. “We are trying to increase our export revenues by increasing the export shares,” the Managing Director said. The company plans to increase exports to the US and African markets, among others.
The company’s maiden offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 50 per cent of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 15 per cent to non-institutional bidders (NIIs), and not less than 35 per cent to retail individual bidders (RIIs).
Investors can bid for a minimum of 182 equity shares and in multiples of 182 equity shares thereafter. The equity shares of the company are proposed to be listed on BSE and NSE.
Motilal Oswal Investment Advisors Limited, JM Financial Limited and Monarch Networth Capital Limited are the book running lead managers to the offer, which will close on August 31, 2026.
Published on August 21, 2026
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