Lumino Industries Powers Up for 1,000 Crore IPO Surge

Conductors and power cables manufacturer Lumino Industries plans to raise 1,000 crore through an IPO. The offering includes a fresh issue and an offer-for-sale by promoters. Proceeds will address corporate debt, facility upgrades, and miscellaneous expenses. The company showcases significant growth and an expanding order book.

Lumino Industries, a Kolkata-based manufacturer specializing in conductors and power cables, has filed with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) aiming to raise Rs 1,000 crore.

The IPO will feature a fresh issue of shares valued at Rs 600 crore and an offer-for-sale segment of Rs 400 crore from its promoters, Devendra Goel and Jay Goel. The company has reserved a portion of the subscription for eligible employees.

The capital raised will be directed towards corporate debt repayment, acquiring machinery, and upgrading its manufacturing facilities, alongside other general corporate purposes. Lumino's client base spans several international utilities, and it reported a significant rise in revenue and profits in fiscal 2024.

(With inputs from agencies.)