Lumino Industries IPO listing tomorrow: Here’s what GMP hints ahead of debut

Lumino Industries IPO listing: Shares of Lumino Industries are slated to list in the Indian stock market tomorrow (Thursday, 3 September). Lumino Industries IPO GMP today, or grey market premium, is +37.

Lumino Industries IPO allotment was finalised on Tuesday, 1 September. Those who have been allocated shares can expect them to be credited to their demat accounts today, Wednesday, 2 September. Those who have not yet received their shares can also expect to receive the refund today.

The product-driven integrated engineering, procurement and construction (EPC) player launched its IPO for subscription from Thursday, 27 August, to Monday, 31 August. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed to their portion 176.42 times. Qualified institutional buyers (QIBs) quota was booked 221.43 times.

Retail investors' segment showed a subscription rate of 38.50 times. Notably, on the third day of the offer, Lumino Industries IPO subscription status stood at 118.12 times, as reported by the NSE.

Lumino Industries IPO price band was fixed in the range of ₹78 to ₹82 per equity share of the face value of ₹5. The Lumino Industries IPO lot size is 182 equity shares and in multiples of 182 equity shares thereafter.

Lumino Industries IPO reserved not more than 50% of the shares in the public issue for QIB, not less than 15% for NIIs, and not less than 35% of the offer is reserved for retail investors.

Lumino Industries IPO GMP today

Lumino Industries IPO GMP today, or grey market premium, is +37. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Lumino Industries share price was indicated at ₹119 apiece, which is 45.12% higher than the IPO price of ₹82.

Based on grey market trends over the past 13 sessions, today’s IPO GMP appears to be declining and is likely to fall further. Throughout this timeframe, the GMP fluctuated between ₹37.00 and ₹63, according to experts.

Lumino Industries IPO details

The IPO comprises a fresh issue of equity shares worth up to ₹500 crore and an offer-for-sale (OFS) of up to ₹200 crore by promoters Devendra Goel and Jay Goel.

Of the fresh issue proceeds, ₹337 crore will be used to repay debt, while ₹15 crore will be allocated towards capital expenditure, including the purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility. The remaining proceeds will be utilised for general corporate purposes.

Lumino Industries is an integrated, product-driven engineering, procurement and construction (EPC) company in India.

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

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