Lumino Industries IPO listing: Shares make debut at 34% premium, lists at ₹110 per share

Lumino Industries IPO listing: Lumino Industries share price made a strong debut in the Indian stock on Thursday, 3 September. Lumino Industries share price listed at 34.15% premium over the IPO price of ₹82.

Lumino Industries share price opened at ₹110 per share on NSE and ₹109 on NSE.

The listing of Lumino Industries IPO came below the market expectations. The GMP of Lumino Industries IPO was ₹39.5 ahead of listing, indicating an estimated listing price of ₹121.5.

Lumino Industries IPO details

The product-focused integrated engineering, procurement and construction (EPC) company opened its initial public offering (IPO) for subscription on Thursday, August 27, with the bidding window closing on Monday, August 31. The issue witnessed strong demand throughout the three-day bidding period, led by non-institutional investors (NIIs), whose reserved portion was subscribed 176.42 times. The qualified institutional buyers (QIBs) category was subscribed 221.43 times, while the retail investor segment saw 38.50 times subscription. According to NSE data, the Lumino Industries IPO had been subscribed 118.12 times by the third day of the issue.

The price band for the Lumino Industries IPO was set at ₹78– ₹82 per equity share, with each share carrying a face value of ₹5. The lot size was fixed at 182 equity shares, with investors allowed to bid in multiples of 182 shares thereafter.

Under the issue structure, up to 50% of the shares were reserved for QIBs, at least 15% for NIIs, and a minimum of 35% for retail investors.

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

The company plans to utilise ₹337 crore from the fresh issue proceeds towards debt repayment. Another ₹15 crore will be spent on capital expenditure, covering the purchase of equipment and machinery, civil works and interior development at an existing manufacturing facility. The balance funds will be deployed for general corporate purposes.

Motilal Oswal Investment Advisors Ltd is acting as the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd has been appointed as the registrar to the issue.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.