Lumino Industries Limited, an integrated engineering, procurement, and construction (EPC) company focused on the power transmission and distribution sector, is launching its initial public offering (IPO) on the mainboard segment of the stock exchanges. The IPO gives investors a window to bid for shares before the company lists. Below is a complete, easy-to-read breakdown of the price band, key dates, lot size, issue structure, and business snapshot of the Lumino Industries IPO 2026.
Lumino Industries IPO: Key Details at a Glance
IPO Opening Date | Thursday, August 27, 2026 |
IPO Closing Date | Monday, August 31, 2026 |
Price Band | ₹78 to ₹82 per equity share |
Face Value | ₹5 per equity share |
Lot Size | 182 equity shares |
Minimum Retail Investment | 1 lot (182 shares) = ₹14,924 at upper price band |
Maximum Retail Investment | 13 lots (2,366 shares) = ₹1,94,012 |
Issue Type | Book-Built Issue (Fresh Issue + Offer for Sale) |
Total Issue Size | Approx. 8,53,65,851 equity shares aggregating up to ₹700 crore |
Fresh Issue | Up to ₹500 crore (approx. 6,09,75,609 shares) |
Offer for Sale (OFS) | Up to ₹200 crore (approx. 2,43,90,244 shares), by promoter selling shareholders |
Listing Exchange | BSE and NSE (Mainboard) |
QIB Quota | Up to 50% of the net offer |
Retail Investor Quota | At least 35% of the net offer |
Non-Institutional Investor (NII) Quota | At least 15% of the net offer |
Tentative Allotment Date | Tuesday, September 1, 2026 |
Refund / Demat Credit | Wednesday, September 2, 2026 |
Tentative Listing Date | Thursday, September 3, 2026 |
Registrar to the Issue | Bigshare Services Private Limited |
Book Running Lead Managers | Motilal Oswal Investment Advisors, JM Financial, and Monarch Networth Capital |
Price Band and Lot Size Explained
The price band for the Lumino Industries IPO has been fixed at ₹78 (lower end) to ₹82 (upper end) per equity share, with a face value of ₹5 each. The applicable lot size is 182 equity shares, and retail investors can apply for a minimum of 1 lot and a maximum of 13 lots. Key points to note:
• Minimum lot: 182 shares → ₹14,196 (lower band) to ₹14,924 (upper band)
• Maximum retail application: 13 lots (2,366 shares) → up to ₹1,94,012
• Retail investor quota: at least 35% of the net offer
• Qualified Institutional Buyer (QIB) quota: up to 50% of the net offer
• Non-Institutional Investor (NII) quota: at least 15% of the net offer
• Application modes: ASBA (through net banking) or UPI (through brokers)
IPO Structure and Objects of the Issue
The Lumino Industries IPO is a book-built issue combining a fresh issue of shares worth up to ₹500 crore with an offer for sale (OFS) worth up to ₹200 crore by promoter selling shareholders. As the OFS portion goes to selling shareholders, only the fresh issue proceeds will be available to the company. As per the offer documents, the net proceeds from the fresh issue are proposed to be used for:
• Debt repayment: Pre-payment or repayment, in full or in part, of certain outstanding borrowings availed by the company
• Capital expenditure: Purchase of equipment and machinery, along with civil works and interior development, for an existing manufacturing facility
• General corporate purposes: Remaining proceeds for general corporate needs
Financial Performance
As per the offer documents, Lumino Industries has shown consistent growth in profitability over the last three financial years:
• Net Profit (PAT): Grew from ₹86.61 crore in FY24 to ₹124.59 crore in FY25, and further to ₹160.00 crore in FY26
• Revenue: Grew from ₹1,424.63 crore in FY24 to ₹2,089.31 crore in FY26
• Return ratios: RoCE stood at 31.89% in FY25 (25.75% in FY26); RoE improved to 24.62% in FY26; PAT margin was 7.66% in FY26
• Valuation snapshot: At the upper price band of ₹82, the implied P/E works out to approximately 15.62 times, based on an EPS of about ₹5.25
How to Apply for the Lumino Industries IPO
• Step 1: Log in to your broker's trading app or your bank's net banking/ASBA facility
• Step 2: Search for 'Lumino Industries Limited' in the IPO section
• Step 3: Select the number of lots (minimum 1 lot, maximum 13 lots for retail investors) within the price band
• Step 4: Enter your UPI ID (for UPI applications) or authorise via ASBA
• Step 5: Approve the mandate request in your UPI app to block the application amount
• Step 6: Track allotment status on the registrar's website using PAN, application number, or DP/Client ID
Points Investors Should Note
• Government revenue dependency: The company derived 53.12%, 79.89%, and 85.58% of its revenue from operations from government entities (state-owned electricity boards and public sector power utilities) in FY26, FY25, and FY24 respectively.
• Outstanding borrowings: As of July 31, 2026, the company had aggregate outstanding borrowings of ₹1,856.78 crore, and any difficulty in servicing this debt could affect its business and financial condition
• Partial OFS component: A portion of the issue (₹200 crore) is an offer for sale, meaning that part of the proceeds goes to promoter selling shareholders rather than the company
• Return ratio trend: RoCE declined from 31.89% in FY25 to 25.75% in FY26, a trend worth tracking
• Read the RHP: Interested applicants are encouraged to go through the company's Red Herring Prospectus (RHP) for complete details before making any decisions
Frequently Asked Questions (FAQs)
1. When does the Lumino Industries IPO open and close?
The IPO opens for subscription on August 27, 2026, and closes on August 31, 2026.
2. What is the price band of the Lumino Industries IPO?
The price band is fixed at ₹78 to ₹82 per equity share, with a face value of ₹5 per share.
3. What is the lot size for this IPO?
The lot size is 182 equity shares. Retail investors can apply for a minimum of 1 lot and up to a maximum of 13 lots.
4. What is the minimum investment amount required?
At the upper price band, the minimum investment is ₹14,924 for 1 lot (182 shares).
5. What is the total issue size of the IPO?
The total issue size is up to ₹700 crore, comprising a fresh issue of up to ₹500 crore and an offer for sale of up to ₹200 crore.
6. On which exchange will Lumino Industries shares be listed?
The shares are proposed to be listed on both the BSE and NSE, with a tentative listing date of September 3, 2026.
7. When will the IPO allotment be finalised?
The basis of allotment is tentatively scheduled to be finalised on September 1, 2026.
8. Who is the registrar for the Lumino Industries IPO?
Bigshare Services Private Limited is the registrar to the issue.
9. How can I apply for the IPO?
Applications can be made online through ASBA via net banking or through UPI-enabled broker platforms during the subscription window.
10. What does Lumino Industries Limited do?
The company is an integrated EPC and manufacturing player in the power transmission and distribution sector, producing conductors, power cables, electrical wires, and HTLS conductors, and executing EPC projects in India and select international markets.
Disclaimer:
This is written for educational and informational purposes only. Nothing here constitutes investment advice or a recommendation to buy or sell securities. All data is sourced from publicly available information. Investments in securities markets are subject to market risks — please read all offer documents carefully before investing.