BY THE NUMBERS.
TICKET CLASSES.
HOW FULL THE BUS GOT.
WHAT THE CHATTER IMPLIES.
GMP +₹37 (+45.12%)
RECORDED 02 SEPT 2026, 21:58 IST
HOW THE ISSUE IS BUILT.
The two legs send the money to different places: a fresh issue raises new capital for the company, while an offer for sale is existing shares being sold by existing shareholders, whose proceeds go to those sellers and not to the company.
WHO GETS WHICH SEATS.
ON THE DASHBOARD.
THE RUNNING RECORD.
WHO ELSE RUNS THIS LINE.
Notes: All the financial information for listed industry peers mentioned above is on an audited consolidated basis and sourced from the audited financial statements of the relevant companies for Fiscal 2026, as available on the websites of the Stock Exchanges. Details for our Company have been sourced/ calculated from the Restated Consolidated Financial Information. Diluted EPS refers to the Diluted EPS sourced from the publicly available financial results of the listed industry peers for Fiscal 2026. P/E Ratio for the listed industry peers has been computed based on the closing market price of equity shares on NSE as on August 11, 2026, divided by the diluted EPS. Return on Net Worth = PAT (Profit / (loss) for the year from continuing operations) / Average of Tangible net worth (Tangible net worth: Total equity- intangible assets - Intangible Assets under Development). Net Asset Value (per share) is calculated as tangible net worth at the end of the period/ year divided by number of equity shares outstanding at the end of the period/ year.
WHAT THE MONEY IS FOR.
Lumino Industries Limited is an engineering-led manufacturing and EPC company serving India's power transmission and distribution sector. The company manufactures and supplies a wide range of products, including aluminium conductors, power cables, electrical wires, and other specialised components, while also undertaking infrastructure projects across the power and energy value chain. The company has built a product-centric business model focused on the design, production, and supply of solutions for power distribution, industrial applications, renewable energy projects, and communication infrastructure. It is also among the fastest-growing companies in the conductors, power cables, and EPC segments, supported by its integrated manufacturing capabilities and execution expertise. Lumino manufactures advanced High-Temperature Low-Sag (HTLS) conductors used in power transmission and distribution networks and supplies products to both domestic and international customers. Its overseas clientele includes government-owned electricity utilities and power companies in countries such as the United States, Nepal, and Ghana. During Fiscal 2024, approximately 62.38% of the products used in its EPC projects were manufactured internally. The company markets its electrical wire products under the “Lumicon” brand and operates through a distribution network spanning four Indian states, supported by approximately 122 distributors. Lumino operates two manufacturing facilities in Howrah, West Bengal, with a combined aluminium processing capacity of 40,000 metric tonnes (MT) per annum. The company also maintains three warehouses with a total storage area of approximately 110,000 square feet. Business Segments: Manufacturing: The manufacturing division produces aluminium conductors, power cables, and electrical wires, catering to utilities, industrial customers, infrastructure developers, and power transmission projects. The company's electrical wire portfolio is marketed under the "Lumicon" brand. EPC Projects: The EPC segment undertakes projects across power distribution networks, extra-high-voltage (EHV) substations, HTLS re-conductoring, railway electrification, and solar power infrastructure. The company serves customers in India and overseas markets, including Rwanda, delivering end-to-end project execution services. Product Portfolio: Aluminium Conductors: Used for efficient transmission of electricity through overhead power lines, these conductors are deployed in transmission and distribution networks, power generation facilities, and industrial applications. Power Cables: The company manufactures a range of power cables, including low-voltage cables, aerial bundled cables, railway signalling cables, and concentric cables, used across industrial, commercial, and utility applications. Electrical Wires: Introduced under the “Lumicon” brand in 2023, the wire portfolio includes house wires, earth wires, and thermoset insulated wires designed for residential, commercial, and industrial use. Key Strengths: One of the fastest-growing companies in the power EPC and transmission infrastructure sector, supported by strong in-house manufacturing capabilities. Integrated and cost-efficient business model combining manufacturing and EPC operations. Modern manufacturing infrastructure with a diversified and comprehensive product portfolio. Healthy and diversified order book providing long-term revenue visibility. Strategic partnerships and business relationships with leading domestic and international organisations. Experienced promoters, professional management team, and skilled workforce driving operational excellence.
ON THE ROSTER.
COMMON QUESTIONS.
What is the Lumino Industries IPO price band?+
The indicative price band is ₹82 per share. The binding terms are the ones in the Red Herring Prospectus (RHP).
What is the lot size of the Lumino Industries IPO?+
One lot is 182 shares. At the upper band of ₹82, one lot works out to ₹14,924.
How many lots can a retail investor apply for in the Lumino Industries IPO?+
A retail application runs from 1 lot (182 shares, ₹14,924) up to 13 lots (2,366 shares, ₹1,94,012) — the most that fits under SEBI's ₹2 lakh retail ceiling.
What is the minimum HNI application in the Lumino Industries IPO?+
A small-HNI (sHNI) application starts at 14 lots — 2,548 shares, ₹2,08,936. A big-HNI (bHNI) application starts at 68 lots — 12,376 shares, ₹10,14,832, above the ₹10 lakh boundary.
When does the Lumino Industries IPO open and close?+
The issue opened on 27 Aug 2026 and closed on 31 Aug 2026. Dates can move — the registrar and the exchange notices are the record.
When is the Lumino Industries IPO allotment?+
Allotment is scheduled for 01 Sept 2026. The basis of allotment is published by the registrar to the issue. BuyUnlistedShares does not accept, process or track IPO applications.
When does Lumino Industries list?+
Listing is scheduled for 03 Sept 2026 on NSE, BSE.
Where will Lumino Industries be listed?+
Lumino Industries is proposed for listing on NSE, BSE. It is a mainboard issue.
How large is the Lumino Industries IPO?+
The issue size is ₹700.00 Cr — a fresh issue of ₹500 cr and an offer for sale of ₹200 cr. Figures are indicative and subject to the RHP.
What is the difference between the fresh issue and the offer for sale in the Lumino Industries IPO?+
Money raised through the fresh issue goes to the company, which spends it on the purposes set out in the offer document. Money raised through the offer for sale goes to the shareholders who are selling, not to the company. That is a fact about how the issue is structured, not a view on it.
What is the grey market premium (GMP) for the Lumino Industries IPO?+
The last GMP we recorded is +₹37 (+45.12%), as at 02 SEPT 2026, 21:58 IST. GMP is unofficial grey-market chatter. It is not a quote from any exchange, it is not a price anyone is obliged to honour, it moves through the day and it often does not match the eventual listing price. We publish it as information only.
What listing price does the GMP imply for Lumino Industries?+
Adding the last recorded GMP to the upper band gives ₹119. That is a calculation, not a forecast or an investment recommendation, and it is built on an unofficial grey-market figure.
How was the Lumino Industries IPO subscribed?+
The issue was subscribed 124.02× overall. By category: qib 232.79×, nii 185.21×, small hni 151.82×, big hni 201.9×, retail 40.27×. Subscription figures are as reported by the exchanges.
Who is the registrar for the Lumino Industries IPO?+
The registrar to the issue is Bigshare Services Pvt.Ltd. (8657578989/8069219065/8069219060), ipo@bigshareonline.com.