Lumino Industries IPO
Lumino Industries, founded in 2005, is one of the leading engineering, procurement, and construction (EPC) companies involved in the manufacturing and supply of conductors, power cables, electrical wires, and specialised components. The firm makes high-temperature, low-sag (HTLS) conductors for distribution and transmission lines, making Lumino the fastest-growing player in the conductors, power cables, and EPC industry.
IPO GMP
+₹38
+46% expected gain
Price Band
₹78 - ₹82
Lot Size
182 shares
Min Investment
₹14,924
Listing Date
September 3, 2026
About Lumino Industries
Company overview, business, and key facts.
Lumino Industries, founded in 2005, is one of the leading engineering, procurement, and construction (EPC) companies involved in the manufacturing and supply of conductors, power cables, electrical wires, and specialised components. The firm makes high-temperature, low-sag (HTLS) conductors for distribution and transmission lines, making Lumino the fastest-growing player in the conductors, power cables, and EPC industry.
Its product portfolio includes Aluminium conductors, Power Cables, and electrical wires used in power distribution, industrial, renewable energy, and communication works. The firm runs its 2 manufacturing facilities in Howrah, West Bengal, and supplies its products to international clients, including government-owned electricity companies in countries like the USA, Nepal, and Ghana.
Founded
2005
Headquarters
Kolkata, West Bengal
Promoters
Purushottam Dass Goel, Devendra Goel, Jay Goel
Website
http://www.luminoindustries.com/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Strengths & Risks
Strengths
- Integrated Manufacturing Facilities: The Company has well-built manufacturing facilities with wide variety of products which helps in producing high quality specialized products, including that for use in the Company’s EPC projects.
- Effective Strategic Partnership: Strategic partnership with prominent international firms would help in integrating technology available with partners with the Company’s project management and engineering, construction and market knowledge in order to provide the effective solutions to the clients.
- Experienced Management and Trained Workforce: Promoters with experienced management team having more than three decades of collective experience in power infrastructure industry with good customer relations and operational expertise.
Risks
- Price and Availability Risk of Raw Materials: Fluctuation in price and availability of aluminum, steel, copper, XLPE and PVC compounds can result in increased cost.
- EPC Contract Risk: Revenues from EPC activities depend on the Company being able to secure such contracts by way of competitive bidding process. Competitive bidding in the power transmission and distribution market may lead to fluctuations in the results and cash flow.
- Working Capital Intensive Business: This is a working capital intensive business due to large trade receivables and inventories. Delay in receiving payments from customers or inability to arrange for suitable finance may affect the business.
Financials
Restated summary financials for the most recent periods.
Figures are indicative and restated for presentation.
Lumino Industries IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Market cap at upper band
₹2,497.3 Cr
Post-IPO shares × upper price band
P/E on 2026 profit
15.6x
Peer median 35.5x (discount of 56.1%)
Price to sales
1.2x
Revenue growth, 2026
+7.3%
21.1% a year over the period
Profit growth, 2026
+28.4%
35.9% a year over the period
Profit margin (PAT)
7.7%
EBITDA margin 11.71%
ROE / ROCE
24.62% / 25.75%
As published in the offer document
Debt to equity
0.53
Issue mix
71.4% fresh / 28.6% sale
Fresh issue goes to the company, offer for sale to selling shareholders
GMP-implied gain per lot
₹6,916
182 shares on ₹14,924. GMP is unofficial.
What stands out
- Profit grew 28.4% in 2026.
- Priced at a 56.1% discount to the peer median P/E of 35.5.
Watch-outs
- 95.7% of the disclosed use of proceeds is debt repayment.
- 1 use-of-proceeds item(s) have no disclosed amount.
- GMP has fallen 32.1% from its peak of ₹56 to ₹38.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
IPO Analysis SummaryAI-generated
A plain-language review of Lumino Industries's financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
Lumino Industries IPO Review
Analysis based on live GMP, subscription, and issue details.
As of today, Lumino Industries IPO is trading at a grey market premium (GMP) of +₹38 (+46% estimated listing gain), indicating positive market sentiment.
The IPO has been subscribed 117.69x overall — QIB: 221.43x, NII: 175.99x, Retail: 37.82x.
Lumino Industries IPO subscription has closed. The shares are expected to list on September 3, 2026.
The minimum investment required is ₹14,924 for 182 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Key strengths include: Integrated Manufacturing Facilities: The Company has well-built manufacturing facilities with wide variety of products which helps in producing high quality specialized products, including that for use in the Company’s EPC projects.; Effective Strategic Partnership: Strategic partnership with prominent international firms would help in integrating technology available with partners with the Company’s project management and engineering, construction and market knowledge in order to provide the effective solutions to the clients.. Investors should note the following risks: Price and Availability Risk of Raw Materials: Fluctuation in price and availability of aluminum, steel, copper, XLPE and PVC compounds can result in increased cost.; EPC Contract Risk: Revenues from EPC activities depend on the Company being able to secure such contracts by way of competitive bidding process. Competitive bidding in the power transmission and distribution market may lead to fluctuations in the results and cash flow..
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
Lumino Industries IPO — Frequently Asked Questions
What is Lumino Industries IPO GMP today?
Lumino Industries IPO GMP (grey market premium) today is +₹38, suggesting an estimated listing gain of +46%. GMP is indicative and subject to change.
What is the price band of Lumino Industries IPO?
The price band for Lumino Industries IPO is ₹78 - ₹82 with a lot size of 182 shares. The minimum investment required is ₹14,924.
When is Lumino Industries IPO allotment date?
Lumino Industries IPO allotment is expected to be finalised on September 1, 2026. You can check your allotment status on the registrar's website (Bigshare Services Pvt. Ltd.) using your PAN number.
When will Lumino Industries IPO list on NSE/BSE?
Lumino Industries IPO is expected to list on BSE, NSE on September 3, 2026.
How to check Lumino Industries IPO allotment status?
To check Lumino Industries IPO allotment status, visit the registrar's website (Bigshare Services Pvt. Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for Lumino Industries IPO?
Lumino Industries IPO is showing a strong GMP of +₹38 (+46%), indicating positive market sentiment for listing gains. However, GMP is informal and not a guarantee of returns. Evaluate the company's fundamentals, price band, and your own risk appetite before applying. IPOLyst is not a SEBI-registered investment advisor — please do your own research.
What is the lot size of Lumino Industries IPO?
The lot size for Lumino Industries IPO is 182 shares per lot. The minimum investment for retail investors is ₹14,924. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.