Lumino Industries IPO is set to open for subscription on August 27, 2026, with the company looking to raise approximately ₹700 crore through a combination of a fresh issue and an offer for sale. The IPO will close on August 31, 2026, and the shares are proposed to be listed on both the NSE and BSE.
The price band has been fixed at ₹78 to ₹82 per equity share. At the upper end of the price band, retail investors will need ₹14,924 for one lot of 182 shares.
Lumino Industries IPO: Key Details
| Particular | Details |
|---|---|
| Company | Lumino Industries Limited |
| IPO status | Upcoming |
| IPO opening date | August 27, 2026 |
| IPO closing date | August 31, 2026 |
| Price band | ₹78 – ₹82 per share |
| Face value | ₹5 per share |
| IPO size | ₹700 crore |
| Fresh issue | ₹500 crore |
| Offer for Sale | ₹200 crore |
| Lot size | 182 shares |
| Minimum investment | ₹14,924 |
| Listing | NSE, BSE |
| Basis of allotment | September 1, 2026 |
| Share credit/refund | September 2, 2026 |
| Expected listing date | September 3, 2026 |
The IPO is a book-built issue. The company is issuing fresh shares worth ₹500 crore, while shares worth approximately ₹200 crore will be offered for sale by promoter shareholders.
What Does Lumino Industries Do?
Lumino Industries is an integrated manufacturing and engineering, procurement and construction (EPC) company focused primarily on the power transmission and distribution industry.
Its manufacturing business includes conductors, power cables, electrical wires and HTLS conductors. Its EPC operations cover areas including power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management.
The company was incorporated in 2005 and operates manufacturing and warehousing facilities in India. As of March 31, 2026, it had 890 permanent employees.
Lumino Industries IPO: How Will the Money Be Used?
A significant portion of the fresh issue proceeds is intended for reducing debt.
Lumino Industries plans to use approximately:
- ₹337 crore for repayment or prepayment of certain borrowings
- ₹15.01 crore for equipment, machinery, civil works and interior development at an existing manufacturing facility
- The remaining proceeds for general corporate purposes
The debt repayment component is particularly important because reducing borrowings can help lower finance costs and strengthen the company’s balance sheet.
Lumino Industries Financial Performance
Lumino Industries reported growth in both revenue and profitability in FY2026.
| Financial Year | Revenue from Operations | Profit After Tax |
|---|---|---|
| FY2024 | ₹1,407.32 crore | ₹86.61 crore |
| FY2025 | ₹1,917.97 crore | ₹124.59 crore |
| FY2026 | ₹2,041.07 crore | ₹160.00 crore |
Total income increased from ₹1,946.68 crore in FY2025 to ₹2,089.31 crore in FY2026, while reported profit increased from ₹124.59 crore to approximately ₹160 crore.
The numbers show that profitability has grown faster than revenue in the latest financial year. That is a positive factor investors may consider when evaluating the IPO.
Lumino Industries Order Book
Lumino Industries had an order book of approximately ₹3,149.8 crore as of March 31, 2026, compared with ₹2,436.2 crore a year earlier.
A strong order book can provide visibility for future revenue, although actual performance will depend on the company’s ability to execute these projects profitably and on time.
Lumino Industries IPO Valuation
At the upper price band of ₹82, the IPO implies a post-issue market capitalisation of approximately ₹2,497 crore.
Based on FY2026 diluted earnings, the price band corresponds to a P/E multiple of approximately 11.87x at ₹78 and 12.48x at ₹82, according to the company’s offer-document-based disclosures.
The valuation should not be considered in isolation. Investors should compare Lumino Industries with companies operating in similar power, electrical equipment and EPC segments while also considering differences in business mix, margins, debt and growth.
Lumino Industries IPO: Strengths
1. Exposure to India’s power infrastructure
The company operates across power transmission and distribution, electrical manufacturing and EPC activities. Continued investment in power infrastructure could support demand for its products and services.
2. Growing order book
The order book increased to around ₹3,149.8 crore by March 2026, providing visibility for future project execution.
3. Improving profitability
PAT increased from ₹86.61 crore in FY2024 to ₹124.59 crore in FY2025 and ₹160 crore in FY2026.
4. Integrated business model
Lumino combines manufacturing with EPC activities, allowing it to participate in different parts of the power infrastructure value chain.
Lumino Industries IPO: Risks to Consider
Debt and interest costs
A large portion of the fresh issue is being used for debt repayment. This can strengthen the balance sheet, but investors should examine the company’s borrowing levels and finance costs carefully.
Project execution risk
The EPC business depends on timely project execution. Delays, cost overruns or changes in project schedules could affect profitability.
Customer concentration
The company supplies products and services to large EPC players and other institutional customers. Dependence on major customers can create concentration risk.
Working-capital requirements
Manufacturing and EPC businesses can require significant working capital. Investors should monitor receivables, inventory and operating cash flows rather than focusing only on reported profit.
Competitive industry
Lumino operates in sectors that include established electrical equipment manufacturers and EPC companies. Competition can affect pricing, margins and order wins.
Lumino Industries IPO GMP
The grey market premium (GMP) is an unofficial indicator based on transactions outside the formal stock-exchange IPO process.
Reported GMP figures can change rapidly and are not guaranteed to reflect the eventual listing price. Investors should therefore avoid treating GMP as a measure of the company’s fundamental value.
For an Eversite IPO page, it is better to update GMP separately each day rather than presenting a single figure as if it were guaranteed.
Lumino Industries IPO Allotment Date
The tentative allotment date is September 1, 2026.
Investors who receive an allotment are expected to have their shares credited to their demat accounts on September 2, while the IPO is scheduled to list on September 3, 2026.
Investors can check their allotment status through the IPO registrar or the relevant exchange once the allotment process is completed.
Should You Apply for Lumino Industries IPO?
Lumino Industries presents a combination of power-infrastructure exposure, a growing order book and improving profitability. The proposed use of a substantial part of the fresh issue for debt repayment is also relevant to the company’s balance-sheet position.
At the same time, investors should examine the company’s EPC execution risks, customer concentration, working-capital requirements and competitive environment before making an investment decision.
The IPO’s valuation at the upper price band should also be assessed against comparable listed companies rather than relying solely on the headline P/E multiple.
Overall, Lumino Industries IPO is worth studying for investors interested in the power transmission, electrical manufacturing and EPC sectors, but the decision to apply should depend on individual risk tolerance, valuation expectations and investment horizon.
Lumino Industries IPO Important Dates
| Event | Date |
|---|---|
| IPO opens | August 27, 2026 |
| IPO closes | August 31, 2026 |
| Allotment | September 1, 2026 |
| Refund initiation | September 2, 2026 |
| Shares credited | September 2, 2026 |
| Listing | September 3, 2026 |
Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice. IPO dates, financial information, GMP and other details can change. Investors should read the company’s Red Herring Prospectus and other official disclosures before making an investment decision.