Lumino Industries Sets IPO Price Band At ₹78-82 Per Share, Issue To Open On August 27
Lumino Industries sets IPO price band at Rs 78-82, with its Rs 700-crore issue opening August 27. Proceeds will fund debt repayment, capex and corporate needs.
(L–R) Mr. Hemant Bhuwania, CFO, Mr. Devendra Goel, MD & Mr. Jay Goel, Whole Time Director at the IPO Conference of Lumino Industries Ltd at Mumbai on Friday |
Kolkata: Lumino Industries Ltd on Friday fixed the price band for its maiden initial public offering at Rs 78-82 per equity share of face value Rs 5 each.
The Rs 700-crore issue will open for subscription on August 27, and close on August 31, the Kolkata-based company said in a statement.
The offer comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer-for-sale of up to Rs 200 crore by promoters.
Of the fresh issue proceeds, Rs 337 crore will be used for prepayment or repayment, in full or part, of certain outstanding borrowings, Rs 15.01 crore for capital expenditure towards purchase of equipment, machinery and civil works at an existing manufacturing facility, and the remainder for general corporate purposes, it said.
The company is a product-driven, integrated engineering, procurement and construction (EPC) player with focus on manufacturing and supplying conductors, power cables and electrical wires.
The equity shares are proposed to be listed on the BSE and NSE.
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