New Delhi, Aug 21: Lumino Industries Ltd will launch its Rs 700 crore Initial Public Offering (IPO) on August 27, with the company looking to use the fresh issue proceeds to pare debt, buy equipment and machinery, and upgrade an existing manufacturing facility.

The price band has been fixed at Rs 78-82 per share, valuing the company at around Rs 2,500 crore at the higher end.

The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an Offer For Sale (OFS) of shares aggregating up to Rs 200 crore, according to a public announcement on Friday.

IPO details and utilisation

The bidding will close on August 31, while the anchor investor bidding will take place on August 25.

Proceeds from the fresh issue will be used for payment of debt, purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility; and general corporate purposes.

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Company profile and clients

Lumino Industries Ltd is a product-centric, integrated Engineering, Procurement, and Construction (EPC) company in India, specialising in the manufacturing and supply of conductors, power cables, electrical wires, and other specialised components for the power distribution and transmission sector.

The company also manufactures high-temperature low-sag (HTLS) conductors, essential for transmission and distribution lines.

The company caters to a wide range of clients, supplying conductors, power cables, and specialised products to leading EPC players such as Kalpataru Projects International Ltd, Jackson Ltd, Warora Kurnool Transmission Ltd, and Monte Carlo Ltd.

Internationally, its clientele includes government-owned utilities and electricity boards in countries like the United States, Nepal, Bangladesh, Kenya, Ghana, Rwanda, and Ethiopia.

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Investor allocation and listing

Of the issue, 50 per cent has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs) and 35 per cent for retail investors.

The equity shares are proposed to be listed on both BSE and NSE on September 3. Motilal Oswal, JM Financial and Monarch Networth Capital are the book-running lead managers to the issue, while Bigshare Services is the registrar.

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

Lumino Industries IPO: Fresh Issue To Fund Debt Repayment, Machinery Purchase And Facility Upgrade

Power sector EPC company Lumino Industries will launch its ₹700 crore IPO on August 27. The issue includes a fresh share sale of ₹500 crore and an OFS of ₹200 crore. Proceeds will be used for debt reduction, machinery purchase and facility upgrades. Shares are expected to list on September 3.