Lumino Industries Ltd. is a product-driven integrated EPC company engaged in manufacturing and supplying aluminium conductors, power cables, electrical wires, and specialised products for the power transmission and distribution industry. It also manufactures high-temperature low-sag (HTLS) conductors used in transmission and distribution lines.
The Company operates in two key segments:
- Manufacturing: Its manufacturing business includes aluminium conductors, power cables, and electrical wires.
- EPC: Its EPC business covers power transmission, EHV substations, railway electrification, solar power, and water management projects.
The Company supplies its products to major EPC players and power utilities in India, including Kalpataru Projects International Limited, Jakson Limited, K.G.N. Electricals, WRSS XXI (A) Transco Limited, Monte Carlo Limited, R.S. Infraprojects Private Limited, Assam Power Distribution Company Limited, Purvanchal Vidyut Vitran Nigam Limited, West Bengal State Electricity Distribution Company Limited and Kashmir Power Distribution Corporation Limited.
Lumino Industries has manufacturing facilities in Howrah, West Bengal, with an annual capacity of 40,000 MT for manufacturing cables and conductors. It supplies products to major EPC companies, power utilities, and international customers across the USA, Mali, Burkina Faso, Côte d’Ivoire, Nepal, Bangladesh, Kenya, Ghana, Rwanda, and Ethiopia.
As of March 31, 2026, the Company had 890 permanent employees.
Lumino Industries IPO – Details
| IPO Opening Date | 27 August 2026 |
| IPO Closing Date | 31 August 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 8,53,65,851 Shares Worth ₹700.00 Crore Fresh Issue: 6,09,75,609 Shares Worth ₹500.00 Crore Offer For Sale: 2,43,90,242 Shares Worth ₹200.00 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹78 – ₹82 per share |
| Market Lot | 182 Shares |
| Min Order | 182 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Lumino Industries IPO – Date Schedule
| IPO Open Date | 27 August 2026 |
| IPO Close Date | 31 August 2026 |
| Basis of Allotment | 01 September 2026 |
| Initiation of Refund | 02 September 2026 |
| Credit of Shares to Demat Account | 02 September 2026 |
| IPO Listing Date | 03 September 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 31, 2026 |
Lumino Industries IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 182 | ₹14,924 |
| Retail (Max) | 13 | 2,366 | ₹1,94,012 |
| S-HNI (Min) | 14 | 2,548 | ₹2,08,936 |
| S-HNI (Max) | 67 | 12,194 | ₹9,99,908 |
| B-HNI (Min) | 68 | 12,376 | ₹10,14,832 |
Competitive Strength
- A power EPC company with in-house manufacturing capabilities;
- Cost efficient business model with integrated business segments;
- Manufacturing facilities with diverse product offerings;
- Order book across various regions in India;
- Partnerships with global companies for advanced technology; and
- Promoters and management team, with operational and workforce oversight.
Company Promoters
- Purushottam Dass Goel
- Devendra Goel and Jay Goel
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹1,424.63 Cr | ₹1,308.67 Cr | ₹86.61 Cr | ₹40.91 Cr |
| 31 March 2025 | ₹1,946.68 Cr | ₹1,777.37 Cr | ₹124.59 Cr | ₹418.83 Cr |
| 31 March 2026 | ₹2,089.31 Cr | ₹1,884.54 Cr | ₹160.00 Cr | ₹384.16 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 24.62% |
| ROCE | 25.75% |
| RoNW | 24.62% |
| Debt/Equity | 0.53 |
| PAT Margin | 7.66% |
| EBITDA Margin | 11.71% |
| NAV | 29.95 |
| Price to Book Value | 2.74 |
| Pre IPO | Post IPO | |
| EPS (₹) | 6.57 | 5.25 |
| P/E (x) | 12.48 | 15.62 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the Company. | ₹337.00 |
| Capital expenditure by the Company for the purchase of equipment and machinery, civil works, and interior development of an existing manufacturing facility. | ₹15.01 |
| General corporate purposes. |
Lumino Industries IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Apar Industries Limited | 68.98 |
| 2 | 2 | Bajel Projects Limited | 108.66 |
| 3 | 2 | Kalpataru Projects International Limited | 22.13 |
| 4 | 2 | KEC International Limited | 19.81 |
| 5 | 2 | KEI Industries Limited | 58.79 |
| 6 | 10 | Universal Cables Limited | 35.51 |
| 7 | 2 | Techno Electric & Engineering Company Limited | 25.97 |
✅Strengths
- Integrated manufacturing and EPC business model.
- Diversified presence across power, solar and railway projects.
- Strong experience in conductors and power infrastructure.
- International presence and certified products.
- Growth opportunities from rising power sector investments.
⚠️Risks
- Intense competition and aggressive bidding pressure.
- Project delays may lead to penalties and disputes.
- Raw material price fluctuations may impact margins.
- Foreign currency fluctuations may affect earnings.
- Dependence on certifications and product quality standards.
Lumino Industries IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 71.97% |
Lumino Industries IPO Prospectus
Company Contact Information
| Lumino Industries Ltd. Unit No – 12/4, Merlin Acropolis 1858/1 Rajdanga Main Road, Kolkata, West Bengal, 700107 Phone: +91 33 2441 2008 Email: investor.relation@luminoindustries.com Website: https://luminoindustries.com/ |
Lumino Industries IPO Registrar
| Bigshare Services Pvt. Ltd. Phone: 8657578989/8069219065/8069219060 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Lumino Industries IPO Lead Manager(s)
| 1. JM Financial Limited 2. Monarch Networth Capital Ltd. 3. Motilal Oswal Investment Advisors Limited |
Lumino Industries IPO FAQs
| What is the Lumino Industries IPO? Lumino Industries IPO is a main-board IPO. The issue is priced at ₹78 to ₹82 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Lumino Industries IPO open? The IPO is to open on 27 August 2026 for QIB, NII, and Retail Investors. |
| What is Lumino Industries IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Lumino Industries IPO Size? Lumino Industries IPO size is ₹700.00 Crore. |
| What are the Lumino Industries IPO Minimum and maximum lot sizes for Retail? The minimum bid is 182 Shares with ₹14,924, while the maximum bid is 2366 Shares with ₹1,94,012. |
| What is the Lumino Industries IPO Allotment Date? Lumino Industries IPO allotment date is 01 September 2026. |
| What is the Lumino Industries IPO Listing Date? Lumino Industries IPO listing date is 03 September 2026. The IPO is to be listed on the BSE and the NSE. |
