Lumino Industries IPO Details: Key Dates, Price Band & Investment Overview

By Wealthova | Last Updated: August 21, 2026

Lumino Industries Limited, an established integrated Engineering, Procurement, and Construction (EPC) company specializing in India’s power transmission sector since 2005, is gearing up to make its primary market debut with an upcoming ₹700.00 Crore mainboard IPO. Known for manufacturing a wide range of conductors, power cables, and electrical wires, alongside executing complex EPC projects for railways and solar infrastructure, the company operates a robust dual-business model serving major utility and international clients. The subscription window for this book-built issue opens on August 27 and closes on August 31, 2026. The price band is set between ₹78 to ₹82 per equity share, comprising a fresh issue of ₹500.00 Crore and an Offer for Sale (OFS) of ₹200.00 Crore. The company plans to utilize the fresh capital primarily to strengthen its balance sheet—allocating ₹337.00 Crore for the repayment or prepayment of outstanding borrowings—alongside ₹15.01 Crore for capital expenditure on machinery and existing facility upgrades, and general corporate purposes. Set to list on both the BSE and NSE platforms, market participants are closely watching this scalable power and infrastructure player. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!

Incorporated in 2005, Lumino Industries Limited is a prominent, Kolkata-based integrated Engineering, Procurement, and Construction (EPC) company with a strong product-driven focus. The company operates a robust dual-business model that caters heavily to India’s power transmission, distribution, and infrastructure modernization sectors.

Here is a breakdown of their core business operations:

• Specialized Manufacturing: Lumino manufactures and supplies a wide array of electrical products, including aluminium conductors, power cables, and electrical wires under its proprietary 'Lumicon' brand.
• HTLS Innovation: A key specialized segment involves the production of high-temperature, low-sag (HTLS) conductors, which are critical for highly efficient power transmission and distribution.
• Comprehensive EPC Execution: On the infrastructure side, the company executes complex turnkey projects spanning power distribution, extra-high voltage (EHV) substations, railway electrification, and solar power projects.
• High Backward Integration: Lumino significantly optimizes its operational costs by manufacturing a major portion of its own EPC project requirements in-house—fulfilling over 62% of these requirements internally in Fiscal 2024.

The Lumino Industries IPO is a mainboard book-built issue worth ₹700.00 Crore. It consists of a Fresh Issue of ₹500.00 Crore and an Offer for Sale (OFS) of ₹200.00 Crore by existing promoter shareholders. Proceeds from the OFS portion will go directly to the selling shareholders and will not accrue to the company.

The net proceeds from the fresh capital raise will be allocated toward the following strategic growth and financial objectives:

• Debt Repayment (₹337.00 Crore): The largest portion of the fresh capital is earmarked for the prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company, significantly strengthening its balance sheet.
• Capital Expenditure (₹15.01 Crore): Funds will be deployed for the purchase of new equipment and machinery, alongside civil works and interior development for an existing manufacturing facility.
• General Corporate Purposes: The remaining balance of the fresh issue will be utilized for broad corporate initiatives, operational smoothing, and strategic expansion.