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Lumino Industries IPO
Engineering - Construction
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₹14,196Min. investment
Lumino Industries Limited IPO Details
Issue size
₹700Cr
IPO type
Mainboard
Market Cap
₹2,497CrLower than sector avg
Price range
₹78.00 – ₹82.00
Listing ExchangeBSE, NSE
RevenueApr 2025 - Mar 2026
₹2,041CrLower than sector avg
Lot size
182 shares
Red Herring Prospectus
Read
Growth rate3Y CAGR
20.43%Higher than sector avg
SectorEngineering - Construction
Price range₹78.00 – ₹82.00
IPO type
Regular
Lot size182 shares
Issue size₹700Cr
Red Herring Prospectus
Read
Market Cap
₹2,497CrLower than sector avg
RevenueApr 2025 - Mar 2026
₹2,041CrLower than sector avg
Growth rate3Y CAGR
20.43%Higher than sector avg
Lumino Industries Limited IPO Overview
Lumino Industries IPO open date
Lumino Industries IPO will open for subscription on August 27, 2026, and the closing date for the IPO is August 31, 2026. After this, investors are expected to be updated about the allotment status on September 1, 2026.
Investors who have been allotted shares can expect them to be credited to their demat account on September 2, 2026. The shares will be listed on the NSE and the BSE on Thursday, September 3, 2026.
Lumino Industries IPO price band
Lumino Industries IPO includes fresh issue and offer for sale. The IPO price band has been set between ₹78 and ₹82 per share. Interested investors can choose a price within this band to apply for the IPO.
The IPO is a book-building issue, comprising a fresh issue of ₹500 crore and an offer for sale of ₹200 crore. Lumino Industries IPO listing price will be determined on September 3, 2026. The listing price is the price at which a company’s shares debut on the stock exchanges.
Lumino Industries IPO lot size
Lumino Industries IPO details have been declared. The minimum lot size for an application is 182 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹700 crore.
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Repayment of borrowings
67.40%
General corporate purposes
29.60%
Capital expenditure requirements
3.00%
Strength and Weakness
Integrated manufacturing to EPC model
The company is structurally advantaged by the integrated manufacturing to EPC model that shows up in its improving bid to win ratio and reduced reliance on external partners, providing it with a significant advantage relative to pure play EPC companies or manufacturing companies.
Diversified and growing order book
Order book shows around 62% growth in two years, geographically and product wise, provides it with good visibility into future revenues and protects it from single market cyclicality.
Internationally accredited manufacturing facility
An internationally accredited manufacturing facility with installed capacity of 40,000 MT, along with ongoing capacity building initiatives, puts the company in a position to ramp up exports and diversify products in high growth transmission sectors.
Skilled promoters and strategic alliances
The skilled promoters coupled with technological alliances (with CTC Global), provide the company with the pipeline for future innovations and diversified,JV backed project verticals.
About Lumino Industries Limited
Lumino Industries is an integrated engineering, procurement, and construction (EPC) firm that has been operating in the power transmission and distribution sector for over three decades. The company focuses on manufacturing and supply of conductors, power cables, electrical wires and specialised products to the power transmission and distribution industry.
The firm operates through two complementary business segments, namely Manufacturing and EPC, with a main product portfolio of conductors, power cables, electrical wires, and specialised products used in various fields such as power transmission and distribution, industrial, renewable energy, railways, and electrical infrastructure. Lumino Industries was formed in 1989 as a manufacturer of conductors and cables and got into EPC business in 2007 with a view to building an integrated business model.
Lumino Industries business model is based on integrating its manufacturing and EPC operations. Products from its manufacturing units are not only sold externally but also consumed internally by its EPC business. The firm's EPC business reduces dependency on third-party manufacturers and helps it in controlling costs, quality and time schedules. In FY26, 23.08% of its specialised products utilised in its EPC projects came from its own manufacturing units.
There are three broad products in the manufacturing segment: aluminium conductors, power cables and electrical wires. During FY26, this segment generated revenue of ₹1,423 crore which constituted 69.7% of the revenue from operations. Aluminium conductors generated a revenue of ₹735.1 crore, power cables ₹634.1 crore and electrical wires ₹43.8 crore. The company began their business in electrical wires in FY23 under the “Lumicon” name and now they are running the business in four states through approximately 104 distributors.
The EPC segment functions in six business lines: power transmission and distribution, EHV substations, HTLS reconductoring, railway electrification, solar power projects and water management projects. During FY26, the revenue generated by the EPC segment was ₹617.63 crore, which constituted 30.2% of the revenue from operations under segmental reporting. The company has done projects for central and state power utilities and has expanded its reach in Assam, Jharkhand, Punjab, Rajasthan, West Bengal, Uttar Pradesh, Gujarat, Kerala and Jammu & Kashmir, along with an EPC project in power distribution in Rwanda.
The company runs two integrated manufacturing plants at Howrah in the state of West Bengal, having an area of around 264,208 sq. ft. and a total capacity to consume aluminium of 40,000 MT per annum. During the year FY26, the manufacturing capacity of both plants stood at 40,000 MT, however, the total production in FY26 was 31,571 MT, which implied a capacity utilisation of 78.93%. As on March 31, 2026, the company had operations in 26 states and 4 union territories in India and 17 countries across the world.
The consolidated order book of the company stood at ₹3,149.8 crore as on March 31, 2026 as compared to ₹2,436.2 crore in FY25 and ₹1,940.5 crore in FY24. In FY26, the order book consisted of ₹1,991.9 crore of orders from EPC projects and ₹1,157.9 crore of orders from manufacturing projects. In the order book of EPC, there was 38.08% of East India, 33.36% of West India, 14.61% of Central India, and 13.78% of South India.
There is robust structural growth within the wires and cables sector in India with the market size currently estimated at around ₹1,61,800 crore in FY26 and set to grow at 13-14% CAGR over FY26-31 to touch ₹2,98,000-3,12,000 crore in FY31. The growth will be driven by investments in power transmission and distribution, renewables, grid upgradation, data centres, digitalisation, and construction. The power transmission cables had the largest market share, accounting for 43-45% in FY26, with the rising need for electrification and renewable capacity additions driving the demand for MV, HV & EHV cables. The conductor market is also growing with output growing to 654,038 MT in FY26 from 454,805 MT in FY20, while the transmission infrastructure of India is set to add 76,787 ckm over FY27-32. Moreover, rising market share of organized companies from 72-74% in FY20 to 76-78% in FY25 suggests favourable conditions for large and technically adept producers.
Lumino Industries is well-positioned to leverage these favourable industry headwinds due to its integrated business model that leverages internal manufacture of conductors and power cables in addition to its EPC offerings in power transmission, distribution, and electrification. The organisation has more than 30 years of presence in India’s power sector and enjoys UL certification for some of its thermoset insulated wire products, enabling it to cater to the requirements of quality-sensitive segments.
The firm witnessed revenue growth of 20.4% CAGR to ₹2,041 crore during FY24-26 and emerged as the fourth fastest-growing player amongst the considered peers, with its operating EBITDA growing at a 28.3% CAGR. With its integrated manufacture and EPC capability, increasing backlog and exposure to the ecosystem of power transmission and distribution, the firm stands well poised to capitalize on the growing requirement of cables, conductors, and power infrastructure.
Now, Lumino Industries is launching its initial public offering (IPO), which consists of a fresh issue of ₹500 crore and an offer for sale of ₹200 crore. The total issue size of the IPO is ₹700 crore. Its shares will be listed on the NSE and BSE.
How to pre-apply for Lumino Industries IPO?
You can pre-apply for Lumino Industries IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
- Login to your Upstox account, using your six-digit PIN
- After successfully logging in, click on ‘Discover’
- On the Discover tab, you will find the ‘Invest in IPO’ section
- Under the Invest in IPO section, look for the ‘Lumino Industries IPO’ tab and click on it
- Now fill in all the required information, like ‘bid price’ and ‘lot size’
- Confirm and click on ‘Pre-Apply’
- Accept the mandate on your UPI app
How to apply for Lumino Industries IPO?
If you are interested in this investment opportunity but unsure how to apply for Lumino Industries IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Lumino Industries IPO on Upstox:
- Log in to your Upstox account, using your six-digit PIN
- After logging in, click on ‘Discover’
- On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
- Under the Invest in IPO section, look for the ‘Lumino Industries IPO’ tab and click on it
- Now fill in all the required information, like ‘bid price’ and ‘lot size’
- Confirm and click on ‘Apply’
- Accept the mandate on your UPI app
How to check allotment status for Lumino Industries IPO?
When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Here’s a step-by-step guide on how to check the Lumino Industries IPO allotment status:
- Login to your Upstox account, using your six-digit PIN
- After logging in, click on ‘Discover’
- On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
- Under the Invest in IPO section, you will find the ‘View all’ option
- Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
- In the ‘IPO’ tab, click on ‘My applications’
- In ‘My applications’, under the History section, your Lumino Industries IPO allotment status will be mentioned
Latest News on Lumino Industries IPO
Frequently asked questions
How to invest in the Lumino Industries IPO ?
Investors can apply for the Lumino Industries IPO through their Demat account via the stock exchange or through their broker.
What is the issue size of Lumino Industries IPO ?
The issue size of the Lumino Industries IPO is 700 Cr.
What is 'pre-apply' for Lumino Industries IPO ?
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
Which exchanges will Lumino Industries IPO shares list on?
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Ipo opens on 27 Aug 2026, 10:00 AM