Lumino Industries IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 1,424.63 | 1,946.68 | 2,089.31 |
| Expense | 1,308.67 | 1,777.37 | 1,884.54 |
| Profit (PAT) | 86.61 | 124.59 | 160.00 |
| Total Assets | 1,175.44 | 1,718.66 | 2,174.88 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Apar Industries Limited | 242.81 | 68.98 | 19.76 | 1,341.55 | 22,966.89 Cr |
| Bajel Projects Limited | 1.74 | 108.66 | 0.98 | 64.61 | 2,818.56 Cr |
| Kalpataru Projects International Limited | 60.90 | 22.13 | 15.80 | 438.28 | 27,247.93 Cr |
| KEC International Limited | 22.75 | 19.81 | 11.10 | 219.80 | 23,555.87 Cr |
| KEI Industries Limited | 96.02 | 58.79 | 14.76 | 697.07 | 11,906.32 Cr |
| Universal Cables Limited | 47.01 | 35.51 | 8.91 | 544.62 | 3,050.99 Cr |
| Techno Electric & Engineering Company Limited | 40.74 | 25.97 | 12.00 | 357.43 | 3,401.17 Cr |
Promoters: Purushottam Dass Goel, Devendra Goel and Jay Goel
Strengths & Risks
- Heavily oversubscribed — 53.1x overall (so far).
- Strong institutional (QIB) demand — 34.9x.
- Strong return on equity — 25%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
Our data checks haven't flagged a specific concern for Lumino Industries — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Lumino Industries, founded in 2005, is one of the leading engineering, procurement, and construction (EPC) companies involved in the manufacturing and supply of conductors, power cables, electrical wires, and specialised components. The firm makes high-temperature, low-sag (HTLS) conductors for distribution and transmission lines, making Lumino the fastest-growing player in the conductors, power cables, and EPC industry. Its product portfolio includes Aluminium conductors, Power Cables, and electrical wires used in power distribution, industrial, renewable energy, and communication works. The firm runs its 2 manufacturing facilities in Howrah, West Bengal, and supplies its products to international clients, including government-owned electricity companies in countries like the USA, Nepal, and Ghana.
Lumino Industries Ltd., Unit No – 12/4,, Merlin Acropolis, 1858/1 Rajdanga Main Road,, Kolkata, West Bengal, 700107
| Purpose | Amount (Cr) |
|---|---|
| Prepayment or re-payment, in full or in part,of certain outstanding borrowings availed by company | 337.00 |
| Capital expenditure by Company for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility | 15.01 |
| General corporate purposes | - |
Resources & Documents
Lumino Industries has set a price band of Rs 78–Rs 82 per share for an issue size of Rs 700 crore. The stock listed with a 34.15% gain versus its issue price on September 03, 2026.
Lumino Industries, founded in 2005, is one of the leading engineering, procurement, and construction (EPC) companies involved in the manufacturing and supply of conductors, power cables, electrical wires, and specialised components. The firm makes high-temperature, low-sag (HTLS) conductors for distribution and transmission lines, making Lumino the fastest-growing player in the conductors, power cables, and EPC industry.
The issue is promoted by Purushottam Dass Goel, Devendra Goel and Jay Goel with Motilal Oswal Investment Advisors Ltd., JM Financial Ltd., Monarch Networth Capital Ltd. acting as lead manager. Net proceeds will primarily be used towards Prepayment or re-payment, in full or in part,of certain outstanding borrowings availed by company (Rs 337 crore) and Capital expenditure by Company for purchase of equipment and machinery, civil works and interior development of an exist… (Rs 15 crore).
On fundamentals, the company is posting revenue growth of 7.3%, a profit margin of 7.7%, return on equity of 24.6% in its most recent reported period. Listed peers in this segment include Apar Industries Limited (P/E 68.98x) and Bajel Projects Limited (P/E 108.66x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read very strong — GMP, subscription demand and fundamentals are all reading positively. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Lumino Industries IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Lumino Industries GMP history and trend, or learn how grey market premium works and how reliable it is.
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