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Lumino IPO Sees Strong Retail Demand
28 Aug
Summary
- Lumino Industries' IPO received 28% subscription by 11 am on August 27.
- Retail investors led the subscription, with their portion subscribed 40%.
- Grey market indicates a potential 67% listing gain on IPO shares.
Lumino Industries launched its Rs 700-crore initial public offering (IPO) on August 27, with subscriptions reaching 28% by 11 am. The issue garnered bids for 1,75,06,216 equity shares against the 6,32,05,127 shares available. Retail investors were particularly active, subscribing 40% of their quota, followed by non-institutional investors at 37%.
In unofficial trading, Lumino Industries shares commanded a grey market premium of Rs 55. This suggests an indicative listing gain of 67% based on the IPO's upper price band of Rs 82. However, it's important to note that grey market premiums are unofficial and can fluctuate before the stock's official listing on the exchange.
