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Lumino IPO: Rs 78-82 Price Band Set
21 Aug
Summary
- Lumino Industries sets IPO price range at Rs 78-82 per share.
- The Rs 700 crore offering includes Rs 500 crore fresh issue.
- Funds will be used for debt repayment and equipment upgrades.
Lumino Industries has established its Initial Public Offering (IPO) price band at Rs 78 to Rs 82 per equity share. The total offering is valued at Rs 700 crore, aiming to bolster the company's financial standing and operational capabilities.
The IPO, which opens for subscription on August 27 and closes on August 31, consists of a fresh issuance of shares worth Rs 500 crore and a Rs 200 crore offer-for-sale by the promoters. This strategic move will support Lumino's primary business sectors.
Proceeds from the fresh issue are allocated for significant purposes, including Rs 337 crore for the prepayment or repayment of outstanding borrowings. An additional Rs 15.01 crore is designated for capital expenditure towards equipment and machinery acquisition for an existing manufacturing facility. The remaining funds will be directed towards general corporate purposes.
Lumino Industries specializes in manufacturing and supplying conductors, power cables, and electrical wires, positioning itself as an integrated engineering, procurement, and construction (EPC) player. The company's equity shares are slated for listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
