Lumino Industries IPO 2026: Price Band, GMP, Subscription, Financials & Key Details

The Lumino Industries IPO is scheduled to open for subscription on August 27, 2026, and close on August 31, 2026. The IPO is a ₹700 crore Mainboard Book Build Issue, comprising a fresh issue of ₹500 crore and an Offer for Sale (OFS) of ₹200 crore.

The IPO price band has been fixed at ₹78 to ₹82 per share, with a face value of ₹5 per equity share. Retail investors can apply for a minimum of 182 shares, requiring an investment of ₹14,924 at the upper price band.

The shares are proposed to be listed on both the NSE and BSE on September 3, 2026.

Lumino Industries is an engineering, procurement and construction (EPC) company engaged in the manufacturing and supply of conductors, power cables, electrical wires and specialised electrical components for India's power transmission and distribution sector. The company also undertakes EPC projects across power distribution, EHV substations, HTLS reconductoring, railway electrification and solar projects.

In this article, we cover the Lumino Industries IPO details, GMP, IPO timeline, lot size, subscription status, reservation, financial performance, business model, IPO objectives, competitive strengths, risks, peer comparison, allotment and key investor considerations.

Lumino Industries IPO Details

Lumino Industries IPO Timeline

All dates are tentative and subject to change.

Lumino Industries IPO GMP

As of August 21, 2026, the Lumino Industries IPO GMP is ₹18.50.
At the upper price band of ₹82, the estimated listing price based on the current GMP is around ₹100.50 per share.

At the current GMP of ₹18.50, the estimated listing price represents a potential gain of approximately 22.56% over the upper IPO price band.
GMP is an unofficial and unregulated market indicator. It can change significantly before listing and should not be considered a guarantee of the actual listing price.

Lumino Industries IPO Subscription Status

The Lumino Industries IPO will open for subscription on August 27, 2026, and close on August 31, 2026.

The live subscription data is currently unavailable because bidding has not started.

The subscription figures will be updated once bidding begins.

Lumino Industries IPO Day-wise Subscription Trend

What is the Current Subscription Data for Lumino Industries?

The live subscription data for the Lumino Industries IPO is currently unavailable as the issue has not opened for bidding.

Once the issue opens, subscription figures will be updated based on bids received from QIB, NII and Retail investors.

Lumino Industries IPO Reservation

What is Lumino Industries Ltd.?

Incorporated in 2005, Lumino Industries Limited is a product-driven engineering, procurement and construction (EPC) company engaged in manufacturing and supplying conductors, power cables, electrical wires and specialised components for India's power transmission and distribution industry.

The company operates across manufacturing and EPC businesses, serving applications in power distribution, industrial projects, renewable energy and communication.

Lumino Industries manufactures high-temperature low-sag (HTLS) conductors, which are used in power transmission and distribution networks. The company also manufactures aluminium conductors, power cables and electrical wires under its Lumicon brand.

The company has two manufacturing facilities in Howrah, West Bengal, with a combined aluminium manufacturing capacity of approximately 40,000 MT per year. It also operates three warehouses covering approximately 110,000 sq. ft.

Lumino Industries has an electrical wire distribution network across four Indian states with approximately 122 distributors.

The company also serves international customers, including government-owned electricity companies in countries such as the USA, Nepal and Ghana.

Business Segments

Manufacturing:

The manufacturing business includes aluminium conductors, power cables and electrical wires. Its product portfolio includes low-voltage cables, aerial bundled cables, railway signalling cables, concentric cables and electrical wires.

EPC:

The EPC business covers power distribution, EHV substations, HTLS reconductoring, railway electrification and solar projects. The company executes projects in India and international markets.

Lumino Industries IPO Objectives

The company proposes to utilise the net proceeds from the fresh issue for repayment of borrowings, capital expenditure and general corporate purposes.

A significant portion of the fresh issue proceeds is proposed to be used for debt repayment, which could help reduce the company's financial leverage.

Lumino Industries Financial Performance

Lumino Industries has reported consistent growth in revenue and profitability over the last three financial years.

The company's total income increased from ₹1,424.63 crore in FY24 to ₹2,089.31 crore in FY26.

PAT increased from ₹86.61 crore in FY24 to ₹160 crore in FY26, indicating significant growth in profitability.

Between FY25 and FY26, total income increased by approximately 7%, while PAT increased by approximately 28%.

The company also reduced borrowings from ₹418.83 crore in FY25 to ₹384.16 crore in FY26.

Lumino Industries Key Financial Ratios

The company reported a 24.62% ROE and 24.62% RoNW in FY26. PAT margin improved from 6.40% in FY25 to 7.66% in FY26.

However, ROCE declined from 31.89% to 25.75%, which investors should monitor.

Lumino Industries IPO Valuation

Based on the provided IPO financial data:

At the upper price band of ₹82, the company's post-IPO valuation works out to approximately 15.62x earnings based on the provided post-issue EPS.
The valuation should be assessed against the company's earnings growth, return ratios and the valuations of listed peers in the electrical, cables and EPC sectors.

Lumino Industries IPO Peer Comparison

The company's peer comparison based on DRHP/RHP data is as follows:

Peer financial metrics are based on the data provided in the company's DRHP/RHP.

Lumino Industries' reported P/E is lower than the P/E multiples of most of the listed peers provided above. However, investors should also consider differences in business mix, scale, growth, debt levels and profitability while comparing valuations.

Competitive Strengths of Lumino Industries

Integrated Manufacturing and EPC Model

Lumino Industries combines manufacturing capabilities with EPC execution, allowing it to participate across multiple stages of the power infrastructure value chain.

Presence in Power Transmission and Distribution

The company's products and EPC capabilities are aligned with India's growing requirements for power transmission and distribution infrastructure.

Diversified Product Portfolio

The company manufactures conductors, power cables, electrical wires and specialised products, reducing reliance on a single product category.

Growing EPC Opportunities

Its EPC portfolio includes power distribution, EHV substations, HTLS reconductoring, railway electrification and solar projects.

Strong Manufacturing Infrastructure

Lumino operates two manufacturing facilities in Howrah with a combined aluminium capacity of approximately 40,000 MT per year.

International Presence

The company has supplied products and undertaken projects for customers in international markets, including the USA, Nepal and Ghana.

Risks Investors Should Consider

Dependence on Power Infrastructure Spending

The company's growth is linked to investments in power transmission, distribution, renewable energy and related infrastructure.

Raw Material Price Volatility

Aluminium and other raw materials are important inputs for the company's products. Changes in raw material prices could affect margins.

EPC Execution Risk

Delays in project execution, cost overruns or delays in receiving payments can affect the company's working capital and profitability.

Customer Concentration

Dependence on major customers or large orders could create business risks if contracts are delayed, cancelled or not renewed.

Competitive Industry

The company operates in competitive cables, conductors and EPC markets with several established listed players.

Debt and Working Capital

Although borrowings declined in FY26, the company continues to have borrowings and operates in businesses that can require significant working capital.

Cyclical Nature of Infrastructure Spending

A slowdown in infrastructure investment or government and private-sector capital expenditure could impact demand.

Should You Invest in Lumino Industries IPO?

Lumino Industries offers investors exposure to the power transmission, distribution, electrical cables and EPC infrastructure sector.

The company has reported strong growth in profitability, with PAT increasing from ₹86.61 crore in FY24 to ₹160 crore in FY26. Its ROE of 24.62% and PAT margin of 7.66% also indicate healthy profitability.

At the upper price band of ₹82, the provided post-IPO P/E is around 15.62x, which is lower than the P/E multiples of several listed peers mentioned in the DRHP/RHP data. However, valuation alone should not be the only factor in making an investment decision.

The current GMP of ₹18.50 as of August 21, 2026 indicates an estimated listing price of around ₹100.50, implying a potential gain of approximately 22.56% over the upper price band. GMP is unofficial and can change before listing.

Lumino Industries IPO Allotment Status

The allotment of shares for the Lumino Industries IPO is expected to be finalized on September 1, 2026.

Applicants can check their IPO allotment status after it is declared through the official registrar, Bigshare Services Pvt. Ltd.

How to Check Lumino Industries IPO Allotment Status?

• Visit the Bigshare IPO allotment page.
• Select Lumino Industries from the issuer list.
• Choose PAN, application number or DP ID/client ID.
• Enter the required details.
• Click on the Search option.
• The allotment status will be displayed on the screen.
• Investors can also receive allotment and refund updates through their registered bank, broker, email or SMS.

Lumino Industries IPO Registrar

• Registrar: Bigshare Services Pvt. Ltd.
• Address:
  Ahura Centre, Pinnacle Business Park
  Mahakali Caves Road, Shanti Nagar
  Andheri East, Mumbai
• Phone: 8657578989 / 8069219065 / 8069219060
• Email: ipo@bigshareonline.com

The registrar is responsible for processing IPO applications, finalizing the basis of allotment, crediting shares to successful applicants and processing refunds.

Lumino Industries IPO Lead Managers

The book-running lead managers for the IPO are:

• JM Financial Ltd.
• Motilal Oswal Investment Advisors Ltd.
• Monarch Networth Capital Ltd.

Lumino Industries Company Details

• Registered Office:
  Lumino Industries Ltd.
  Unit No. 12/4, Merlin Acropolis
  1858/1 Rajdanga Main Road
  Kolkata, West Bengal – 700107
• Website: Lumino Industries
• Phone: +91 33 2441 2008
• Email: investor.relation@luminoindustries.com
•  

Summary

The Lumino Industries IPO is a ₹700 crore Mainboard Book Build Issue, comprising a ₹500 crore fresh issue and ₹200 crore OFS. The IPO price band is fixed at ₹78–₹82 per share, with a minimum retail investment of ₹14,924.

The company operates in the cables, conductors, electrical wires and EPC sector and serves India's power transmission and distribution industry. It also has exposure to railway electrification, renewable energy and other infrastructure projects.

Lumino Industries reported ₹2,089.31 crore total income and ₹160 crore PAT in FY26, compared with ₹1,946.68 crore total income and ₹124.59 crore PAT in FY25.
The company reported a 24.62% ROE, while its PAT margin improved to 7.66% in FY26.

As of August 21, 2026, the Lumino Industries IPO GMP is ₹18.50, implying an estimated listing price of approximately ₹100.50 at the upper price band. This represents an indicative gain of around 22.56%.

Investors should evaluate the company's financial performance, valuation, industry outlook, order book, competitive position and associated risks before investing.

Frequently Asked Questions (FAQs)

What is the Lumino Industries IPO?

Lumino Industries IPO is a ₹700 crore Mainboard Book Build IPO, consisting of a ₹500 crore fresh issue and ₹200 crore Offer for Sale.

What are the Lumino Industries IPO dates?

The IPO will open on August 27, 2026, and close on August 31, 2026.

What is the Lumino Industries IPO price band?

The price band is fixed at ₹78 to ₹82 per share.

What is the lot size of Lumino Industries IPO?

The minimum IPO lot size is 182 shares. At the upper price band of ₹82, the minimum investment is ₹14,924.

What is the Lumino Industries IPO GMP today?

As of August 21, 2026, the Lumino Industries IPO GMP is ₹18.50.

What is the estimated listing price of Lumino Industries IPO?

Based on the current GMP of ₹18.50 and the upper price band of ₹82, the estimated listing price is around ₹100.50 per share.

When will Lumino Industries IPO allotment take place?

The tentative IPO allotment date is September 1, 2026.

When will Lumino Industries IPO list?

The shares are expected to list on September 3, 2026, on both NSE and BSE.

What is the total issue size of Lumino Industries IPO?

The total IPO size is ₹700 crore, consisting of a ₹500 crore fresh issue and ₹200 crore OFS.

What does Lumino Industries do?

Lumino Industries manufactures conductors, power cables, electrical wires and specialised electrical components and also undertakes EPC projects in power distribution, EHV substations, HTLS reconductoring, railway electrification and solar projects.

What is the minimum investment required for Lumino Industries IPO?

Retail investors need to apply for at least 182 shares, requiring ₹14,924 at the upper price band of ₹82 per share.

Disclaimer

This article is intended for informational and educational purposes only and should not be considered financial or investment advice. IPO details, Grey Market Premium (GMP), subscription figures, allotment dates and listing timelines are subject to change. Investors should carefully read the Red Herring Prospectus (RHP), verify the latest information from official sources and consult a qualified financial advisor before making any investment decision. Investments in the stock market are subject to market risks.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.