Lumino Industries makes a strong debut on the exchanges. It has listed at a 34.15% premium, at Rs 110 on the NSE. The stock was listed at a 32.93% premium on the BSE at Rs 109. The company set the issue price at Rs 82 a share.
The company raised Rs 700 crore via a combination of 6.10 crore fresh shares totalling Rs 500 crore and an offer for sale of 2.44 crore shares aggregating to Rs 200 crore. The IPO bidding started on August 27 and ended on August 31. The allotment was finalised on September 01.
A retail applicant had to apply for a minimum of one lot that contained 182 shares. The minimum amount of investment required by an individual investor was Rs 14,924.
Lumino Industries IPO: BRLM and registrar
Motilal Oswal Investment Advisors was the book-running lead manager for the IPO, and Bigshare Services was the registrar of the issue.
About Lumino Industries
Lumino Industries is an integrated engineering, procurement and construction (EPC) company in India, with a focus on manufacturing and supplying conductors, power cables, electrical wires and specialised products for the power transmission and distribution industry.
Incorporated in 2005, the company also manufactures high-temperature low-sag (HTLS) conductors used in transmission and distribution lines.
The company operates through two key segments: Manufacturing and EPC. Its manufacturing business covers aluminium conductors, power cables and electrical wires, while its EPC business includes power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management projects.