Lumino Industries Ltd. made a strong debut on the stock market on Thursday, listing at a premium of to its IPO price. The stock opened at Rs 110 on the NSE which is a 34.15% rise from the IPO price of Rs 82. On the BSE, it began trading at Rs 109 per share which marks a 32.93% premium.
The initial public offering of Lumino Industries Ltd. was subscribed 118.12 times on the final day of bidding on Monday amid overwhelming investor response, mainly from Qualified Institutional Buyers (QIBs).
The IPO received bids for 7,46,59,52,130 shares against 6,32,05,127 shares on offer, as per details available with the NSE. The category for QIBs was subscribed 221.43 times, while the non-institutional investors segment garnered 176.42 times subscription. The retail portion was subscribed 38.50 times.
On the second day of bidding, the initial public offering of Lumino Industries attracted 4.87 times subscription. The IPO received bids for 30,76,48,978 shares against 6,32,05,127 shares on offer, as per details available with the NSE. The portion for non-institutional investors garnered 7.78 times subscription, and the quota meant for retail investors was subscribed 6.50 times. The category for qualified institutional buyers (QIBs) received 6% subscription.
Lumino Industries Ltd on Tuesday raised Rs 207 crore from anchor investors. The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of up to Rs 200 crore by promoters Devendra Goel and Jay Goel.
Lumino Industries Company Details
Of the proceeds from the fresh issue, Rs 337 crore will be utilised for payment of debt, and Rs 15 crore will be used for capital expenditure, including purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility. The remaining funds will be utilised for general corporate purposes.
Lumino Industries is a product-driven integrated engineering, procurement and construction (EPC) player in India.
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