NewsLumino Industries IPO Day 2 Live: Total subscribed 2.3x; NII (sHNI) books 5.66x - Check analysts view and moreLumino Industries IPO Day 2 Live: Total subscribed 2.3x; NII (sHNI) books 5.66x - Check analysts view and more
- Lumino Industries IPO is subscribed 2.3x by end of Day 2.
- NII (sHNI) category leads with 5.66x subscription.
- QIB subscription remains low at 0.04x.
- Company reported FY 2026 revenue of ₹2041.07 crores.
- IPO proceeds will fund debt repayment and capex.
*this image is generated using AI for illustrative purposes only.
Lumino Industries IPO is subscribed 2.3x cumulatively by the end of Day 2. The Non-Institutional Buyer (small HNI) category leads with 5.66x subscription, while QIB remains weak at 0.04x. The issue continues for two more days.
Subscription Status
The IPO saw strong participation from retail and small HNI investors on Day 2, pushing the total subscription to 2.30x. However, institutional interest remained tepid.
| Category | Day 1 (27-08-2026) | Day 2 (28-08-2026) |
|---|---|---|
| QIB | 0.04x | 0.04x |
| NII (bHNI) | 3.50x | 5.66x |
| NII (sHNI) | 1.24x | 2.18x |
| Retail | 1.92x | 3.19x |
| Total | 1.38x | 2.30x |
Intra-day Timeline (Day 2)
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.04x | 5.66x | 3.19x | 2.30x |
About the Company
Lumino Industries Limited is an integrated engineering, procurement and construction (EPC) player in India, founded in 2005. It manufactures conductors, power cables, and electrical wires while executing power transmission and distribution projects. The company is led by CEO Purushottam Dass Goel and MD Devendra Goel.
Financial Highlights
| Particulars | FY 2024 (₹ crores) | FY 2025 (₹ crores) | FY 2026 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 1407.32 | 1917.97 | 2041.07 |
| Total Profit | 86.61 | 124.59 | 160.00 |
| Total Equity | 445.97 | 570.45 | 729.71 |
The company reported revenue of ₹2041.07 crores and a total profit of ₹160.00 crores in Fiscal 2026. Its Operating EBITDA Margin stood at 11.71% in Fiscal 2026.
Objects of the Issue
- Prepayment or re-payment of certain outstanding borrowings: ₹337.00 crores
- Capital expenditure for equipment and machinery: ₹15.01 crores
- General corporate purposes
Risk Factors
- Substantial Dependence on Government Entities for Revenue
- High Customer Concentration Risk
- Raw Material Price Volatility and Supply Chain Risk
Key Dates
- IPO Open Date: 2026-08-27
- IPO Close Date: 2026-08-31
- Allotment Date: TBA
- Listing Date: TBA
Will the persistent lack of QIB interest (0.04x) signal potential listing price volatility or a discount at allotment?
How might Lumino Industries' heavy reliance on government entities impact its revenue stability amidst changing infrastructure policies?
Could the significant allocation of IPO proceeds to debt repayment (₹337 crores) improve the company's credit rating and future borrowing costs?
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