New Delhi/Mumbai, 21 August (H.S.): Conductor and power cable manufacturer Lumino Industries Limited will open its initial public offering (IPO) for subscription on August 27, with the bidding window remaining open until August 31. Anchor investors will be able to place their bids on August 25. The company has fixed a price band of ₹78-82 per share for the issue.

Lumino Industries Limited plans to raise ₹700 crore through the IPO. According to the company, the issue comprises a fresh issue of shares worth ₹500 crore and an offer for sale (OFS) of shares worth approximately ₹200 crore. The proceeds from the fresh issue will be utilised towards debt repayment, the purchase of equipment and machinery, and general corporate purposes.

According to the company, the issue has a face value of ₹5 per share. Investors can bid for a minimum of 182 equity shares and thereafter in multiples of 182 shares. The company has proposed to list its shares on the BSE and NSE on September 3.

Lumino Industries is a product-based integrated engineering, procurement and construction (EPC) company operating in India. Its core focus is on manufacturing and supplying conductors, power cables, electrical wires and other specialised products and components for the country’s expanding power transmission and distribution sector.

---------------

Hindusthan Samachar / Jun Sarkar