1 week ago
Lumino Industries Sets Rs 78-82 IPO Price Band
Lumino Industries wants to sell shares to the public for the first time.
Each share will cost between Rs 78 and Rs 82.
People can apply for the IPO from August 27 through August 31.
The whole offering could raise up to Rs 700 crore.
Up to Rs 500 crore will come from new shares issued by the company.
Promoters may sell existing shares worth up to Rs 200 crore.
The company plans to use much of the new money to repay loans.
It will also buy equipment and improve an existing factory.
Lumino Industries Ltd fixed its IPO price band at Rs 78-82 per share.
The Rs 700-crore IPO will open on August 27 and close on August 31.
The offering includes a fresh issue of up to Rs 500 crore and a promoter offer-for-sale of up to Rs 200 crore.
The company plans to use Rs 337 crore to repay or prepay outstanding borrowings.
Additional proceeds will fund equipment, machinery, civil works and upgrades at an existing manufacturing facility.
- Who
- Lumino Industries Ltd, its promoters and prospective public investors.
- What
- The company fixed the price band for a Rs 700-crore initial public offering at Rs 78-82 per share.
- Where
- Lumino Industries is based in Kolkata, and its shares are proposed to be listed on the BSE and NSE.
- When
- The price band was announced on August 21; the IPO will open on August 27 and close on August 31. Anchor investor bidding is scheduled for August 25.
- Why
- Fresh-issue proceeds will be used to repay or prepay borrowings, purchase equipment and machinery, carry out civil works and facility improvements, and support general corporate purposes.
Key facts
- IPO size
- Up to Rs 700 crore
- Price band
- Rs 78-82 per equity share
- Fresh issue
- Up to Rs 500 crore
- Offer for sale
- Up to Rs 200 crore by promoters
- Subscription period
- August 27 to August 31
- Debt repayment
- Rs 337 crore for repayment or prepayment of certain borrowings
- Capital expenditure
- Rs 15.01 crore for equipment, machinery and civil works at an existing manufacturing facility
- Proposed listing
- BSE and NSE
Sources
Related news
Lumino Industries ₹700 Crore IPO Opens August 27
Lumino Industries IPO Opens August 27: Key Details for Bidders
Lumino Industries IPO Set for Debut as GMP Signals Gains
Lumino Industries IPO Draws Subscribe Calls Despite Customer Risks
Lumino Industries IPO Draws Strong Demand Amid Listing Gain Hopes
Lumino Industries IPO Allotment Set September 1, Listing September 3
PVR Inox Buyback: September 3 Last Day to Buy
Augmont Enterprises Rises Despite Gold-Buying Appeal and Market Risks
BSE Shares Fall as New Closing Auction Session Draws Scrutiny
Spice Lounge Food Works Stock Hits Upper Circuit Amid Crash
Indian Stocks Slide as Oil, Conflict and Yields Rise
