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Lumino Industries Shares Debut 34% Above IPO Price
Lumino Industries sold shares to the public through an IPO.
Its IPO price was set between ₹78 and ₹82, and the final issue price was ₹82.
When trading began, the shares opened at ₹110 on the NSE.
This was 34.15% higher than the IPO price.
Investors had expected an even higher opening of about ₹121.5 based on grey-market indications.
The IPO was subscribed many times over, especially by institutional investors.
The company will use much of the new money to repay debt.
It will also spend some money on equipment, construction and other business needs.
Lumino Industries shares listed at ₹110 on NSE, a 34.15% premium to the ₹82 IPO price.
The reported ₹109 opening on another exchange was below the ₹121.5 price implied by the ₹39.5 grey-market premium.
The IPO received 118.12 times overall subscription, including 221.43 times from qualified institutional buyers.
The issue had a ₹78–₹82 price band, a lot size of 182 shares, and a face value of ₹5 per share.
The company plans to use ₹337 crore of fresh-issue proceeds for debt repayment and ₹15 crore for capital expenditure.
- Who
- Lumino Industries, its promoters Devendra Goel and Jay Goel, and participating investors.
- What
- Lumino Industries shares made their stock-market debut at a premium after the company’s IPO.
- Where
- The shares opened at ₹110 on the National Stock Exchange; the report also gave a ₹109 opening on another exchange.
- When
- The shares debuted on Thursday, 3 September; the IPO was open for subscription from 27 to 31 August.
- Why
- The company raised funds through a fresh issue and an offer for sale, with proceeds intended mainly for debt repayment and capital expenditure.
Key facts
- IPO price
- ₹82 per equity share
- Reported NSE opening
- ₹110 per share
- Opening premium
- 34.15% above the IPO price
- Overall subscription
- 118.12 times, according to NSE data
- Issue size
- Fresh issue of up to ₹500 crore plus an offer for sale of up to ₹200 crore
- Debt repayment allocation
- ₹337 crore from fresh-issue proceeds
- Capital expenditure allocation
- ₹15 crore for equipment, machinery, civil works and interior development
Sources
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