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Lumino Industries IPO Set for Debut as GMP Signals Gains
Lumino Industries is planning to put its new shares on the stock market on 3 September.
People could buy the shares in the IPO for between ₹78 and ₹82 each.
In the grey market, the shares were being discussed at ₹37 above the top IPO price.
That suggests an estimated listing price of ₹119, but it is not guaranteed.
The IPO received many more applications than the number of shares available.
Institutional investors showed especially strong demand.
Some of the money raised will be used to repay debt and buy equipment.
Investors who received shares are expected to see them in their demat accounts before listing.
Lumino Industries shares are scheduled to list on the Indian stock market on Thursday, 3 September.
The IPO’s grey market premium stood at ₹37, implying an estimated listing price of ₹119 per share.
The issue was subscribed 221.43 times by qualified institutional buyers, 176.42 times by non-institutional investors, and 38.50 times by retail investors.
The IPO had a price band of ₹78–₹82 per share and a lot size of 182 shares.
The ₹700 crore issue includes a ₹500 crore fresh issue and a ₹200 crore offer-for-sale by promoters Devendra Goel and Jay Goel.
- Who
- Lumino Industries, its promoters Devendra Goel and Jay Goel, and investors who subscribed to the IPO.
- What
- Lumino Industries is scheduled to list shares after an IPO that includes a fresh issue and an offer-for-sale.
- Where
- On the Indian stock market; shares are credited to investors’ demat accounts.
- When
- The IPO ran from 27 August to 31 August; allotment was finalised on 1 September, and listing is scheduled for Thursday, 3 September.
- Why
- The fresh issue will be used primarily to repay debt, fund capital expenditure, and support general corporate purposes.
Key facts
- Listing date
- Thursday, 3 September
- Grey market premium
- ₹37
- Estimated listing price
- ₹119 per share, based on the upper IPO price and current GMP
- IPO price band
- ₹78–₹82 per equity share
- Total issue size
- Up to ₹700 crore
- Fresh issue use
- ₹337 crore for debt repayment and ₹15 crore for capital expenditure
- Subscription highlights
- QIBs: 221.43 times; NIIs: 176.42 times; retail: 38.50 times
Sources
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