Lumino Industries debuts at ₹109, 32.93% above issue price, with 40kt aluminium capacity

India-based Lumino Industries made its BSE debut at INR 109 (USD 1.15) per share, 32.93 per cent above its issue price. The stock later touched a high of INR 113.65 (USD 1.2) and a low of INR 106.48 (USD 1.13), with more than 7 million shares traded on the exchange.

Lumino Industries operates in the power transmission and distribution sector. It manufactures aluminium conductors, power cables and electrical wires, including HTLS conductors. It also undertakes EPC work in power transmission and distribution, EHV substations, re-conductoring, railway electrification, solar power and water management.

The company’s IPO was subscribed 117.78 times. Bidding opened on August 27 and closed on August 31, 2026, with a price band of INR 78-82 (USD 0.83-0.87) per share. The INR 7 billion (USD 74 million) issue comprised an INR 5 billion (USD 53 million) fresh issue and an INR 2 billion (USD 21 million) offer for sale by the promoters.

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Of the money raised through the fresh issue, Lumino plans to use INR 3.37 billion (USD 35.7 million) to repay or prepay some of its outstanding borrowings. It has set aside INR 150 million (USD 1.6 million) for equipment and machinery, civil works and interior development at an existing manufacturing facility. The remaining funds will be used for general corporate purposes.

Before the IPO, the company raised INR 2.07 billion (USD 22 million) from 30 anchor investors on August 26. The board allotted 25 million shares to them at INR 82 (USD 0.87) per share.

Manufacturing remained Lumino Industries’ main source of revenue in FY26, contributing 69.74 per cent, while its EPC business accounted for the remaining 30.26 per cent. As of March 2026, the company’s order book stood at INR 31.5 billion (USD 333.6 million), with government entities contributing 82.2 per cent of the total.

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The company has two manufacturing facilities in Howrah, West Bengal, with a combined annual aluminium consumption capacity of 40,000 tonnes. It is also building another facility in Howrah, which is expected to start commercial production in the second half of FY27.

For the 12 months ended March 31, 2026, Lumino Industries reported sales of INR 20.41 billion (USD 216 million) and a consolidated net profit of INR 1.6 billion (USD 17 million).