Lumino Industries IPO priced ₹78-₹82, 500cr issue, 200cr promoter sale
Business
Lumino Industries just launched its IPO, with shares priced at ₹78 to ₹82 each. The offer includes fresh shares worth ₹500 crore and a ₹200 crore sale by the promoters.
You can apply until August 31, and the stock is set to list on NSE and BSE on September 3.
Lumino profit jumps 28% to 160cr
The company's profits jumped 28% this year, hitting ₹160 crore, while revenue grew to over ₹2,089 crore.
Most of the IPO funds will go toward paying off debt and upgrading its factories.
The pricing looks pretty reasonable too, much lower than industry averages, which might make it appealing for new investors looking for value.