Lumino Industries opens ₹700Cr IPO priced ₹78-82 per share
Business
Lumino Industries is opening its ₹700 crore IPO on August 27, with shares priced at ₹78 to ₹82 each.
The offering includes a fresh issue worth up to ₹500 crore and a ₹200 crore offer for sale, putting the company's value at around ₹2,500 crore if fully subscribed.
Lumino earmarks proceeds for debt repayment
The fresh funds will help Lumino pay off debt, buy new equipment, and upgrade its manufacturing facility.
If you're thinking about investing, 35% of shares are set aside for retail buyers like you, 50% go to Qualified Institutional Buyers (QIBs), and 15% go to Non-Institutional Investors (NIIs).
Bidding wraps up on August 31, and Lumino plans to list on BSE and NSE by September 3.