The initial public offering (IPO) of Lumino Industries has opened for bidding today, August 27, and will close on August 31. The integrated engineering, procurement, and construction (EPC) company has fixed its price band at ₹78 to ₹82 per equity share. Ahead of the issue opening, the grey market premium (GMP) for Lumino Industries rose to +₹50. Based on the upper price cap of ₹82, the estimated listing price is projected at ₹132 per share, indicating potential listing gains of nearly 61%. Additionally, the company secured ₹207 crore from anchor investors, including Citigroup Global Markets, SBI General Insurance, and Bajaj Life Insurance. Key Issue Details & Valuation Issue Structure: A fresh issue of shares worth up to ₹500 crore alongside an Offer for Sale (OFS) of up to ₹200 crore by the promoters. Use of Proceeds: ₹337 crore allocated for debt repayment/prepayment, ₹15 crore for capital expenditure, and the remainder for general corporate purposes. Financial Profile: Reported a PAT CAGR of 35.9% (FY24–FY26) with an order book standing at ₹3,150 crore as of March 2026. Return ratios remained solid, with an ROE of 21.9% and ROCE of 24.3%. Analyst Rating: SBI Securities issued a ‘Subscribe’ rating at the cut-off price, highlighting its integrated manufacturing model, strong margin profile, and attractive post-issue valuation of 15.6x FY26 earnings compared to peers. Disclaimer: The perspectives and stock recommendations expressed above belong solely to the featured analysts or brokerage firms and do not represent the views of this publication. Investors are strongly advised to consult with a certified financial advisor before executing any investment decisions. Post navigation Nvidia’s Quarterly Revenue Surges past $96 Billion as AI Demand Accelerates
