Lumino Industries IPO Subscription Day 2: Issue Subscribed 1.81 Times, NII Leads Demand

Mumbai, August 28: The Lumino Industries IPO is seeing a decent response from investors as it moves through the second day of bidding. As of 10:09 AM on August 28, the ₹700 crore issue had been subscribed 1.81 times, with investors bidding for around 10.89 crore shares against 6.01 crore shares offered to the public.

The IPO opened for subscription on August 27 and will remain open until August 31, 2026. Investors therefore have more time to participate, with the final subscription numbers expected to change as bidding continues.

The issue is a combination of a fresh issue of 6.10 crore shares worth ₹500 crore and an offer for sale of 2.44 crore shares amounting to ₹200 crore.

Lumino Industries IPO Subscription Status

The NII category is currently driving the subscription response. The portion reserved for non-institutional investors was subscribed 2.76 times, with bids coming in for around 3.48 crore shares against 1.26 crore shares on offer.

Retail investors have also shown strong interest, with their portion subscribed 2.46 times. The QIB segment, however, remained at 0.04 times as of the latest update.

The employee portion stood at 0.83 times.

The issue had received 3,06,923 applications by the time of the latest subscription update.

Day-wise Subscription Trend

Lumino Industries IPO started Day 1 with an overall subscription of 1.51 times. The response strengthened on Day 2, pushing the cumulative subscription to 1.81 times.

The NII category moved from 2.20 times on Day 1 to 2.76 times on Day 2. Retail subscription also increased from 2.08 times to 2.46 times during the same period.

Lumino Industries IPO Details

Lumino Industries has fixed the IPO price band at ₹78 to ₹82 per share. The face value of each share is ₹5.

The IPO has a lot size of 182 shares. At the upper end of the price band, retail investors need ₹14,924 to apply for one lot.

The issue comprises a fresh issue of 6,09,75,609 shares and an offer for sale of 2,43,90,242 shares. Together, the total issue size stands at 8,53,65,851 shares.

The company is looking to raise around ₹700 crore through the issue. The shares are proposed to be listed on both BSE and NSE.

Lumino Industries IPO Issue Reservation

The IPO has reserved 50% of the net issue for QIBs, 15% for NIIs and 35% for retail investors.

The issue also includes a reservation of 12,19,512 shares for employees.

Of the total issue size of 8,53,65,851 shares, 4,20,73,169 shares are allocated to QIBs, 1,26,21,951 shares to NIIs and 2,94,51,219 shares to retail investors.

Lumino Industries IPO Allotment and Listing Date

The Lumino Industries IPO will remain open until August 31, 2026. The basis of allotment is expected to be finalised on September 1.

Refunds are scheduled to begin on September 2, while shares are expected to be credited to successful applicants on the same day.

The tentative listing date is September 3, 2026, on both BSE and NSE.

About Lumino Industries Ltd.

Lumino Industries is an engineering, procurement and construction (EPC) company operating in the power transmission and distribution space.

The company manufactures and supplies products such as conductors, power cables, electrical wires and specialised products. It also manufactures high-temperature low-sag conductors used in transmission and distribution lines.

Its operations are broadly divided into manufacturing and EPC. The manufacturing business covers aluminium conductors, power cables and electrical wires, while its EPC activities include power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management projects.

Conclusion

Lumino Industries IPO has started on a positive note, with the issue already subscribed 1.81 times by the morning of Day 2. NII and retail investors are currently showing the strongest interest, while QIB participation remains limited at this stage.

Since the IPO is still open until August 31, the subscription figures can change significantly over the remaining bidding days. The final response will become clearer once the issue reaches its closing day.

Source:

• https://www.nseindia.com/market-data/issue-information?symbol=LUMINO&series=EQ&type=Active