Lumino Industries IPO Subscription Day 2: Issue Subscribed 5.14 Times

Mumbai, August 28: The Lumino Industries IPO got a much better response on the second day of bidding. By 5:05 PM on August 28, the ₹700 crore issue had been subscribed 5.14 times.

Demand was largely driven by non-institutional and retail investors. The NII portion was subscribed 8.18 times, while the retail category reached 6.87 times. QIB (Ex Anchor), on the other hand, was still at just 0.06 times.

The IPO opened on August 27 and will remain open for subscription until August 31, 2026.

Lumino Industries IPO Subscription Status

NII investors have so far shown the strongest appetite for the issue. The category received bids for 10,32,01,462 shares against 1,26,21,951 shares on offer, translating into a subscription of 8.18 times.

The sNII portion was ahead at 12.70 times, while bNII stood at 5.91 times.

Retail investors also came in strongly, bidding for 20,23,79,268 shares against 2,94,51,219 shares available. This took the retail subscription to 6.87 times.

The QIB (Ex Anchor) portion had received bids for 9,91,172 shares against 1,68,29,268 shares offered, resulting in 0.06 times subscription. The employee portion was subscribed 1.84 times.

Overall, investors had bid for 30,88,21,786 shares against 6,01,21,950 shares offered.

Day-wise Subscription Details (times)

The IPO started with a 1.51 times subscription on Day 1. Interest picked up noticeably on Day 2, taking the overall figure to 5.14 times.

NII subscription jumped from 2.20 times on the first day to 8.18 times, while retail demand rose from 2.08 times to 6.87 times.

The IPO is still open for subscription and will close on August 31.

Lumino Industries IPO Details

Lumino Industries is looking to raise ₹700 crore through a mix of fresh issue and offer for sale. The price band has been fixed at ₹78 to ₹82 per share.

With a lot size of 182 shares, retail investors need ₹14,924 to apply for one lot at the upper end of the price band.

Lumino Industries IPO Lot Size

Investors can apply for a minimum of 182 shares and then increase their bid in multiples of the same lot size.

At the upper price of ₹82 per share, one retail lot costs ₹14,924.

About Lumino Industries Ltd.

Lumino Industries Ltd., incorporated in 2005, operates in the engineering, procurement and construction space. Its business is focused mainly on products and services used across the power transmission and distribution sector.

The company manufactures conductors, power cables, electrical wires and other specialised products. It also makes high-temperature low-sag conductors, which are used in transmission and distribution networks.

Conclusion

Lumino Industries IPO has picked up pace on Day 2, with the overall issue now subscribed 5.14 times. NII investors are currently driving demand at 8.18 times, while retail subscription has reached 6.87 times.

QIB participation remains low at 0.06 times, so institutional demand will be worth watching as the issue heads into its final bidding day.

The IPO will close on August 31, after which the final subscription figures and allotment process will take centre stage.

Source:

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