SEBI Clears IPO Path for Lumino Industries, M&B Engineering, and Sunshine Pictures

Mumbai, 17 June 2025: The Securities and Exchange Board of India (SEBI) has given the go-ahead for the initial public offerings (IPOs) of three firms — Lumino Industries, M&B Engineering, and Sunshine Pictures — by issuing observation letters on their draft red herring prospectuses. The approvals were granted on June 9, June 11, and June 13, respectively. With regulatory clearance now secured, the companies are authorised to proceed with their IPO launches within the next 12 months.

Lumino Industries to Raise ₹1,000 Crore Through IPO Route

Kolkata-headquartered Lumino Industries, a major player in the manufacturing of conductors and power cables, has received the green signal to raise ₹1,000 crore via its public offering.

The issue structure includes:

• Fresh issue of ₹600 crore
• Offer-for-sale (OFS) of ₹400 crore by promoters Devendra Goel and Jay Goel

In addition to the IPO, the company has the option to explore a ₹120 crore pre-IPO placement.

Motilal Oswal Investment Advisors, JM Financial, and Monarch Networth Capital are the appointed merchant bankers managing the issue.

M&B Engineering Gets SEBI Approval for ₹650 Crore IPO

Based in Ahmedabad, M&B Engineering, engaged in pre-engineered building solutions and self-supported roofing systems, has received approval for its ₹650 crore IPO.

The offering consists of:

• Fresh equity issue worth ₹275 crore
• OFS amounting to ₹375 crore by existing promoters

The IPO will be handled by Equirus Capital and DAM Capital Advisors as the designated lead managers.

Sunshine Pictures Plans IPO, Takes Entertainment Industry to Bourses

Sunshine Pictures, founded by renowned producer-director Vipul Amrutlal Shah and known for hits like The Kerala Story, Commando, and Force, is ready to make its debut in the capital markets.

The IPO comprises a total of 83.75 lakh equity shares, broken down as follows:

• Fresh issue of 50 lakh shares
• OFS of 33.75 lakh shares by the promoters

GYR Capital Advisors has been appointed as the sole book-running lead manager for the offering.

Cross-Sector Listings Signal Market Optimism

These recent approvals highlight SEBI’s continued support for companies seeking to tap the equity markets across diverse verticals — from power infrastructure and engineering construction to film and media production. The upcoming IPOs will serve as crucial tests for market appetite in an environment marked by economic optimism and growing investor interest in sectoral diversification.

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