Lumino Industries has filed preliminary papers with the capital markets regulator SEBI. The IPO is a combination of fresh issue of INR 600 crore, and an offer-for-sale of INR 400 crore worth shares by promoters Devendra Goel, and Jay Goel.

Jan 20, 2025

Kolkata-based conductors & power cables maker, Lumino Industries, has filed preliminary papers with the capital markets regulator SEBI to raise INR 1,000 crore via initial public offering.

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The IPO is a combination of fresh issue of INR 600 crore, and an offer-for-sale of INR 400 crore worth shares by promoters Devendra Goel, and Jay Goel. Further, the company may consider fund raising of up to inr 120 crore in the pre-IPO round.

The INR 420 crore out of fresh issue proceeds will be utilized for repaying debt. Further, INR 15.08 crore will be used for purchase of equipment and machinery, civil works and interior development of existing manufacturing facilities.

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Lumino Industries supplies conductors, power cables and other specialised products to large EPC players such as Kalpataru Projects International, Jackson, Warora Kurnool Transmission, KGN Electricals, WRSS XXI (A) Transco, Monte Carlo and RS Infraprojects. It also caters these products to international clients in countries such as the United States of America, Nepal, Bangladesh, Kenya, Ghana, Rwanda and Ethiopia.