Lumino Industries files draft papers with SEBI for ₹1,000 crore IPO

Lumino Industries Limited has filed its draught reddish herring prospectus (DRHP) with the superior marketplace regulator, Securities and Exchange Board of India (SEBI), for an archetypal nationalist offering (IPO).

Lumino Industries Ltd, based successful Kolkata, is simply a salient subordinate successful the integrated engineering, procurement, and operation (EPC) assemblage successful India. The institution is product-centric and specializes successful the manufacturing and proviso of a divers scope of products, including conductors, powerfulness cables, electrical wires, and specialized components tailored for the powerfulness organisation and transmission sector.

One of their cardinal offerings is the high-temperature low-sag (HTLS) conductors, which are important for enhancing the ratio of transmission and organisation lines. With their absorption connected innovation and quality, Lumino Industries contributes importantly to the advancements wrong the powerfulness sector.

Lumino Industries has positioned itself competitively wrong the industry, notably comparing its show with cardinal players specified arsenic Apar Industries Ltd, Bajel Projects Ltd, JSK Industries Private Ltd, Kalpataru Projects International Ltd, KEC International Ltd, KEI Industries Ltd, Sterlite Power Transmission Ltd, and Universal Cables Ltd.

Between FY22 and FY24, Lumino Industries distinguished itself by becoming the 3rd fastest-growing institution among these competitors successful presumption of Operating EBITDA. This accomplishment highlights the company’s beardown fiscal show and strategical maturation initiatives successful a dynamic market.

The connection for merchantability involves shareholders selling shares worthy up to ₹300 crore by Devendra Goel and up to ₹100 crore by Jay Goel. The proceeds from the caller contented purpose to rise ₹420 crore for the prepayment oregon repayment, either afloat oregon partially, of definite outstanding borrowings by the Company. An further ₹15.08 crore volition beryllium allocated for superior expenditure to acquisition instrumentality and machinery, transportation retired civilian works, and heighten the interior of an existing manufacturing facility, on with funds for wide firm purposes.

The book-running pb managers for this contented are Motilal Oswal Investment Advisors Ltd, JM Financial Ltd, and Monarch Network Capital Ltd, portion Bigshare Services Private Ltd is designated arsenic the registrar of the issue.

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21 Jan 2025, 03:25 PM IST