Latest Sectors News
The 100 MW group captive solar project in Tamil Nadu will supply power to TP Solar, Tata Electronics and Tata Realty, while taking TPREL's operational capacity past 7 GW View More
Lumino Industries IPO received strong investor participation on its final bidding day. The issue saw significant oversubscription across all investor categories. Grey market premium indicates expectations for a strong listing debut. Proceeds will fund debt reduction and capital expenditure plans. The company operates in the power transmission and distribution sector. View More
The Lumino Industries IPO received strong investor participation on the final day of bidding, with the issue getting subscribed 118.12 times against the 6.32 crore shares on offer, according to NSE data. The issue has also gained momentum in the grey market, with the grey market premium (GMP) rising to 74% from 68% earlier, pointing to expectations of a potentially strong listing gain. Investor participation was strong on the second day of bidding, with the IPO subscribed 4.87 times overall. The issue received bids for shares against the 6.32 crore shares on offer. Retail investors displayed even stronger interest. The IPO has been priced in the range of Rs 78 to Rs 82 per share. Of the total Rs 700 crore issue size, Rs 500 crore will be raised through a fresh issue of 6.10 crore shares, while the remaining Rs 200 crore will come through an offer for sale (OFS) of 2.44 crore shares by promoters Devendra Goel and Jay Goel. Live Events The Lumino Industries IPO opened on August 27 and will close today, August 31, 2026. The company's shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for September 3, 2026. At the upper end of the price band of Rs 82 per share, retail investors will need Rs 14,924 to apply for one lot comprising 182 shares. At the IPO price band, Lumino Industries is valued at a price-to-earnings (P/E) multiple of 11.87 times at the lower end and 12.48 times at the upper end, based on diluted FY26 earnings. The valuation appears relatively modest compared with the FY26 industry peer-group average P/E of 48.55 times, according to the company's offer document. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd. is the registrar. Ahead of the IPO, Lumino Industries raised Rs 206.99 crore from anchor investors on August 25, 2026. The company allotted 2,52,43,901 equity shares at Rs 82 apiece to 30 anchor investors. Lumino Industries IPO subscription status The Qualified Institutional Buyers (QIB) portion was subscribed 221.43 times against the 1.76 crore shares reserved for the category. The Non-Institutional Investors (NII) portion was subscribed 176.42 times against 1.32 crore shares available for subscription. The Retail Individual Investors (RII) portion was subscribed 38.50 times against the 3.09 crore shares on offer. Lumino Industries IPO GMP today The Lumino Industries IPO Grey Market Premium (GMP) stands at Rs 61, representing a 74% premium over the upper issue price of Rs 82 per share. At the current GMP, the estimated listing price is around Rs 143 per share, suggesting a potentially strong debut if the grey market trend remains unchanged. However, investors should keep in mind that GMP is an unofficial indicator and can fluctuate before the stock's listing. It reflects market sentiment but does not guarantee actual listing gains. Lumino Industries IPO proceeds A substantial portion of the fresh issue proceeds is earmarked for reducing the company's debt. Lumino Industries plans to use approximately Rs 337 crore for the prepayment or repayment of certain outstanding borrowings. The company also proposed spending around Rs 15.01 crore on capital expenditure, including equipment and machinery purchases, civil works, and interior development at an existing manufacturing facility. The remaining proceeds will be deployed towards general corporate purposes. Lumino Industries' financial performance The company reported an improvement in both revenue and profitability in FY26. Total income rose 7% to Rs 2,089.31 crore in FY26, compared with Rs 1,946.68 crore in FY25. More significantly, Profit After Tax increased 28% to Rs 160 crore, from Rs 124.59 crore in FY25. The stronger growth in profit compared with total income points to an improvement in the company's earnings performance during the year. About Lumino Industries Established in 2005, Lumino Industries is an integrated engineering, procurement and construction (EPC) and manufacturing company focused on India's power transmission and distribution sector. The company manufactures conductors, power cables, electrical wires, and high-temperature low-sag (HTLS) conductors used in power transmission and distribution infrastructure. Its EPC business covers power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management projects. We serve major EPC players in India and international customers, including government-owned electricity companies, public enterprises, and electricity boards across several countries. As of March 31, 2026, Lumino Industries had 890 permanent employees. With the Rs 78–Rs 82 price band now set, the next major trigger for Lumino Industries will be anchor investor participation on August 25, followed by the response from retail and institutional investors when the IPO opens on August 27. Should you subscribe? According to Anand Rathi Research, Lumino Industries’ integrated EPC and manufacturing model, strong Rs 3,149.9 crore order book, healthy financial performance and exposure to growing power transmission, renewable energy and wires & cables markets offer strong long-term growth potential. The brokerage also sees support from capacity expansion, higher-margin EHV projects, rising exports and strong execution capabilities. At the upper price band, the IPO is valued at 15.5x FY26 P/E and 9.6x EV/EBITDA. Considering the company’s growth prospects and industry tailwinds, Anand Rathi has assigned a “Subscribe – Long Term” rating to the issue. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Amazon shut down rooftop solar systems at all 47 of its North American sites in 2021 after six facilities reported fires or arc flash incidents. A later audit found one critical and 259 significant issues across its global solar portfolio, including mismatched connectors, improper installation, poor wire management and water intrusion in inverters. View More
What the sector needs now is steady, disciplined execution, extending what already works in frontrunner states like Maharashtra until it becomes the norm rather than the exception View More
Lumino Industries’ Rs 700 crore IPO is drawing strong investor interest, with the issue subscribed 4.87 times on Day 2 and the grey market premium rising to 68%. The IPO comprises a Rs 500 crore fresh issue and a Rs 200 crore OFS, while Anand Rathi has assigned a “Subscribe - Long Term” rating, citing the company’s strong order book, financial performance and exposure to power infrastructure. View More
The Rs 700 crore Lumino Industries IPO entered its second day of bidding amid strong investor demand, with a robust grey market premium adding to the buzz around the issue. The IPO’s grey market premium (GMP) has climbed to 68%, up from 61% earlier, signalling expectations of a potentially strong listing gain. Investor appetite was clearly visible on the opening day. The IPO was subscribed 4.87 times overall, with bids received for the issue against 6.32 crore shares on offer. Of the total Rs 700 crore issue, Rs 500 crore will come through a fresh issue of 6.10 crore shares, while the remaining Rs 200 crore will be raised through an offer for sale (OFS) of 2.44 crore shares by promoters Devendra Goel and Jay Goel. The IPO will remain open from August 27 to August 31, 2026. The shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for September 3, 2026. At the upper price band of Rs 82, retail investors will need Rs 14,924 to bid for one lot of 182 shares. Live Events At the IPO price band, Lumino Industries is valued at a P/E multiple of 11.87 times at the lower end and 12.48 times at the upper end, based on diluted FY26 earnings. That valuation looks relatively modest when compared with the FY26 industry peer-group average P/E of 48.55 times, according to the company's offer document. Motilal Oswal Investment Advisors Ltd. is the book running lead manager, and Bigshare Services Pvt. Ltd. is the registrar. is the registrar of the issue. Lumino Industries has raised Rs 206.99 crore from anchor investors ahead of its IPO on August 25, 2026. The company allotted 2,52,43,901 equity shares at Rs 82 apiece to 30 anchor investors. Lumino Industries IPO subscription status Lumino Industries IPO witnessed a strong response from investors on Day 2, with the issue getting 4.87 times subscribed against the 6.32 crore shares on offer, showed the NSE data. Retail Individual Investors (RIIs): 6.50 times subscribed against 3.09 crore shares offered.Non-Institutional Investors (NIIs): 7.78 times subscribed against 1.32 crore shares on offer.Qualified Institutional Buyers (QIBs): 6% subscribed against 1.76 crore shares offered. Lumino Industries IPO GMP today The Lumino Industries IPO GMP stands at Rs 56, or a 68% premium over the upper issue price of Rs 82 per share. At the current grey market premium, the estimated listing price works out to around Rs 138 per share, indicating a potentially strong debut if the GMP trend holds. However, investors should note that GMP is unofficial and can fluctuate before listing. It is only an indicator of market sentiment and does not guarantee actual listing gains. Lumino Industries IPO proceeds A substantial portion of the fresh issue proceeds is earmarked for reducing the company's debt. Lumino Industries plans to use approximately Rs 337 crore for the prepayment or repayment of certain outstanding borrowings. The company also proposed spending around Rs 15.01 crore on capital expenditure, including equipment and machinery purchases, civil works, and interior development at an existing manufacturing facility. The remaining proceeds will be deployed towards general corporate purposes. Lumino Industries' financial performance The company reported an improvement in both revenue and profitability in FY26. Total income rose 7% to Rs 2,089.31 crore in FY26, compared with Rs 1,946.68 crore in FY25. More significantly, Profit After Tax increased 28% to Rs 160 crore, from Rs 124.59 crore in FY25. The stronger growth in profit compared with total income points to an improvement in the company's earnings performance during the year. About Lumino Industries Established in 2005, Lumino Industries is an integrated engineering, procurement and construction (EPC) and manufacturing company focused on India's power transmission and distribution sector. The company manufactures conductors, power cables, electrical wires and high-temperature low-sag (HTLS) conductors, which are used in power transmission and distribution infrastructure. Its EPC business covers power transmission and distribution, EHV substations, HTLS re-conductoring, railway electrification, solar power projects and water management projects. The company caters to major EPC players in India and also serves international customers, including government-owned electricity companies, public enterprises and electricity boards across several countries. As of March 31, 2026, Lumino Industries had 890 permanent employees. With the Rs 78–Rs 82 price band now set, the next major trigger for Lumino Industries will be anchor investor participation on August 25, followed by the response from retail and institutional investors when the IPO opens on August 27. Should you subscribe? According to Anand Rathi Research, Lumino Industries’ integrated EPC and manufacturing model, strong Rs 3,149.9 crore order book, healthy financial performance and exposure to growing power transmission, renewable energy and wires & cables markets offer strong long-term growth potential. The brokerage also sees support from capacity expansion, higher-margin EHV projects, rising exports and strong execution capabilities. At the upper price band, the IPO is valued at 15.5x FY26 P/E and 9.6x EV/EBITDA. Considering the company’s growth prospects and industry tailwinds, Anand Rathi has assigned a “Subscribe - Long Term” rating to the issue. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
On August 28, investors are likely to watch Hero MotoCorp, Tejas Networks, and Zee Entertainment due to recent developments. The Indian stock market closed lower on Thursday, with Nifty 50 and BSE Sensex slipping, indicating a potential end to their recent winning streak. View More
GK Energy announced that it has received a Letter of Empanelment (LOE) from a leading State Government-owned power distribution utility for Grid Connected Rooftop Solar Photovoltaic Projects. View More
New regulations have been established, permitting plug-in solar kits of up to 800 watts in residential settings. These systems promise substantial annual savings on electricity expenses, making renewable energy more attainable for renters and flat owners alike. Rigorous safety standards are in place to ensure secure connections, mitigating any electrical risks. This breakthrough aligns with Great Britain's rising demand for sustainable residential solar energy solutions. View More