Lumino Industries IPO Subscription Status Day 1 Issue
Lumino Industries IPO Day 1: Issue Gets 1.42× Subscription, Retail Demand Leads
Lumino Industries' RS 700 crore IPO received a 1.42x subscription on the first day of bidding. The issue saw comparatively stronger participation from retail investors.
The IPO comprises a fresh issue of up to RS 500 crore and an Offer for Sale of up to RS 200 crore by promoters Jay Goel and Devendra Goel. The company plans to use the fresh issue proceeds mainly for debt repayment, capital expenditure and general corporate purposes.
Lumino Industries IPO Subscription
On the first day, Lumino Industries received bids for 8,97,57,122 shares against 6,32,05,127 shares available for subscription, according to NSE data.
The retail investor category was subscribed 43%, while the Non-Institutional Investor (NII) category and Qualified Institutional Buyer (QIB) portion had received 2,76,89,298 and 7,18,172 bids at the time of the update.
Investors can also visit our IPO page to track subscription updates and other upcoming public issues.
Lumino Industries IPO Category-Wise Subscription
| Sr. No. | Category | No. of Times of Total Meant for the Category |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 0.04 |
| 2 | Non-Institutional Investors | 2.09 |
| 3 | Retail Individual Investors (RIIs) | 1.95 |
| 4 | Employees | 0.70 |
| - | Total | 1.42 |
Lumino Industries IPO Overview and Purpose
Lumino Industries is offering 6.32 crore shares. crore equity shares, comprising a fresh issue of up to 75 lakh shares and an Offer for Sale (OFS) of up to 32 lakh shares by the company's promoters, Jeevanand Ghosh and Pradip Ghosh.
The company plans to use approximately RS 33.7 crore from the fresh issue proceeds towards debt repayment and capital expenditure, including the purchase of machinery and equipment, as well as civil works and interior development at an existing manufacturing plant.
The remaining funds will be used for general corporate purposes.
Lumino Industries IPO Price Band
The price band for the IPO has been fixed at RS 78 to RS 82 per share. Investor participation over the remaining subscription period will provide a clearer picture of the overall demand for the issue.
Conclusion
Lumino Industries' IPO received a positive response on the first day of bidding, with the issue subscribed 0.8x so far. The retail portion has seen relatively stronger demand compared to the non-institutional category, while the QIB segment is yet to receive bids.
With the price band fixed at RS 78–RS 82 per share, investors will be able to assess the overall demand as bidding continues through the remaining subscription period.
Disclaimer
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