The OFS consists of the sale of shares to the tune of Rs 300 crore by Devendra Goel and Rs 100 crore by Jay Goel.
The company may consider raising equity shares aggregating up to Rs 120 crore under pre-IPO placement. If such placement is completed, the fresh issue size will be reduced.
Proceeds from the fresh issue to the extent of Rs 420 crore will be used for payment of debt, Rs 15.08 crore for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility; and a portion will be used for general corporate purposes.
Lumino Industries is a product-centric, integrated engineering, procurement, and construction (EPC) company in India, specialising in the manufacturing and supply of conductors, power cables, electrical wires, and other specialised components for the power distribution and transmission sector.
The company caters to a wide range of clients such as Kalpataru Projects International Ltd, Jakson Ltd, Warora Kurnool Transmission Ltd, and Monte Carlo Ltd. Internationally, its clientele includes government-owned utilities and electricity boards in countries like the US, Nepal, Bangladesh, Kenya, Ghana, Rwanda, and Ethiopia. As of September 30, 2024, Lumino Industries reported an aggregate order book of Rs 1,803.53 crore. On the financial front, Lumino Industries’ revenue from operations increased by 85.12 per cent to Rs 1,407.31 crore in fiscal 2024 from Rs 760.21 crore in the preceding fiscal and profit rose to Rs 86.61 crore in fiscal 2024 from Rs 19.40 crore in the previous financial year.
Motilal Oswal Investment Advisors, JM Financial and Monarch Network Capital are the book-running lead managers, while Bigshare Services is the registrar to the issue.
The equity shares are proposed to be listed on the National Stock Exchange of India and BSE.
