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Lumino Industries IPO: Rs 207 Cr Anchor Funding Secured

By ThePip DeskLumino Industries IPO: Rs 207 Cr Anchor Funding Secured

Lumino Industries Ltd raises Rs 207 Cr from anchor investors ahead of its IPO opening Aug 27. Price band Rs 78-82. Funds for debt repayment & capex.

Lumino Industries Ltd secured Rs 207 crore from anchor investors as its Initial Public Offering (IPO) approaches. The company allocated over 2.52 crore equity shares at Rs 82 per share to these investors.

IPO Details at a Glance

  • Price Band: Rs 78-82 per equity share
  • Issue Opening: August 27
  • Issue Closing: August 31
  • Fresh Issue: Up to Rs 500 crore
  • Offer-for-Sale (OFS) by Promoters: Up to Rs 200 crore

The anchor investor list included several notable names. These institutions committed funds ahead of the public subscription period.

Anchor Investors

  • Citigroup Global Markets Mauritius
  • SBI General Insurance Company
  • Bajaj Life Insurance
  • Silver Stride India Global Fund
  • 3PIM India Equity (IFSC) Fund

A significant portion of the IPO proceeds is earmarked for strategic financial maneuvers. This includes debt reduction and facility enhancements.

Planned Use of Funds

  • Debt Repayment: Rs 337 crore
  • Capital Expenditure: Rs 15 crore (for equipment, machinery, civil works, and existing facility interior development)
  • General Corporate Purposes: Remaining funds

Lumino Industries operates as an integrated engineering, procurement, and construction (EPC) player in India. The company focuses on product-driven solutions within its sector.

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