Lumino Industries IPO
CLOSEDMAINBOARDLUMINOSUBSCRIBEListing Performance
▲ 34.15%
Issue Price
₹82
Listing Price
₹110
Listed On
03 Sep 2026
- Price Band
- ₹78 – ₹82
- Lot Size
- 182
- Lot Value
- ₹14,924
- Open Date
- 27 Aug 2026
- Close Date
- 31 Aug 2026
- Min Investment
- ₹14,924
About Lumino Industries
Lumino Industries makes and sells everyday consumer goods and specialized industrial parts. The company operates through two main areas: a lighting and electronics division that produces items like LED bulbs, and an industrial division that supplies parts to other businesses. By manufacturing everything in-house at its own factories, Lumino is able to design and control its products, which it sells nationwide through a large network of shops and dealers. <span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span>
Use of IPO Proceeds
Total allocation: ₹0.00 Cr (excludes issue expenses)
Promoters
Purushottam Dass Goel
Chairperson, Non-Executive Director · age 76
Pre-issue: 0.33%
Devendra Goel
Managing Director · age 52
Pre-issue: 49.03%
Jay Goel
Whole Time Director · age 28
Pre-issue: 35.54%
Investment Analysis
Quick Analysis: 5 strengths · 5 risk factors· Exchange: BSE, NSE
Strengths (5)
- •Established market leadership and a diverse, well-recognized product portfolio.
- •Vertically integrated manufacturing capabilities that enable cost-efficiency and quality assurance.
- •Pan-India presence with an extensive, multi-channel distribution and service network.
- •Consistent financial growth is demonstrated by strong revenue and profitability trends.
- •Innovation focus supported by dedicated in-house research and development facilities.
Risk Factors (5)
- •High dependence on the performance of the Indian economy.
- •Fluctuations in raw material prices can impact margins.
- •Intense competition from domestic and international players.
- •Changes in government regulations and policies could adversely affect business.
- •Inability to adapt to technological changes and consumer preferences.
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
“Strong investor demand with 104x subscription suggests positive listing momentum. GMP indicates market expects a listing premium.”
- ✅Oversubscribed 104x
- ✅Strong QIB demand 211x
- ✅High GMP +59%
- ✅5 business strengths identified
- ⚠️5 risk factors noted
- ✅Mainboard IPO (higher regulatory standards)
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 182 | ₹14,924 |
| Retail (max) | 13 | 2,366 | ₹1,94,012 |
| S-HNI (min) | 14 | 2,548 | ₹2,08,936 |
| S-HNI (max) | 66 | 12,012 | ₹9,84,984 |
| B-HNI (min) | 67 | 12,194 | ₹9,99,908 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 | Day 5 |
|---|---|---|---|---|
| QIB | 0.04x | 0.05x | 211.25x | 211.25x |
| sNII (S-HNI) | 2.20x | 7.44x | 111.72x | 111.67x |
| bNII (B-HNI) | 1.16x | 4.84x | 177.26x | 177.26x |
| Retail | 0.94x | 3.32x | 26.02x | 25.62x |
| Total | 0.80x | 2.86x | 104.69x | 104.49x |
Colour: red <1x · green 1–5x · blue 5–10x · orange >10x.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
25.62x
Allotment Ratio
1 lot per 26 applicants
Allotment Probability
~3.9%
Non-Institutional Investors (NII / HNI)
Subscription
155.40x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
211.25x
Allotment Type
Discretionary allotment
Total Subscription
104.49x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
IPO Timeline
Issue Opens
27 Aug 2026 · Thu
Issue Closes
31 Aug 2026 · Mon
UPI Deadline
31 Aug 2026 · Mon
Allotment
01 Sep 2026 · Tue
Refund
02 Sep 2026 · Wed
Share Credit
02 Sep 2026 · Wed
Listing
03 Sep 2026 · Thu
Issue Opens
27 Aug 2026 · Thu
Issue Closes
31 Aug 2026 · Mon
UPI Deadline
31 Aug 2026 · Mon
Allotment
01 Sep 2026 · Tue
Refund
02 Sep 2026 · Wed
Share Credit
02 Sep 2026 · Wed
Listing
03 Sep 2026 · Thu
IPO Details
| Registrar | Bigshare Services Private Limited |
| Exchange | BSE, NSE |
| ISIN | — |
| Face Value | ₹5 |
| Issue Size | ₹700.00 Cr |
| Fresh Issue | ₹600.00 Cr |
| OFS Size | ₹400.00 Cr |
| Lead Managers | Motilal Oswal Investment Advisors Limited, JM Financial Limited, Monarch Networth Capital Limited |
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 947.62 | 64.31 | — | — | — |
| FY24 | 1,407.32 | 86.63 | — | — | — |
| FY23 | 760.21 | 19.4 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Income | 773.1 | 1,427.03 | 969.62 |
| EBITDA | 52.37 | 162.38 | 122.32 |
| Cash Flow — Operating | 71.83 | -92.17 | -298.51 |
| Cash Flow — Investing | -143.66 | -3.58 | 22.08 |
| Cash Flow — Financing | 84.21 | 98.83 | 297.18 |
From the company's offer document (DRHP/RHP); restated figures where available.
Company Fundamentals
10 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | ₹3.04 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: Lumino Industries offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Lumino Industries's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Lumino Industries's filing.
Source: Lumino Industries offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Devendra Goel₹30.00 Cr
- Jay Goel₹10.00 Cr
Source: Lumino Industries offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Purushottam Dass Goel
Chairperson and Non-Executive Director
- Devendra Goel₹4.96 Cr p.a.
Managing Director
Associated with the Company since April 4, 2005
- Jay Goel₹4.96 Cr p.a.
Whole-time Director
Associated with the Company since August 2, 2018
- Hemant Sultania
Independent Director
Associated with the Company since December 20, 2024
- Amitabh Mathur
Independent Director
Bachelor's degree in Science (Mechanical Engineering) and Master's degree in Business Administration from University of Delhi
Associated with the Company since December 20, 2024; previously served on board of Bharat Heavy Electrical Limited and Chennai Petroleum Corporation Limited
- Shalu Laxmanraj Bhandari
Independent Director
Bachelor's degree in Commerce from University of Mumbai; Company Secretary and Fellow Member of the Institute of Company Secretaries of India
Associated with the Company since December 20, 2024; practising as company secretary for more than two decades; associated with Bajaj Hindusthan Sugar Limited as independent director since 2016
Key Managerial Personnel (2)
- Ajay Kumar Luharuka₹0.04 Cr p.a.
Chief Financial Officer
Bachelor's degree in Commerce from University of Calcutta; Qualified Chartered Accountant certified by the Institute of Chartered Accountants of India
Associated with the Company since November 1, 2013; previously associated with Wim Plast Limited as accounts officer
- Roshaan Davve₹0.01 Cr p.a.
Company Secretary and Compliance Officer
Bachelor's degree in Commerce from University of Calcutta; Company Secretary and Member of the Institute of Company Secretaries of India
Associated with the Company since September 17, 2022; previously associated with Terai Tea Company Limited and Deepak Industries Limited
Source: Lumino Industries offer document (DRHP/RHP).
Industry & Market
Per CRISIL Report, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Our Company | — | 3.56 | 21.52 | 18.3 |
| Apar Industries Limited | 47.35 | 212.1 | 27.01 | 964.35 |
| Bajel Projects Limited | 683.78 | 0.37 | 0.76 | 49.11 |
| Kalpataru Projects International Limited | 38.36 | 31.37 | 13.24 | 254.79 |
| KEC International Limited | 73.38 | 13.49 | 9.53 | 147.96 |
| KEI Industries Limited | 63.96 | 64.25 | 20.26 | 348.7 |
| Universal Cables Limited | 24.56 | 31.19 | 6.62 | 511.54 |
Material Litigation
The company faces 23 tax proceedings (₹257.17 million aggregate), 1 criminal proceeding (₹120.40 million), and 2 material civil litigations. Directors face 3 criminal proceedings and 12 tax proceedings (₹38.62 million aggregate). Promoters face 11 tax proceedings (₹36.90 million aggregate). Recent income tax demands of ₹46.91 million relating to AYs 2015-16 to 2019-20 for treating unsecured loans as unexplained cash credit are under appeal.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Bigshare Services Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Lumino Industries IPO opening?
The Lumino Industries IPO opens on 27 Aug 2026 and closes on 31 Aug 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Lumino Industries IPO?
The price band for the Lumino Industries IPO is ₹78 to ₹82. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Lumino Industries IPO?
The minimum lot size is 182 shares with a minimum investment of ₹14,924. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Lumino Industries IPO today?
The latest Grey Market Premium for Lumino Industries is ₹48 (+58.54%). GMP is unofficial data and is not a guarantee of listing price.
When will the Lumino Industries IPO list on NSE and BSE?
The Lumino Industries IPO is expected to list on 03 Sep 2026 on BSE, NSE. Actual listing day trading begins at the start of the normal market session.
How can I check the Lumino Industries IPO allotment status?
The registrar for this IPO is Bigshare Services Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Lumino Industries IPO a mainboard or SME issue?
Lumino Industries is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Lumino Industries IPO?
You can apply for the Lumino Industries IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of Lumino Industries IPO?
Based on the current GMP of ₹48, the expected listing price of Lumino Industries is ₹130 (issue price ₹82 + GMP ₹48). Note that GMP is unofficial grey market data and actual listing price may differ.
What is the allotment ratio for Lumino Industries IPO?
Based on the retail subscription of 25.62x, the estimated allotment ratio is 1 lot per 26 applicants (approximately 3.9% chance of allotment). This is an estimate and actual allotment may vary.
Should I subscribe to Lumino Industries IPO?
Based on our algorithmic analysis, Lumino Industries IPO is rated SUBSCRIBE with high confidence. Strong investor demand with 104x subscription suggests positive listing momentum. GMP indicates market expects a listing premium. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| Symbiotec Pharmalab | 01 Sep 2026 | +0.00% |
| Skyways Air Services | 01 Sep 2026 | -38.89% |
| Hy-Tech Engineers | 01 Sep 2026 | +41.51% |
Related IPOs
Related Articles
How to Analyse an Indian IPO in Under 60 Minutes: A Retail Investor's Checklist
A practical, DRHP-first framework retail investors can use to size up an Indian IPO quickly, covering financials, valuation, peer comparison, use of proceeds and risk factors.
Read more →
How-ToHow to Read Broker and Influencer IPO Recommendations Critically
IPO tips flood social media and broker channels during every busy listing season. Here is how to tell credible analysis from paid hype, what SEBI actually requires, and the red flags worth checking before you trust any recommendation.
Read more →
How-ToHow to Analyse an Upcoming IPO in India: A 10-Step Framework for Retail Investors
A step-by-step guide to analysing an upcoming IPO in India, from reading the DRHP to comparing valuation with peers and treating grey market premium as a secondary signal.
Read more →