Power sector IPO News: stock marketCurrently the IPO season is in full swing. In this way, a company has made everyone happy as soon as it got listed. Shares of the power wire and cable maker have earned investors good money on the first day.
Share listed at how much rupees?
of Lumino Industries IPO It was priced at Rs. The stock was listed on September 3 and jumped as soon as it got listed. The share was listed at Rs 109 on BSE and Rs 110 on NSE. That means people who invested in the IPO got 34 percent profit in a single day.
Stormy response to IPO
The Rs 700 crore IPO was directly oversubscribed 124 times. 124 people were vying for one share. Big companies ie QIBs outbid 232 times. Large investors i.e. NIIs invested 185 times and small i.e. retail investors 40 times more. The portion which was for the employees of the company was also filled 12 times. Even before the IPO, the company had raised Rs 207 crore from anchor investors. IPO Listing Today:
What is the exact company?
What does Lumino Industries do? So this company works in the field of transmission and distribution. In simple words, this company makes all the wires that are on the big electricity towers, the wiring that is in the house, and the power cables. Not only this, it is also an EPC company, i.e. Engineering, Procurement and Construction. It supplies its goods to big companies and also sells its goods abroad.
The company manufactures specialty HTLS conductors. These are conductors that withstand high temperatures and do not bend much. It is currently in high demand. Along with this, the company also undertakes electrification of railways, construction of large substations, solar projects and water management projects.
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Where will the money be used?
The money raised from the IPO will be used by the company to repay its debt. The company currently has a debt of Rs 384 crore. A large part of it will be paid. The rest of the money will be used by the company to buy new machines for its factory, for construction and other works.
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How is the company's profitability?
In the financial year 2025-26, the company's revenue has increased by 7 percent to Rs 2089 crore. Earlier it was 1946 crores. And the net profit has increased by 28 percent. Profit has directly gone from 124 crores to 160 crores. That's why people showed so much faith in this IPO. Currently good companies are getting good price in the market. Lumino also did not disappoint investors on day one.