The draft red herring prospectus for Lumino Industries Limited's initial public offering has been filed with SEBI. The Kolkata-based company, which manufactures conductors and cables and specialized in the EPC industry, hopes to raise ₹600 crore through the sale.
The Securities and Exchange Board of India (SEBI), which oversees the capital markets, has received Lumino Industries Limited's draft red herring prospectus (DRHP) for an IPO.One of the leading companies in India's integrated engineering, procurement, and construction (EPC) market is Lumino Industries Ltd., which has its headquarters in Kolkata. The company is focused on producing and supplying a wide variety of goods, such as electrical wires, conductors, power cables, and specialty parts for the power transmission and distribution industry.
High-temperature low-sag (HTLS) conductors, which are essential for improving the efficiency of transmission and distribution lines, are among their main products. By emphasizing quality and innovation, Lumino Industries makes a substantial contribution to the development of the power industry.
By contrasting its performance with that of major players like Apar Industries Ltd, Bajel Projects Ltd, JSK Industries Private Ltd, Kalpataru Projects International Ltd, KEC International Ltd, KEI Industries Ltd, Sterlite Power Transmission Ltd, and Universal Cables Ltd, Lumino Industries has established a competitive position for itself in the market.
Lumino Industries set itself apart from these competition by becoming the third fastest-growing firm in terms of Operating EBITDA between FY22 and FY24. This accomplishment demonstrates the business's solid financial results and planned expansion plans in a changing market.
By contrasting its performance with that of major players like Apar Industries Ltd, Bajel Projects Ltd, JSK Industries Private Ltd, Kalpataru Projects International Ltd, KEC International Ltd, KEI Industries Ltd, Sterlite Power Transmission Ltd, and Universal Cables Ltd, Lumino Industries has established a competitive position for itself in the market.
Lumino Industries set itself apart from these competition by becoming the third fastest-growing firm in terms of Operating EBITDA between FY22 and FY24. This accomplishment demonstrates the business's solid financial results and planned expansion plans in a changing market.
Details of the IPO
The IPO, which has a face value of ₹5, consists of both an offer-for-sale by promoter selling shareholders up to ₹400 crore and new share issuance up to ₹600 crore. In the employee reservation section of the offer, qualified employees can also reserve a subscription.
According to the offer, owners can sell shares worth up to ₹100 crore from Jay Goel and up to ₹300 crore from Devendra Goel. The new issue's proceeds are intended to raise ₹420 crore, which will be used to either totally or partially repay some of the company's outstanding debts. An extra ₹15.08 crore would be set aside for capital expenditures to buy machinery and equipment, do civil work,and improve an existing manufacturing facility's interior, in addition to providing funding for regular business needs.
The IPO, which has a face value of ₹5, consists of both an offer-for-sale by promoter selling shareholders up to ₹400 crore and new share issuance up to ₹600 crore. In the employee reservation section of the offer, qualified employees can also reserve a subscription.
According to the offer, owners can sell shares worth up to ₹100 crore from Jay Goel and up to ₹300 crore from Devendra Goel. The new issue's proceeds are intended to raise ₹420 crore, which will be used to either totally or partially repay some of the company's outstanding debts. An extra ₹15.08 crore would be set aside for capital expenditures to buy machinery and equipment, do civil work,and improve an existing manufacturing facility's interior, in addition to providing funding for regular business needs.
Bigshare Services Private Ltd is the issue's registrar, and Motilal Oswal Investment Advisors Ltd, JM Financial Ltd, and Monarch Network Capital Ltd are the book-running lead managers.
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