OFS comprises a share sale of Rs 300 crore by Devendra Goel and Rs 100 crore by Jay Goel.
The company may consider raising a total of up to Rs 120 crore of equity under a pre-IPO offering. Once such arrangement is complete, the size of the new issue will be reduced.
Of the proceeds from the new issue, Rs 420 million will be used to pay down debt and Rs 15.08 billion will be used for purchase of equipment and machinery, civil works and interior development of existing manufacturing facilities. Some are used for general corporate purposes.
Lumino Industries is an Indian product-focused integrated engineering, procurement and construction (EPC) company specializing in the manufacturing and supply of conductors, power cables, wires and other specialty components for the power distribution and transmission sectors.
The company serves a wide range of customers including Kalpataru Projects International Ltd, Jakson Ltd, Warora Kurnool Transmission Ltd and Monte Carlo Ltd. Internationally, its customers include government-owned utility companies and switchboards in countries such as the United States, Nepal, and Bangladesh. , Kenya, Ghana, Rwanda and Ethiopia. As of September 30, 2024, Lumino Industries reported total order value of Rs 1,803.53 million. On the financial front, Lumino Industries’ operating revenue for FY24 increased by 85.12 per cent to Rs 1,407.31 crore from Rs 760.21 crore in the previous fiscal, while profit increased to Rs 8,661 crore from Rs 19.40 crore in the previous fiscal. I did. .
Motilal Oswal Investment Advisors, JM Financial and Monarch Network Capital are the lead book-running managers and Bigshare Services is the registrar for the issue.
The shares are proposed to be listed on the National Stock Exchange of India and the BSE.
