Mumbai, Jun 17 (UNI) Lumino Industries, a leading player in the EPC and manufacturing business with expertise in the power and energy sectors, said today that it has received capital markets regulator, Securities and Exchange Board of India’s (SEBI) nod to raise Rs 1,000 crore through an initial public offering (IPO).

The IPO, with a face value of Rs 5, is a mix of fresh issues of shares up to Rs 600 crore and an offer-for-sale up to Rs 300 crore by Devendra Goel and up to Rs 100 crore by Jay Goel

The Kolkata headquartered company had filed its IPO papers with SEBI on January 20.

Rs. 420 crores from the proceeds of the fresh issue would be used for prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company. Rs 15.08 crore would be utilised for capital expenditure by the Company for purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility; and general corporate purposes.



The company operates under two primary business segments—Manufacturing and EPC and its focuses on designing, engineering, manufacturing, and distributing specialised solutions for diverse applications, including power distribution, industrial uses, renewable energy, communication systems, electrical panels, and railway networks, it said in a media release.

Motilal Oswal Investment Advisors Limited, JM Financial Limited, and Monarch Network Capital Limited are the book-running lead managers and Bigshare Services Private Limited is the registrar of the issue.

The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.

UNI JS SSP