Lumino Industries IPO receives 4.87 times subscription on day 2

New Delhi, Aug 28 (PTI) The initial public offering of Lumino Industries Ltd attracted 4.87 times subscription on the second day of the share sale on Friday.

The IPO received bids for 30,76,48,978 shares against 6,32,05,127 shares on offer, as per details available with the NSE.

The portion for non-institutional investors garnered 7.78 times subscription, and the quota meant for retail investors was subscribed 6.50 times. The category for qualified institutional buyers (QIBs) received 6 per cent subscription.

Lumino Industries Ltd on Tuesday raised Rs 207 crore from anchor investors.

The company has fixed a price band of Rs 78-82 per equity share for its IPO. The issue will close on August 31.

The IPO comprises a fresh issue of equity shares worth

up to Rs 500 crore and an offer-for-sale (OFS) of up to Rs 200 crore by promoters Devendra Goel and Jay Goel.

Of the proceeds from the fresh issue, Rs 337 crore will be utilised for payment of debt; another Rs 15 crore will be used for capital expenditure, including purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility. The remaining proceeds will be utilised for general corporate purposes.

Lumino Industries is a product-driven integrated engineering, procurement and construction (EPC) player in India. PTI SUM SUM BAL BAL