City-based Lumino Industries, an engineering, procurement and construction (EPC) company, with a focus on manufacturing and supplying conductors, power cables and electrical wires and other specialised products, has received Sebi’s approval to raise ₹1,000 crore through its initial public offering.

The IPO is a mix of fresh issue of shares up to ₹600 crore and an offer-for-sale up to ₹300 crore by Devendra Goel and up to ₹100 crore by Jay Goel, promoters of the company.

The company had filed its IPO papers with Sebi on January 20, 2025.

The proceeds from the fresh issue to the extent of ₹420 crores would be utilised for meeting debt obligations, ₹15.08 crore for capex and other corporate purposes.

The company operates under two primary business segments — manufacturing and EPC, and it 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.

As of September 30, 2024, Lumino Industries reported an aggregate order book of ₹1,803.53 crores.

Lumino Industries Limited’s revenue from operations increased 85.12 per cent from ₹760.21 crore in FY23 to ₹1,407.31 crore in FY24.