Summary:
Lumino Industries IPO subscription rose to 4.87x on Day 2, driven by strong NII demand at 7.78x and retail subscription at 6.50x. QIB participation remained low at 0.05x, leaving institutional demand as the key factor to watch ahead of the August 31 closing.
Lumino Industries, the Howrah-based EPC company manufacturing conductors, power cables, and electrical wires, saw subscription climb further on Day 2 of its ₹700 crore mainboard IPO, with overall demand reaching 4.87 times as of the update on August 28, 2026.
IPO Details
| Detail | Information |
|---|---|
| Issue Size | ₹700 crore (fresh issue ₹500 crore + OFS ₹200 crore) |
| Price Band | ₹78–₹82 per share |
| Lot Size | 182 shares |
| Minimum Investment (Retail) | ₹14,924 |
| Face Value | ₹5 per share |
| IPO Open Date | August 27, 2026 |
| IPO Close Date | August 31, 2026 |
| Registrar | Bigshare Services Pvt Ltd |
| Book-Running Lead Managers | Motilal Oswal Investment Advisors, JM Financial, Monarch Networth Capital |
Category-wise Breakdown on Day 2
| Category | Shares Offered/Reserved | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 1,78,92,307 | 9,10,772 | 0.05 |
| Non Institutional Investors | 1,32,69,231 | 10,31,82,776 | 7.78 |
| — NII (bids above ₹10 lakh) | 88,46,154 | 4,97,50,910 | 5.62 |
| — NII (bids ₹2–10 lakh) | 44,23,077 | 5,34,32,109 | 12.08 |
| Retail Individual Investors (RIIs) | 3,09,61,538 | 20,12,25,570 | 6.50 |
| Employees | 12,82,051 | 22,49,520 | 1.75 |
| Total | 6,32,05,127 | 30,76,48,978 | 4.87 |
Data as of 28-Aug-2026, 7:00 PM IST, sourced from NSE Consolidated Bid Details (nseindia.com).
Lumino Industries IPO - Day 2 Subscription Status
As of the update on August 28, 2026, the issue received bids for 30,76,48,978 shares against 6,32,05,127 shares on offer, taking overall subscription to 4.87 times. Non-Institutional Investors led the demand at 7.78 times, followed by Retail Individual Investors at 6.50 times, while Employees stood at 1.75 times and Qualified Institutional Buyers remained near-negligible at 0.05 times.
What Day 2 Numbers Indicate
Subscription climbing from 1.42 times on Day 1 to 4.87 times by Day 2 shows strong continued demand from NII and retail investors, even as QIB bidding stays almost entirely dormant. Within the NII category, the ₹2–10 lakh bracket (12.08x) significantly outpaced the above-₹10-lakh bracket (5.62x), suggesting smaller HNIs remain far more aggressive bidders than larger applicants at this stage. With QIB bidding still near zero, institutional demand — which typically surges only in the final session of mainboard issues — will be the key swing factor determining the overall subscription level by close on August 31.
Lumino Industries IPO - Timetable
| Event | Date |
|---|---|
| IPO Open Date | August 27, 2026 |
| IPO Close Date | August 31, 2026 |
| Allotment Finalisation | September 1, 2026 |
| Refund Initiation | September 2, 2026 |
| Demat Credit | September 2, 2026 |
| Listing Date | September 3, 2026 |
| Listing Exchanges | BSE, NSE |
Should You Apply for Lumino Industries IPO?
Incorporated in 2005 and headquartered in Howrah, West Bengal, Lumino Industries is an ISO 9001:2015 certified, product-driven, integrated EPC company with over three decades of experience, specialising in manufacturing and supplying conductors, HTLS conductors, power cables, and electrical wires for power transmission and distribution, renewable energy, and railway applications. The company operates two production plants with a combined capacity to process 40,000 MT of aluminium annually, and sells both under its own brand, Lumicon, and as a B2B solutions provider. Revenue grew from ₹1,946.68 crore in FY25 to ₹2,089.31 crore in FY26, with profit after tax rising 28% to ₹160 crore, and a PAT margin of 7.66%.
Investors considering the issue should weigh the company's long operating history, expanding PAT margins, and captive manufacturing integration against sector-specific risks such as raw material price volatility (aluminium and copper), execution risk on large EPC projects, and dependence on power sector capex cycles. As with any IPO, the decision should be based on individual risk appetite, investment horizon, and a review of the RHP rather than subscription numbers alone.
How to Apply for Lumino Industries IPO
Investors can apply for the Lumino Industries IPO through ASBA via their bank's net banking portal, via UPI-based ASBA through their stock broker's trading app, or offline by submitting a physical ASBA form through their broker. The minimum lot size is 182 shares, requiring a minimum investment of approximately ₹14,924 at the upper price band, with retail investors eligible to apply for up to 13 lots.
How to Check Lumino Industries IPO Subscription Status
How to check Lumino Industries IPO Subscription Status on NSE website
- Visit the NSE IPO issue information page (nseindia.com).
- Search for "Lumino Industries" or enter the symbol LUMINO.
- Select "Consolidated Bid Details" from the dropdown to view category-wise subscription data.
- The page refreshes periodically to show live bidding figures during market hours.
How to check Lumino Industries IPO Subscription Status on BSE website
- Visit the BSE IPO page (bseindia.com).
- Navigate to the "Active IPO" or "IPO Bidding" section.
- Select "Lumino Industries Limited" from the list of active issues.
- View category-wise and overall subscription figures, updated through the bidding window.
How to check Lumino Industries IPO Subscription Status on Ventura?
Ventura clients can track real-time subscription status for the Lumino Industries IPO directly within the IPO section of the Ventura app or web platform, alongside category-wise bid data and allotment updates — without needing to switch between exchange websites.
IPO Subscription History
Previous Day Subscription
The issue opened with strong demand on Day 1, closing at 1.42 times overall subscription, led by Non-Institutional Investors at 2.09 times and Retail Individual Investors at 1.95 times, while QIB bidding stayed almost entirely dormant at 0.04 times.
Conclusion
Lumino Industries' IPO continues to build strong momentum on Day 2, with overall subscription reaching 4.87 times on the back of heavy NII and retail participation. With two more days of bidding ahead until the issue closes on August 31, institutional demand will be the key factor to watch, as QIB bidding typically sees a sharp final-day surge in mainboard issues.
