Lumino Industries IPO Debuts Following Strong Subscription Demand
· Business · Economic Times, LiveMint
Lumino Industries is set to make its stock market debut on September 3 with shares trading at a 45% premium in the grey market. The 700-crore IPO, which featured a price band of 78 to 82 rupees, was subscribed 124.02 times overall. Qualified institutional buyers led the demand, subscribing to their portion 232.79 times, while the retail portion saw 40.27 times subscription. The issue includes a fresh issue of 500 crore and an offer for sale of 200 crore by promoters Devendra Goel and Jay Goel. Shares will be listed on both the NSE and BSE.
Why it matters
The strong subscription and grey market premium suggest high investor confidence in the company's debut, potentially impacting short-term market sentiment for the stock.
Read the original report — Economic Times
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