The initial public offering of Lumino Industries received strong demand on the final day of bidding, with the issue subscribed 104.62 times, according to NSE data.
The QIB category saw the highest demand, with the portion subscribed 211.25 times. The NII portion was booked 155.41 times, while retail investors subscribed 25.88 times. The employee portion was subscribed 8.95 times.
The company raised ₹207 crore from anchor investors ahead of the IPO,
The company had fixed a price band of ₹78-82 per equity share for its IPO, comprising a fresh issue of up to ₹500 crore and an offer-for-sale of up to ₹200 crore by promoters Devendra Goel and Jay Goel.
Of the proceeds from the fresh issue, ₹337 crore will be utilised for payment of debt. Another ₹15 crore will be used for capital expenditure, including the 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.