Mumbai, June 17 -- Lumino Industries, a leading player in the EPC and manufacturing business with expertise in the power and energy sectors, said today that it has received capital markets regulator, Securities and Exchange Board of India's (SEBI) nod to raise Rs 1,000 crore through an initial public offering (IPO).
The IPO, with a face value of Rs 5, is a mix of fresh issues of shares up to Rs 600 crore and an offer-for-sale up to Rs 300 crore by Devendra Goel and up to Rs 100 crore by Jay Goel
The Kolkata headquartered company had filed its IPO papers with SEBI on January 20.
Rs. 420 crores from the proceeds of the fresh issue would be used for prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by t...