June 18, 2025
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Three Companies Get SEBI Green Light for IPOs: Lumino Industries, M&B Engineering, and Sunshine Pictures Gear Up for Market Debut
In a significant move for India’s capital markets, Lumino Industries, M&B Engineering, and Sunshine Pictures have received the go-ahead from the Securities and Exchange Board of India (SEBI) to proceed with their initial public offerings (IPOs). SEBI issued its crucial observation letters last week—signaling that each of the companies can now launch their IPOs within the next 12 months.
Lumino Industries Aims to Raise Rs.1,000 Crore
Kolkata-based Lumino Industries, a key player in the conductors and power cables space, is looking to raise ₹1,000 crore through its maiden public issue. The IPO, filed on January 20, 2025, will include:
- A fresh issue of Rs.600 crore, and
- An offer-for-sale (OFS) of Rs.400 crore by promoters Devendra Goel and Jay Goel.
The company, which serves India’s power transmission and distribution sector, is also eyeing a potential ₹120 crore pre-IPO placement. Backing the IPO are top merchant bankers—Motilal Oswal Investment Advisors, JM Financial, and Monarch Networth Capital.
M&B Engineering to Raise Rs.650 Crore for Growth
Ahmedabad-based M&B Engineering, one of India’s top players in pre-engineered buildings (PEBs) and steel roofing solutions, filed its draft papers on February 17. SEBI granted its approval on June 11.
The proposed Rs.650 crore IPO will feature:
- A fresh issue worth Rs.275 crore, and
- An OFS of Rs.375 crore by the company’s promoters.
The issue is being managed by Equirus Capital and DAM Capital Advisors.
Sunshine Pictures Lights Up the IPO Radar
Film production company Sunshine Pictures, helmed by producer-director Vipul Amrutlal Shah, also received SEBI’s nod for its IPO on June 13. Known for hit films like The Kerala Story, Commando, Holiday, and Force, the company filed its draft red herring prospectus on December 31, 2024.
The upcoming IPO will include:
- A fresh issue of 50 lakh equity shares, and
- An offer-for-sale of 33.75 lakh shares by the promoters.
GYR Capital Advisors will act as the sole book-running lead manager for the offering.
