Lumino Industries Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, detailing the utilization of its Initial Public Offer (IPO) proceeds. The report, issued by CRISIL Ratings Limited, indicates no deviation in the utilization towards the stated objects. However, a portion of the unutilized proceeds was invested in debt mutual funds, which is noted as not being in line with the interim use specified in the Offer document.
Monitoring Agency Report for Q3 2026
Lumino Industries Limited has submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report, prepared by CRISIL Ratings Limited as per SEBI regulations, details the utilization of funds raised through the company’s Initial Public Offer (IPO).
Utilization of Proceeds
The report states there has been no deviation in the utilization of funds towards the objects of the issue. The gross proceeds from the Fresh Issue amounted to ₹5,000.00 million, with net proceeds after deducting issue expenses totaling ₹4,625.92 million.
Deployment of Unutilized Funds
Notably, a portion of the unutilized proceeds, amounting to ₹500.00 million, was parked in debt mutual funds. The report clarifies that this investment in debt mutual funds is not in line with the interim use of proceeds as specified in the Offer document. However, this mutual fund investment was redeemed by the Company on October 28, 2026, and the redemption amount was credited to the monitoring agency account.
Key Object-wise Utilization
The report breaks down the utilization by specific objects:
- Repayment/pre-payment of outstanding borrowing: An amount of ₹2,640.80 million was utilized during the quarter, leaving an unutilized balance of ₹729.20 million.
- Capital expenditure for existing manufacturing facility: No utilization occurred during the quarter, with the entire proposed amount of ₹150.13 million remaining unutilized.
- General corporate purposes: During the quarter, ₹604.08 million was utilized, bringing the total utilized amount to ₹604.08 million and leaving ₹504.61 million unutilized. This included utilization towards working capital loans and repayment of term loans.
- Issue expenses: An amount of ₹174.01 million was utilized during the quarter, with a remaining unutilized amount of ₹197.17 million. The company transferred ₹174.01 million from its monitoring account to its cash credit account as reimbursement for these expenses.
The total unutilized amount across all objects at the end of the quarter was ₹1,581.11 million.
Source: BSE
