Rs. 250 m Luminex IPO draws applications worth Rs. 187 m so far

Tuesday, 31 May 2022 01:57 - - {{hitsCtrl.values.hits}}

The Rs. 250 million worth Initial Public Offering of Luminex Ltd. has attracted applications valued at Rs. 187 million.

The company’s IPO involves 11.52% stake amounting to 31.25 million shares at Rs. 8 each. The IPO opened on 19 May and closed on 7 June. As of 27 May, it had received 356 applications requesting for 23.37 million shares.

Of those 43 via payments made by bank drafts/cheques worth Rs. 143.6 million, 282 were with payments made by SLIPS/RTGS worth Rs. 40 million and 31 applications with payments made by way of direct cash deposits to the IPO account worth Rs. 3.2 million.

Established over three decades ago Luminex is a leading engineering company and market leader in telecom infrastructure engineering and is also involved in electrical, civil and water projects as well.

Funds raised from the IPO will be utilised to enhance the working capital to scale up by consolidating local operations. Navara Capital Ltd. is the financial advisor and issue manager.