Lumino Industries is aiming for 25% growth as the company repositions its business around wires and cables, according to Managing Director Devendra Goel.

Goel said the company's ₹700-crore IPO will be used primarily to repay debt and strengthen the balance sheet. Lumino is also targeting EBITDA margins in the range of 10–11%, and he noted that new product launches could further improve profitability and cash flows. The emphasis on debt reduction is a common feature of recent wires and cables IPOs in India, where proceeds are typically earmarked for deleveraging rather than fresh capacity, reflecting the working-capital-intensive nature of the business.

The planned public offering comes as the Indian wires and cables industry continues to expand, driven by demand from power transmission and distribution, infrastructure development, housing, and industrial projects. The segment has benefited from sustained government capex on power infrastructure and electrification, alongside rising housing and industrial activity, which together support volume growth across the value chain. Companies in the sector have increasingly tapped the primary market to fund capacity expansion and deleveraging, and the industry has seen a string of listings in recent years as manufacturers seek capital to meet growing order books.

The shift in focus toward wires and cables marks a strategic realignment for Lumino Industries, which, like many players in the space, is looking to capitalise on sustained demand in the power and infrastructure segments. For readers tracking the sector, key metrics to watch include Lumino's ability to hit its targeted 10–11% EBITDA margins, the pace of new product rollouts, and utilisation of IPO proceeds toward debt reduction.

Source: CNBC-TV18