Luminex Limited IPO oversubscribed

The Initial Public Offering (IPO) of Luminex Limited, through an offer for subscription of 31,250,000 shares at a price of Rs. 8 per share to raise Rs. 250 million was fully subscribed yesterday.

Following the oversubscription, the issue was closed at 4.30 p.m. yesterday. 

The issue amounts to 11.52 percent stake of the company subsequent to the IPO. Funds raised from the IPO will be utilised to enhance the working capital to scale up by consolidating local operations. 

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.