Enter search text: LIVE BLOG03 Sep 2026 | 04:50:52 PM ISTLumino Industries Share Price LiveSynopsisLumino Industries Share Price Live Updates: Shares of Lumino Industries made a strong debut on the stock exchanges on Thursday, listing at a 34% premium over the IPO price. The stock opened at Rs 110 on the NSE and Rs 109 on the BSE, compared with its issue price of Rs 82 per share.Lumino Industries Share Price Live Updates: Lumino Industries, which was open for subscription from August 27 to August 31, witnessed strong demand from investors and was subscribed 124.02 times overall. The retail investor portion was subscribed 40.27 times, while the non-institutional investor (NII) category saw 185.21 times subscription. Qualified institutional buyers (QIBs) led the demand, with their portion receiving bids for 232.79 times the shares on offer. Show more Show less1 New UpdateDeepa Jewellers IPO GMP Today Live Updates: Issue subscribed over 40xTotal: 42.41 timesRetail Individual Investors (RIIs): 18.22 timesNon-Institutional Investors (NIIS): ​105.82 timesQualified Institutional Buyers (QIBs): 37.00 timesDeepa Jewellers IPO GMP Live Updates: Key datesThe IPO will open for subscription on September 1, 2026, and close on September 3. The share allotment is expected to be finalised on September 4, while the company’s shares are tentatively scheduled to list on both the NSE and BSE on September 8.Rays of Belief IPO GMP Today Live Updates: Brokerage viewAccording to Master Capital Services, Rays of Belief Limited operates in a fast-growing NDD therapy market. India’s NDD market was valued at Rs 5,262.3 crore​ in CY25, with ASD, ADHD and cerebral palsy contributing around 73%. The company is well positioned to benefit from rising awareness and demand for specialised therapies, with 136 centres across 57 cities, 340+ clinical professionals and over 58,000 children served. Its expansion into the US further strengthens its growth prospects.IPO GMP Today Live Updates: Rays of Belief IPO Subscription StatusTotal: 101.59 timesRetail Individual Investors (RIIs): 177.12 timesNon-Institutional Investors (NIIS): ​271.08 timesQualified Institutional Buyers (QIBs): 7.36 timesDeepa Jewellers IPO GMP Today Live Updates: Issue subscribed over 35xTotal: 35.82 timesRetail Individual Investors (RIIs): 15.68 timesNon-Institutional Investors (NIIS): ​98.22 timesQualified Institutional Buyers (QIBs): 23.83 timesIPO GMP Today Live Updates: Masters Capital Services says Deepa Jewellers is well positioned to benefit from growing demandMaster Capital Services says Deepa Jewellers appears well positioned to benefit from the growing demand for organised jewellery. Its B2B-focused business model, presence across key South Indian markets, established customer and karigar network, 15-member in-house design team, and expertise in processing and supplying hallmarked 22-karat gold jewellery—including Vardaman and CNC machine-cut bangles—provide it with several competitive strengths.Rays of Belief IPO GMP Live Updates: Key risksRays of Belief Ltd. faces risks from operating largely on leasedpremises, with substantial fit-out investments potentially unrecoverable if leasesare not renewed. Revenue concentration across select regions, Tier 2 cities,related-party export arrangements and newly acquired US centres may impactfinancial performance. Dependence on Licensed Professionals for partneredcentres creates operational risk if agreements are terminated. Declining childrenserved could affect growth, while client retention remains critical. The Companyhas also reported past losses and negative cash flows, including negativeoperating and investing cash flows in FY26, potentially affecting liquidity andshareholder valueRays of Belief IPO GMP Live Updates: ValuationRays of Belief Ltd. demonstrates strong growth potential, supported byincreasing revenue, improving revenue per centre and continued regionalexpansion. The expanding centre network provides opportunities for deeperpenetration into underserved markets and supports long-term growth. However,the Company’s high P/E of 100x indicates an expensive valuation and suggeststhe stock is overvalued relative to its current earnings. Additionally, declining PATand PAT margins indicate pressure on profitability, while the reduction in RoEreflects weakening capital efficiency. Considering the strong growth prospects butelevated valuation and profitability concerns, we assign a Neutral rating.Rays of Belief IPO GMP Live Updates: FinancialsRays of Belief Ltd. reported strong revenue growth in FY26, withRevenue from Operations rising to ₹81.66 crore from ₹36.42 crore in FY25 and₹30.61 crore in FY24. Growth was supported by centre operations, export ofservices and overseas revenue. EBITDA increased to ₹11.91 crore from ₹3.02crore in FY25, while EBITDA margin improved to 14.59% from 8.28%. However,PAT declined to ₹4.96 crore from ₹5.88 crore, resulting in a lower PAT margin of6.07%. RoE also declined to 21.64% from 56.56% in FY25, indicating weakercapital efficiency during the year.Rays of Belief IPO GMP Live Updates: Key strategiesRays of Belief Ltd. aims to continue expanding its centre networkwhile improving cost efficiencies across operations. The Company plans to attractand retain qualified clinical professionals through continuous training, knowledgesharing and upskilling initiatives, strengthening the quality of care. It will alsocontinue its R&D efforts to integrate modern technology into therapy services andenhance its service portfolio. Further, the Company intends to strengthen its valueleadership, while increasing brand awareness and fostering brand loyalty tosupport customer engagement, market penetration and sustainable long-termgrowth.Rays of Belief IPO GMP Live Updates: Key strengthsRays of Belief Ltd. holds a strong position as India’s first-rankingenterprise by number of centres offering intervention plans for children with NDDs,providing extensive accessibility across underserved markets. The Companydelivers comprehensive, multidisciplinary and high-quality care through a clientfocused approach tailored to individual developmental needs. Its R&D-drivenapproach supports continuous improvement in intervention methods, while digitaladaptability enhances accessibility and service delivery. Additionally, anexperienced and professional management team provides strong strategicdirection, supporting the Company’s expansion, operational execution and abilityto address the evolving needs of children with NDDs.IPO GMP Today Live Updates: Rays of Belief IPO Subscription StatusSubscription StatusTotal: 46.44 timesRetail Individual Investors (RIIs): 105.71 timesNon-Institutional Investors (NIIS): ​108.92 timesEmployee Reserved: 0 timesQualified Institutional Buyers (QIBs): 2.72 timesRays of Belief IPO GMP Live Updates: Market opportunityIndia’s neurodevelopmental disorders (NDD) care andintervention market presents a significant growth opportunity, supported by risingprevalence of conditions such as Autism Spectrum Disorder, ADHD and CerebralPalsy, increasing awareness, earlier diagnosis and greater acceptance ofprofessional therapies. The NDD market was estimated at ₹52,623 million as ofMarch 2025, with ASD, ADHD and Cerebral Palsy accounting for a substantialshare. Demand is further supported by limited availability of structured andaffordable developmental care, particularly across Tier 2 and Tier 3 cities, creatingopportunities for expansion and wider access.IPO GMP Today Live Updates: Deepa Jewellers IPO Subscription StatusSubscription StatusTotal: 15.19 timesRetail Individual Investors (RIIs): 11.38 timesNon-Institutional Investors (NIIS): ​42.47 timesEmployee Reserved: 0 timesQualified Institutional Buyers (QIBs): 0.89 timesRays of Belief IPO GMP Live Updates: GMP TodayThe strong subscription for the Rays of Belief IPO comes as grey market trends point to a robust listing for the company. Ahead of its market debut, the company’s unlisted shares were commanding a grey market premium (GMP) of 20-23% over the IPO price, according to platforms tracking grey market activity.Deepa Jewellers IPO GMP Live Updates | Financial PerformanceDeepa Jewellers Ltd. reported a strong financial performance in FY26, with total income rising 38% to Rs 1,927.73 crore from Rs 1,400.10 crore in FY25, reflecting robust business expansion during the year.Profit growth was significantly stronger, with profit after tax (PAT) surging 158% to Rs 104.79 crore from Rs 40.58 crore a year earlier. The sharp rise in earnings points to a marked improvement in profitability and overall financial performance.Deepa Jewellers IPO GMP Live Updates | Objects of the IssueThe company plans to use the net IPO proceeds primarily to strengthen its working capital. Of the total proceeds, Rs 215 crore will be allocated towards the procurement, maintenance and expansion of inventory to support long-term growth and operational needs. The remaining funds will be used for general corporate purposes.IPO GMP Live Updates | Deepa Jewellers IPO GMP TodayThe Deepa Jewellers IPO GMP is currently reported at Rs 24 per share, implying a 13.54% premium over the upper end of the IPO price band of Rs 177. Based on the prevailing grey market premium, the estimated listing price stands at around Rs 201 per share, calculated as Rs 177 plus the Rs 24 GMP.Rays of Belief IPO GMP Live Update: Should You Subscribe?According to Master Capital Services, Rays of Belief Limited operates in India’s rapidly growing neurodevelopmental disorders (NDD) therapy market. The country’s NDD market was valued at ₹52,623 million in CY25, with autism spectrum disorder (ASD), ADHD and cerebral palsy accounting for around 73% of the market.The company is positioned to benefit from increasing awareness and rising demand for specialised therapies. Its network of 136 centres across 57 cities, supported by more than 340 clinical professionals, has enabled it to serve over 58,000 children. The company’s expansion into the US market further adds to its growth opportunities.Rays of Belief IPO GMP Live Update: About Rays of BeliefFounded in 2017, Rays of Belief Ltd. is a social enterprise that provides personalised care and intervention programmes for children with neurodevelopmental disorders such as autism, ADHD, Down Syndrome and cerebral palsy.Operating under its Mom’s Belief brand, the company has significantly expanded its footprint, growing from 71 centres in FY23 to 136 centres across 57 cities and 20 states and Union Territories as of March 31, 2026. Its network has a strong presence in Tier 2 and Tier 3 cities.IPO GMP Live Updates: Deepa Jewellers IPO Day 3: GMP falls to 13%, issue booked 6.55x. Should you subscribe?The Deepa Jewellers IPO entered its third and final day of bidding on Thursday, attracting decent investor interest. In the grey market, the issue was commanding a 13% premium, down from around 25% on Wednesday, pointing to some moderation in investor sentiment.Priced in the range of Rs 168–177 per equity share, the IPO seeks to raise Rs 459.72 crore through a combination of a fresh issue and an offer for sale (OFS). The subscription window closes on September 3.IPO GMP Live Updates | Rays of Belief IPO subscribed 14x on Day 3 so far, retail portion booked 49x as GMP rises to 20%. Should you subscribe?The Rays of Belief IPO continued to attract strong investor interest on the third and final day of bidding, with the issue subscribed nearly 14 times its offer size. Grey market trends also pointed to a strong listing for the for-profit social enterprise.Rays of Belief IPO GMP Live Update: Financial PerformanceRays of Belief Ltd. recorded a 125% year-on-year increase in total income, which rose to Rs 82.06 crore in FY26 from Rs 36.54 crore in FY25.However, the sharp growth in income did not translate into higher profitability. The company’s profit after tax (PAT) fell 16% year-on-year to Rs 4.96 crore in FY26 from Rs 5.88 crore in FY25, reflecting pressure on margins and overall profitability despite the strong revenue growth.Rays of Belief IPO GMP Live Update: Objects of the IssueThe Company plans to utilise the Net Proceeds of the Issue primarily to expand and strengthen its learning and education infrastructure. The funds will be used to establish Company Learning Centres and centres in partnership with Licensed Professionals, involving an investment of Rs 26.88 crore, along with School Collaboration Centres at Rs 5.54 crore. The Company also proposes to allocate Rs 2.45 crore towards a Centre for Excellence and Research and Rs 2.05 crore towards an Upskilling Academy.Purple Style IPO GMP Live Updates: Company backgroundIncorporated in August 2015, Purple Style Labs Limited isa multi-brand luxury omnichannel fashion platform operating under Pernia’s Pop-UpShop. The Company offers curated luxury fashion across womenswear, menswear,jewellery, accessories and kidswear, with a focus on wedding and occasion wear.Its omnichannel model includes Experience Centers, digital platforms, events andexhibitions. With 14 Experience Centers globally, the Company serves customersacross India and international markets including the US, UK and Middle East. It alsoconnects leading designer brands with a wider domestic and global customer basePurple Style Labs IPO GMP Live Updates: About the companyPurple Style Labs operates Pernia’s Pop-Up Shop, a luxury fashion platform offering a curated selection of designer products across womenswear, menswear, jewellery, accessories and kidswear. The platform has a particular focus on wedding and occasion wear.Purple Style Labs IPO GMP Live Updates: IPO detailsPurple Style Labs IPO was a book-built issue of Rs 680 crore, comprising entirely a fresh issue of 1.18 crore equity shares. The IPO did not include any offer-for-sale (OFS) component, while the price band was set at Rs 546-575 per share.Ahead of the public issue, the company raised Rs 306 crore from anchor investors. Axis Capital served as the book-running lead manager for the IPO, while KFin Technologies acted as the registrar to the issue.IPO GMP Live Updates: Should you buy, sell or hold Lumino Industries shares?Attractive valuations compared with EPC and cable peers, healthy profitability reflected in an EBITDA margin of 11.71%, and the highest return on net worth (RoNW) among key peers supported a positive view on Shivani Nyati. The Head of Wealth at Swastika Investmart also highlighted the company’s planned debt reduction using IPO proceeds, which could help bring down finance costs going forward.However, the company’s high dependence on government and PSU clients remains a key risk. These customers account for 53-86% of revenue, exposing the company to tender-driven business and potentially uneven cash flows, the analyst noted.For IPO allottees, Nyati suggested considering partial profit booking while holding the remaining shares with a trailing stop-loss in the Rs 98-100 range. Fresh investors, meanwhile, should avoid chasing the stock after its sharp listing gains and wait for some consolidation.According to the analyst, a sustained move above Rs 110-112 with strong volumes could push the stock towards Rs 120-125. Medium-term investors can consider holding the stock with prudent position sizing.Purple Style Labs IPO allotment likely today. Check status, GMP and listing outlookPurple Style Labs IPO allotment is expected to be finalised on Thursday, following the closure of the Rs 680 crore issue on Wednesday. The IPO, which opened for subscription on August 31, was subscribed 1.36 times by the final day, driven by demand from retail investors and qualified institutional buyers.The retail investor portion was subscribed 1.66 times, while the qualified institutional buyers (QIB) category, excluding anchor investors, was subscribed 1.5 times. The non-institutional investor (NII) portion received 0.89 times subscription.IPO GMP Live Updates: Lumino Industries shares soar 40% from IPO price after strong market debut. Should you buy or wait?Shares of Lumino Industries gained another 4% on Thursday after making a strong debut on the stock exchanges, with the stock listing at a premium of more than 34% over its IPO price earlier in the day. Analysts have advised fresh investors to wait for better entry levels, while IPO allottees have been advised to closely monitor key support and resistance levels.Deepa Jewellers IPO Day 3 GMP Live Updates: Key strategiesDeepa Jewellers Ltd. plans to establish an in-housemanufacturing facility to enhance its production capabilities and operationalcontrol. The company intends to further strengthen its presence in Southern Indiathrough new sales offices, enabling closer engagement with customers andexpanding market reach. It also aims to broaden its product portfolio by introducingnew categories, designs and SKUs to address evolving customer preferences.Brand-building and marketing initiatives, including participation in trade exhibitionsand shows, are expected to improve visibility. Additionally, the company plans toleverage technology to enhance operational efficiencyLumino Industries IPO Live Updates: Business ModelIncorporated in 2005, Lumino Industries Ltd. is an integrated engineering, procurement and construction (EPC) company in India, with a focus onmanufacturing and supplying conductors, power cables, electrical wires and specialised products for the power transmission and distribution industry.Company operates through two distinct but inter-connected business segments, (i) Manufacturing; and (ii) EPC, with the Manufacturing segmentsupporting both external sales and internal requirements of the EPC segment.Deepa Jewellers IPO Day 3 GMP Live Updates: FinancialsDeepa Jewellers Ltd. reported strong financial growth, with revenuefrom operations increasing from ₹1,024.57 crore in FY24 to ₹1,397.01 crore inFY25 and ₹1,926.68 crore in FY26. EBITDA rose from ₹35.77 crore to ₹56.01crore and ₹146.34 crore, while PAT increased from ₹24.35 crore to ₹40.58 croreand ₹104.79 crore, respectively. EBITDA margin improved to 7.60%, while PATmargin reached 5.44% in FY26. ROE and ROCE strengthened to 56.45% and52.08%, respectively, alongside declining debt-equity to 0.47xDeepa Jewellers IPO Day 3 GMP Live Updates: ValuationDeepa Jewellers Ltd. presents a positive growth and valuation outlook,supported by consistent increases in revenue, profitability and margins. Improvingoperational efficiency, reflected in stronger returns and working-capitalmanagement, further strengthens its financial profile. The expanding customerbase and established relationships with major jewellery retail chains provide astable foundation for future growth.While customer and regional concentrationremain considerations, the company’s established client relationships providesome comfort. Additionally, declining debt-to-equity indicates improving financialstability and lower leverage. Based on these factors, we assign a Subscribe –Long Term rating to the companyDeepa Jewellers IPO Day 3 GMP Live Updates: Key risksDeepa Jewellers Ltd. faces several concentration and procurement-related risks that could impact its business stability. Customer concentration remains elevated, with the company’s top 10 customers accounting for 64.67% of revenue in FY26, up from 63.27% in FY25.The company also has significant product concentration. Vaddanam contributed 41.85% of FY26 revenue, while CNC machine-cut bangles accounted for another 30.87%, making overall revenue sensitive to demand for a limited range of products.Regional concentration is another key concern, with Southern India contributing 94.37% of the company’s revenue in FY26. Any slowdown or disruption in this region could therefore have a material impact on overall performance.Deepa Jewellers is also exposed to fluctuations in gold prices and availability, which could affect margins, inventory costs and procurement. Supplier concentration remains high, with the top 10 suppliers accounting for 91.81% of total purchases in FY26. The absence of long-term supplier contracts further increases procurement risk and leaves the company more exposed to changes in supplier terms and availability.Lumino Industries IPO Live Updates | Shares list at 34% premium over IPO priceShares of Lumino Industries made a strong debut on Thursday, listing at a 34% premium to the IPO price. The stock opened at Rs 110 on the NSE and Rs 109 on the BSE, compared with the issue price of Rs 82.Deepa Jewellers IPO Day 3 GMP Live Updates: Should You Subscribe to the Deepa Jewellers IPO?According to a report by SBI Securities, Deepa Jewellers Ltd. (DJL) is a Hyderabad-based B2B jewellery company focused on designing and wholesaling traditional and machine-crafted gold jewellery to regional retailers and leading jewellery chains. The company has recorded robust financial growth, with revenue, EBITDA and PAT posting CAGRs of 37.1%, 102.3% and 107.5%, respectively, between FY24 and FY26.To support its expansion plans, DJL is establishing an in-house manufacturing facility spanning 6,696 sq. ft. in Hyderabad. The facility is expected to support EBITDA margin improvement, shorten lead times and enhance gold recovery efficiency. The company also employs a structured hedging framework to manage fluctuations in gold prices and safeguard margins.At the upper price band of Rs 177 per share, the issue is valued at 16.2x FY26 P/E based on post-issue capital. SBI Securities has recommended a SUBSCRIBE rating for investors with a long-term investment horizon.Lumino Industries IPO Live Updates: GMP signals 45% premium over IPO priceThe Lumino Industries IPO is currently commanding a grey market premium (GMP) of Rs 37 per share, translating into a 45% premium over the IPO’s upper price band of Rs 82. At the prevailing GMP, the estimated listing price stands at around Rs 119 per share, suggesting the stock could make a strong debut if the grey market trend holds.Lumino Industries IPO Live Updates: Company valuationAt the IPO price band, Lumino Industries commands a price-to-earnings (P/E) multiple of 11.87 times at the lower end and 12.48 times at the upper end, based on diluted FY26 earnings. Interestingly, the valuation looks relatively attractive against the FY26 industry peer-group average P/E of 48.55 times, according to the company's offer document.Lumino Industries IPO Live Updates: About the companyEstablished in 2005, Lumino Industries is an integrated engineering, procurement and construction (EPC) and manufacturing company focused on India's power transmission and distribution sector. The company manufactures conductors, power cables, electrical wires and high-temperature low-sag (HTLS) conductors, which are used in power transmission and distribution infrastructure.Lumino Industries IPO Live Updates: How the company plans to utilise IPO proceedsA substantial portion of the fresh issue proceeds is earmarked for reducing the company's debt. Lumino Industries plans to use approximately Rs 337 crore for the prepayment or repayment of certain outstanding borrowings.The company also proposed spending around Rs 15.01 crore on capital expenditure, including equipment and machinery purchases, civil works, and interior development at an existing manufacturing facility. The remaining proceeds will be deployed towards general corporate purposes.Lumino Industries IPO Live Updates: Financial performanceThe company reported an improvement in both revenue and profitability in FY26. Total income rose 7% to Rs 2,089.31 crore in FY26, compared with Rs 1,946.68 crore in FY25. More significantly, Profit After Tax increased 28% to Rs 160 crore, from Rs 124.59 crore in FY25. The stronger growth in profit compared with total income points to an improvement in the company's earnings performance during the year.