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Kanohar Electricals, Arcil, Glass Wall Systems fix IPO price bands

Kanohar Electricals, Arcil and Glass Wall Systems announce IPO price bands as Lumino Industries lists at a 35% premium and Rays of Belief sees nearly 108x subscription

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2 min read Last Updated : Sep 03 2026 | 11:00 PM IST

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Electricals, and Asset Reconstruction Company (Arcil) announced the price bands for their upcoming initial public offerings (IPOs), which will open in the second week of September. Glass Wall Systems and Kanohar Electricals will open their IPOs on Tuesday, September 8 and close on Thursday, September 10.

Meanwhile, Arcil’s IPO will open on Wednesday, September 9 and close on Friday, September 11. Debt resolution company Arcil’s IPO is a ₹732.97 crore offer for sale, priced between ₹132 and ₹139 per share. Facade solutions provider Glass Wall Systems’ IPO is priced at ₹172-₹182 per share for its ₹427.89 crore issue, featuring a ₹60 crore fresh issue for a new glass processing unit and an offer for sale of 20.21 million shares. Transformer manufacturer Kanohar Electricals priced its IPO between ₹601 and ₹632 per share, offering a ₹300 crore fresh issue and an offer for sale of 11.96 million shares.

Lumino Industries debuts strong with 35% premium

Lumino Industries made a strong debut on the bourses on Thursday, trading at a 34.62 per cent premium to its issue price of ₹82. The stock closed at ₹110.39, with the company’s free-float market capitalisation upped to ₹663.69 crore. The company’s ₹700 crore initial public offering (IPO) was subscribed 124.02 times, led by qualified institutional buyers, and Motilal Oswal, JM Financial, and Monarch Networth Capital were the lead managers.

Rays of Belief public offer gets nearly 108x subscription on Day 3

The initial share sale of Rays of Belief, which operates under the Mom’s Belief brand, received nearly 108 times subscription on the final day of bidding on Thursday, led by strong demand from non-institutional and retail investors.The IPO received bids for 33,79,79,918 shares against 31,37,810 shares on offer, as per details available with the National Stock Exchange.