Lohia Corp IPO: Issue receives modest response on Day 1, subscribed 0.40 times; GMP signals muted listing

The initial public offering (IPO) of Lohia Corp witnessed modest demand from retail and non-institutional investors on the first day of bidding on July 23.

The IPO, which will remain open for subscription until Monday, July 27, received bids for 56.8 lakh shares against the total offer size of 1.43 crore shares, translating into an overall subscription of 0.40 times by the end of Day 1, according to exchange data.

Among investor categories, the non-institutional investor (NII) portion was subscribed 0.15 times, while the retail investor segment was booked 0.68 times. The qualified institutional buyers (QIB) portion was subscribed 0.43 times, according to the exchange data.

Ahead of the issue, the company raised ₹492.1 crore from anchor investors. Meanwhile, the IPO is commanding a grey market premium (GMP) of ₹36 per share, indicating an estimated listing price of around ₹461, a premium of about 8.4% over the upper end of the price band.

The issue consists entirely of an offer for sale (OFS) of up to 2,59,31,407 equity shares by the promoters—Raj Kumar Lohia, Amit Kumar Lohia, Gaurav Lohia, and Ritu Lohia—along with other selling shareholders, namely Alok Kumar Lohia, Anurag Lohia, and Anuja Lohia.

The company has fixed a price band of ₹404-425 per equity share of face value Re 1 for its maiden public issue. Investors can bid for a minimum of 35 equity shares and in multiples of 35 shares thereafter.

The company's equity shares are proposed to be listed on both the National Stock Exchange (NSE) and the BSE, with the tentative listing scheduled for Thursday, July 30.

Equirus Capital Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers to the issue, while MUFG Intime India Private Limited is the registrar.

Incorporated in 2023, Lohia Corp is a global manufacturer of machinery and equipment for the technical textiles industry, particularly for producing polypropylene (PP) and high-density polyethylene (HDPE) woven fabric and sacks (raffia).

The company was originally incorporated as Kanpur Packaging Machines Limited in June 2023.

Following an NCLT-approved Scheme of Arrangement, the core undertaking of Lohia Trade Services Limited was demerged into the company. It was subsequently renamed Lohia Corp Limited in June 2024.

In terms of financial performance, the company reported revenue from operations of ₹1,716.99 crore in FY26, compared with ₹1,376.87 crore in FY25. Net profit rose to ₹193.45 crore in FY26 from ₹117.84 crore in the previous financial year.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new pla...