Global Markets
Home›Global Markets›Emerging Markets›Lohia Corp IPO opens for subscription at ₹404-425 per…
Lohia Corp IPO opens for subscription at ₹404-425 per share
The IPO is an Offer for Sale, so the ₹492 crore raised from anchor investors signals demand, while no new funds go to the company as shares are sold by existing holders.
Lohia Corp’s initial public offering opened for subscription on Thursday, 23 July, and will run through Monday, 27 July, with a price band set at ₹404 to ₹425 per equity share and a lot size of 35 shares. The issue is scheduled for allotment on Tuesday, 28 July, with refunds and credit to demat accounts expected on Wednesday, 29 July, and listing on BSE and NSE on Thursday, 30 July.
LiveMint Markets said the company raised ₹492 crore from anchor investors ahead of the offer, with up to 75% of the net issue reserved for Qualified Institutional Buyers, at least 15% for Non-Institutional Investors, and at least 10% for retail investors. The article also described Lohia Corp as a manufacturer of machinery and equipment used to produce technical textiles, including machines for polypropylene and high-density polyethylene woven fabrics and sacks.
The IPO includes only an Offer for Sale of more than 2.59 crore equity shares, meaning all proceeds go to existing selling shareholders rather than the company, which will not receive funds from the public offering. LiveMint Markets also noted grey market activity with an indicated GMP of +36, implying a tentative listing price estimate of ₹461 per share at the upper end of the band, or 8.47% above ₹425.
The outlet added that over the past six grey market sessions, the GMP has ranged from 0.00 to 56, with the premium showing an upward trend on the day referenced in the coverage.