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Lohia Corp IPO sees 0.40 times subscription on day 1, GMP stays muted
Bids for 56.8 lakh shares were received against an offer of 1.43 crore shares by end of Day 1, with a grey market premium of ₹36 implying a tentative listing around ₹461.
LiveMint Markets said Lohia Corp’s initial public offering drew modest demand on the first day of bidding on July 23. By end of Day 1, bids for 56.8 lakh shares were received versus an offer size of 1.43 crore shares, translating to an overall subscription of 0.40 times.
According to exchange data cited by LiveMint Markets, the non-institutional investors segment was subscribed 0.15 times and the retail investor portion was booked 0.68 times. The qualified institutional buyers portion was subscribed 0.43 times.
The IPO has a price band of ₹404 to ₹425 per share, and LiveMint Markets reported it is being marketed through an offer for sale of up to 2,59,31,407 equity shares by promoters and other selling shareholders. Ahead of listing, the issue was quoted with a grey market premium of ₹36 per share, implying an estimated listing price near ₹461 and about 8.4% above the upper end of the band.
LiveMint Markets also noted the IPO raised ₹492.1 crore from anchor investors before pricing. The subscription is open until July 27, and the tentative listing is scheduled for Thursday, July 30 on both the NSE and BSE.