Lohia Corp IPO Subscription Reaches 43%: Assessing Grey Market Trends Against Technical Textile Maker's Debut
The public bidding for Lohia Corp, a manufacturer of technical textile machinery, showed steady investor interest during its second day of trading. The maiden issue of the company, valued at Rs 1,101 crore, is subscribed by 43% so far on Friday. This performance comes despite grey market trends remaining muted in the unlisted stock.IPO Subscription Status and Investor Interest
Data from NSE indicates that more than 61 lakh shares received bids against an offer size of 1.43 crore shares as of 10:36 am. Retail Individual Investors (RII) led the subscription figures, booking a robust 80% of their allocated portion. Qualified Institutional Buyers (QIBs) have subscribed at 43% for the institutional segment. The allotment reserved for Non-Institutional Investors (NII) has been booked by 18%.Grey Market Dynamics and Listing Expectations
The unofficial grey market premium (GMP) for Lohia Corp's unlisted shares currently stands between 3-8.5% over the IPO price, according to tracking sites. This figure is down from the earlier GMP range of 9-13% that existed after the IPO price band was announced. Investors are reminded that the grey market represents an unofficial platform and actual listing premium may differ significantly.Understanding the Lohia Corp IPO Offering Details
Lohia Corp launched its public offering on Thursday, aiming to raise Rs 1,101 crore entirely through an Offer for Sale (OFS). This means proceeds from the sale will go directly to the existing selling shareholders, rather than to the company itself. The IPO is open for bidding until July 27th.The shares are offered at a price ranging from Rs 404-425 per share and have a lot size of 35 shares. At the upper price band (Rs 425), retail investors need to invest a minimum of Rs 14,875 for one lot. Book-running lead managers include Equirus Capital Ltd and Motilal Oswal Investment Advisors Ltd, with MUFG Intime India Pvt. Ltd. serving as the registrar.
Profile of Lohia Corp
Incorporated in 2023, Lohia Corp specializes in manufacturing machinery and equipment crucial for the technical textile industry. The company's focus areas include production lines for polypropylene (PP) and high-density polyethylene (HDPE) woven fabric and sacks.As of March 31, 2026, the operational capacity at the company stood at 240 tape extrusion lines, 13,800 circular looms, and 108,000 winders. Its extensive product portfolio features coating and lamination lines, printing and conversion machines, multifilament yarn machines, and recycling machinery.
Financial Performance Highlights in FY26
Lohia Corp reported a significant financial turnaround, noting a net profit of Rs 193 crore for the fiscal year ending March 31, 2026. This result reflects a 64% year-on-year (YoY) increase from the Rs 118 crore net profit reported in FY25.Revenue from operations also saw robust growth, rising around 25% YoY to Rs 1,717 crore in FY26. This figure compares favorably against the Rs 1,377 crore revenue recorded in FY25. Promoters participating in the OFS include Raj Kumar Lohia and Gaurav Lohia among others.
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