Lohia Corp's shares made a strong debut on the stock exchanges on July 30, listing well above the issue price and ahead of grey market expectations. The stock opened at Rs 461 on the NSE, up 8.47 per cent, and at Rs 460 on the BSE, up 8.24 per cent over the issue price of Rs 425.
Lohia Corp Share Price Makes Strong Debut, List 8% Above IPO Price
Lohia Corp share price: The stock listed above grey market expectations. Here's a closer look at the listing, investor gains, promoter exits, valuation and the company's financial performance
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The last available grey market premium (GMP) had suggested a listing price of around Rs 442.
The stock listed under the symbol LCL on the NSE and scrip code 544839 on the BSE. Based on the BSE listing price, Lohia Corp's opening market capitalisation stood at Rs 4,859.90 crore, about Rs 369.77 crore higher than its implied valuation of Rs 4,490.13 crore at the IPO price.
Since the IPO was entirely an Offer for Sale (OFS), there was no dilution in equity capital and the company did not receive any proceeds from the issue.
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