Summary of this article
Lohia Corp shares listed over 8 per cent above the IPO price
The OFS generated over Rs 1,100 crore for selling shareholders
Retail investors earned Rs 1,260 per lot on listing day
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.
The last available grey market premium (GMP) had suggested a listing price of around Rs 442.
Since the initial public offering (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.
Lohia Corp IPO Details
Lohia Corp's IPO opened for subscription on July 23 and closed on July 27. The company had fixed a price band of Rs 404-425 per share, with the issue price finalised at the upper end of Rs 425. The lot size was 35 shares, requiring a minimum retail investment of Rs 14,875.
The basis of allotment was finalised on July 28, refunds and demat credits were completed on July 29.
The IPO was managed by Equirus Capital and Motilal Oswal Investment Advisors, while MUFG Intime India was the registrar to the issue.
Lohia Corp IPO: How Much Retail Investors And Employees Earned On Listing Day
Retail investors allotted one lot of 35 shares invested Rs 14,875 in the IPO. At the NSE listing price of Rs 461, the value of one lot rose to Rs 16,135, resulting in a listing gain of Rs 1,260. This translates into a return of 8.47 per cent on the investment.
The company had reserved 2 lakh shares for eligible employees and offered them a discount of Rs 40 per share. Their effective acquisition price stood at Rs 385. At the NSE listing price of Rs 461, employees earned a gain of Rs 76 per share. On one lot of 35 shares, this translated into a profit of Rs 2,660, representing a return of about 19.74 per cent.
Lohia Corp IPO: Here's How Much Selling Shareholders Pocketed
The Rs 1,101.28 crore IPO comprised only an OFS of 25.93 million equity shares. Since no fresh shares were issued, Lohia Corp did not receive any proceeds from the public issue. The entire issue proceeds were distributed among the selling shareholders. Following the IPO, promoter and promoter group shareholding declined to 75.24 per cent from 95.61 per cent, while public shareholding increased to 24.76 per cent.
Raj Kumar Lohia was the biggest selling shareholder in the IPO, selling up to 16.73 million shares. Based on his weighted average acquisition cost of Rs 0.91 per share, he is estimated to have made a profit of around Rs 709 crore from the sale. Amit Kumar Lohia, who sold 0.92 million shares, is estimated to have earned nearly Rs 39 crore, while Gaurav Lohia made around Rs 94 crore by selling 2.22 million shares.
Ritu Lohia sold 1.67 million shares, Alok Kumar Lohia 2.17 million shares, Anurag Lohia 1.14 million shares, and Anuja Lohia 1.08 million shares. Together, they are estimated to have earned more than Rs 257 crore from the share sale.
Lohia Corp Anchor Investors
Ahead of the IPO, Lohia Corp raised Rs 492.11 crore from 27 anchor investors by allotting 11.58 million shares at Rs 425 apiece.
Domestic mutual funds accounted for 63.20 per cent of the anchor allocation through 13 schemes across seven fund houses, while four life insurance companies received 14.64 per cent.
ICICI Prudential Smallcap Fund was the largest anchor investor, investing Rs 47.2 crore and accounting for 9.59 per cent of the anchor book. It was followed by Nippon India Small Cap Fund with an investment of Rs 41.30 crore, representing 8.39 per cent of the allocation, and Ashoka India Equity Investment Trust PLC, which invested Rs 40.50 crore, or 8.24 per cent. Kotak Manufacture in India Fund and Kotak Multicap Fund invested around Rs 34 crore each, with both accounting for 6.91 per cent of the anchor allocation.
Lohia Corp IPO Subscription Details
The IPO attracted strong investor demand and was subscribed 7.26 times overall. The qualified institutional buyer (QIB) portion was subscribed 9.11 times, while the non-institutional investor (NII) category was booked 6.82 times. The retail investor portion received 2.78 times subscription and the employee category was subscribed 1.39 times. Investors bid for over 104.14 million shares against 14.35 million shares available for subscription.
Lohia Corp Financial Performance
Lohia Corp’s revenue increased 25.3 per cent to Rs 1,737.87 crore from Rs 1,386.47 crore in FY25. Profit after tax rose 64.2 per cent to Rs 193.45 crore, while Ebitda grew 48.5 per cent to Rs 339.45 crore.
Total assets increased to Rs 1,304.66 crore from Rs 967.60 crore. Reserves and surplus stood at Rs 519.16 crore, while debt declined to Rs 152.78 crore from Rs 212.16 crore in the year-ago period. The company reported a return on net worth of 72.95 per cent and a net asset value of Rs 49.37 per share.
Lohia Corp Valuation
At the issue price of Rs 425, the IPO was valued at 23.21 times its FY26 earnings per share of Rs 18.31. Based on the NSE listing price of Rs 461, the stock listed at a price-to-earnings multiple of about 25.18 times.
About Lohia Corp
Incorporated in 2023, Lohia Corp manufactures machinery used in the technical textiles industry, particularly equipment for producing polypropylene (PP) and high-density polyethylene (HDPE) woven fabrics and sacks. Its products cater to packaging, agriculture, infrastructure and industrial applications, and the company exports to multiple international markets.
As of March 31, 2026, the company had manufacturing capacity of 240 tape extrusion lines, 13,800 circular looms and 108,000 winders annually. It also operated overseas offices in Brazil, Russia, Thailand, the UAE and the US.
