Lohia Corp has fixed its IPO price band between ₹404 and ₹425 per share, aiming to raise ₹1,102 crore. The public issue opens for subscription on July 23 and closes on July 27. Since the entire offering is an Offer For Sale, the company will not receive any proceeds from the fundraise.
Lohia Corp, a manufacturer of industrial machinery, has finalized the details for its upcoming initial public offering. The company is set to launch its public issue on July 23, with the subscription period remaining open until July 27. Potential investors can bid for shares within the price band of ₹404 to ₹425 per share. Anchor investors, who typically include large institutional firms, are scheduled to participate in the bidding process on July 22.
The public issue consists entirely of an Offer For Sale, where existing shareholders will sell up to 2.59 crore equity shares. Because this structure directs the money raised to selling shareholders rather than the company’s own bank account, Lohia Corp will not use any of the ₹1,102 crore proceeds for its business operations or capital expansion. At the upper end of the price band, the company’s total market valuation is pegged at approximately ₹4,500 crore.
Investors looking to participate in the IPO must bid for a minimum of 35 shares, with further bids made in multiples of this lot size. The allocation process provides 75% of the shares to Qualified Institutional Buyers, while Non-Institutional Investors are allotted 15%. Retail investors are reserved a 10% portion of the issue. The company has engaged Equirus Capital and Motilal Oswal Investment Advisors to manage the issue, while MUFG Intime India is acting as the registrar.
Following the close of the subscription, the shares are expected to be listed on the BSE and NSE around July 30. As this is an Offer For Sale, investors should note that the listing will not result in any new cash inflow into the company to support its machinery manufacturing projects or debt reduction efforts. Prospective shareholders may want to track the company’s order book, demand trends in the industrial machinery sector, and future management commentary on business strategy once the company is publicly traded.