Lohia Corp locks in ₹492 crore from anchors for IPO
Technical textile machinery maker Lohia Corp has secured ₹492.1 crore from major institutional investors, signalling strong demand ahead of its fully offer-for-sale listing next week.
Lohia Corp Limited has allocated 11.58 million equity shares at the top of its price band to anchor investors, raising ₹492.1 crore. The placement, priced at ₹425 per share, comes one day before the technical textile machinery manufacturer opens its initial public offering to the public. As one of the world's leading manufacturers of machinery for technical textiles, the company's market debut is a notable test of industrial valuations in India.
The anchor book drew participation from a mix of foreign banks, domestic insurers, and equity mutual funds. Allocating the entire tranche at the upper end of the ₹404-425 price band suggests robust institutional confidence in the issue. For a deal structured entirely as an offer for sale, this early backing reduces execution risk for the selling shareholders and sets a constructive tone for the broader subscription period.
Foreign participants in the anchor allocation included Citigroup Global Markets Mauritius, Societe Generale, and Nomura Singapore. Domestic institutions such as SBI Life Insurance and Kotak Mahindra Life Insurance also took stakes. Mutual funds, including ICICI Prudential Smallcap Fund and Tata Business Cycle Fund, accounted for 7.32 million of the shares distributed across 13 separate schemes.
The public issue consists solely of an offer for sale of up to 25.93 million shares. Proceeds from the IPO will go entirely to the promoters—Raj Kumar, Amit Kumar, Gaurav, and Ritu Lohia—alongside other selling shareholders. Promoters sold shares worth nearly ₹294.9 crore within the anchor book alone to institutions like Kotak Mahindra Life and Motilal Oswal Value Migration Fund.
Retail investors can bid for a minimum of 35 shares once the subscription window opens on Thursday. Equirus Capital and Motilal Oswal Investment Advisors are managing the books, with MUFG Intime India serving as registrar. The equity shares, which carry a face value of Re 1, are set to list on both the National Stock Exchange and the BSE following the closing of the subscription period on July 27.
