Investor in financial institution lobby with city skyline view.
Lohia Corp, a manufacturer of industrial machinery, saw its shares list on the National Stock Exchange (NSE) on Thursday, July 30, at ₹461 apiece. This opening price represents an 8.47% premium over its Initial Public Offering (IPO) issue price of ₹425 per share. The stock also debuted on the BSE at ₹460, marking an 8.24% rise.
The company’s IPO was structured solely as an offer for sale, comprising 2.59 crore shares valued at ₹1,101.28 crore, with no component of fresh issue. The offering was met with significant investor interest, achieving a subscription rate of 7.25 times. Qualified institutional buyers (QIBs) showed strong demand, subscribing 9.11 times, followed by non-institutional investors (NIIs) at 6.82 times, and retail individual investors at 2.77 times.
Each lot in the IPO consisted of 35 shares, with an initial cost of ₹14,875. Investors who were successfully allotted shares experienced an immediate gain of ₹1,260 per lot, bringing their total investment value to ₹16,135 upon listing.
It is important to note that Lohia Corp will not receive any proceeds from this issue, as the funds raised will be distributed to the selling shareholders. Prior to the public offering, Lohia Corp had already secured ₹492 crore from anchor investors.
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