Lohia Corp IPO Today: Issue 59% Subscribed as Grey Market Premium Remains Muted

Lohia Corp IPO subscription reached 0.59 times by the close of Day 2, July 24, 2026. The ₹1,101.28 crore issue saw bidding continue through the final day, July 27. Grey Market Premium stood at just ₹7 today, signaling a modest 1.65% listing gain estimate. Retail investors led demand throughout the bidding period for this mainboard offering.

Lohia Corp IPO Subscription Trends Through The Week

Lohia Corp IPO opened for bidding on July 23, 2026, with a price band of ₹404 to ₹425 per share. Day 1 subscription closed at 0.39 times overall. Retail investors led with demand at 0.67 times that day.

• Cumulative subscription climbed to 0.59 times by the close of Day 2.
• Retail portion crossed full subscription, closing Day 2 at 1.08 times.
• NII demand rose sharply too, reaching 0.42 times by Day 2 close.

QIB bidding also gathered pace, closing Day 2 near 0.51 times. Institutional demand typically strengthens further on the final bidding day, as it did through Day 3 here.

Lohia Corp Limited ( Mainboard IPO ) Analysis ( Source : RHP ) –

IPO Details –

IPO Date: 23 – 27 July 26
Price Band: ₹404- 425
Lot Size: 35 shares
Face Value: ₹1
IPO Size: ₹1101 Crore ( FULL OFS )

Company Overview –

Among the leading global manufacturers of #machinery… pic.twitter.com/AQjfSGOWLn

— Ashish Garg (@Ashishkafunda) July 26, 2026

Category-Wise Bidding Breakdown

Lohia Corp IPO reserved 75% of its net offer for Qualified Institutional Buyers. Non-institutional investors received a 15% allocation, while retail investors got the remaining 10%. An additional 2,00,000 shares were set aside for eligible employees.

• Retail investors were the first category to cross full subscription, at 1.08 times.
• NII demand more than doubled from Day 1’s 0.15 times to 0.42 times by Day 2.
• QIB participation reached 0.51 times by Day 2, up from 0.43 times on Day 1.

Institutional bidding often accelerates only in the closing hours of an IPO. QIB demand continued building into the final session as the issue moved toward close.

Grey Market Premium Signals Muted Listing Expectations

Lohia Corp IPO’s Grey Market Premium has swung sharply since bidding began on July 23. Tracker data shows GMP starting near ₹0 on July 18, then jumping into the ₹50-₹75 range around July 19-20. It has since cooled significantly, settling around ₹6 to ₹7 today.

• Current GMP of ₹7 implies a listing price near ₹432.
• This reflects roughly a 1.65% premium over the ₹425 upper price band.
• GMP is an unofficial indicator and doesn’t guarantee actual listing performance.

The sharp GMP decline from its earlier peak suggests fading grey market enthusiasm. Steady subscription growth through Day 2 and Day 3 hasn’t yet translated into stronger grey market pricing.

Company Fundamentals Behind The Issue

Lohia Corp, originally incorporated in 1981 and later restructured, manufactures machinery for the technical textiles industry. The company specializes in polypropylene and HDPE woven fabric and sack production equipment. It held a 15.4% share of the global woven Raffia machinery market in 2024.

• The IPO is entirely an Offer for Sale of 2,59,31,407 equity shares.
• No fresh proceeds will go to the company since it’s a pure OFS.
• Anchor investors committed ₹492.11 crore ahead of the public issue opening.

Financial metrics show a P/E ratio of 23.21 and EPS of ₹18.31. Return on net worth stands strong at 72.95%, reflecting efficient capital utilization for the business.

What Happens Next For Lohia Corp IPO

Lohia Corp IPO allotment is expected to be finalized on July 28, 2026. Successful bidders can check allotment status through registrar MUFG Intime India’s official portal. Shares are scheduled to list on both BSE and NSE on July 30, 2026.

• Promoter holding will drop from 95.61% to 75.24% after the listing.
• Equirus Capital and Motilal Oswal Investment Advisors managed the book-building process.
• Market capitalization is estimated at ₹4,490.13 crore based on the issue price.

Refunds and demat credit are expected around July 29, 2026, ahead of the listing. Investors should confirm the exact final subscription figure once exchanges publish official closing bulletins.

Final Thoughts

Lohia Corp IPO’s climb to 0.59 times subscription by Day 2, followed by further gains on the final day, shows improving but not overwhelming demand. Strong retail and NII interest helped offset a slower QIB start earlier in the week. 

Analysts point to the company’s solid RoNW and niche market position as long-term positives. Investors should still weigh the modest 1.65% grey market premium carefully before expecting significant listing-day gains.

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.