Lohia Corp Limited IPO Overview
The IPO is a Mainboard issue listed on both BSE and NSE, comprising entirely of an Offer for Sale of 2,59,31,407 equity shares at a price band of ₹404 to ₹425 per share, aggregating to approximately ₹1,101.28 crore. Since the IPO is a pure OFS, the company will not receive any proceeds. The IPO opens on 23 July 2026 and closes on 27 July 2026, with listing expected on 30 July 2026. The GMP as of 20 July 2026 stands at ₹50 per share, indicating an indicative listing price of around ₹475.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – Mainboard |
| Listing Exchange | BSE & NSE |
| Anchor Investor Date | 22 July 2026 |
| IPO Open Date | 23 July 2026 |
| IPO Close Date | 27 July 2026 |
| Allotment Date | 28 July 2026 (Expected) |
| Refund Initiation | 29 July 2026 |
| Credit to Demat | 29 July 2026 |
| Listing Date | 30 July 2026 (Tentative) |
| Price Band | ₹404 – ₹425 per share |
| Face Value | ₹1 per share |
| Lot Size | 35 shares |
| Minimum Investment (Retail) | ₹14,875 (1 lot = 35 shares) |
| Minimum Investment (sNII) | ₹2,08,250 (14 lots = 490 shares) |
| Minimum Investment (bNII) | ₹10,11,500 (68 lots = 2,380 shares) |
| Issue Size | ₹1,101.28 crore |
| Fresh Issue | Nil |
| Offer For Sale (OFS) | 2,59,31,407 shares (₹1,101.28 crore) |
Note: The entire IPO is a pure OFS — the company will not receive any proceeds. All funds will go directly to the selling shareholders (promoters).
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) incl. Anchor | ~75% (~1.92 crore shares, ~₹820 crore) |
| Non-Institutional Investors (NII/HNI) | ~15% (~38.59 lakh shares, ~₹164 crore) |
| Retail Individual Investors (RII) | ~10% (~25.73 lakh shares, ~₹109 crore) |
| Employee Reservation | Up to 2 lakh shares (~₹7.7 crore) |
Eligible employees will receive a discount of ₹40 per share on the issue price.
OFS / Selling Shareholders
The entire issue is an Offer for Sale by the promoter family. The promoters — Raj Kumar Lohia, Gaurav Lohia, and Amit Kumar Lohia — collectively held approximately 93% of the company prior to the IPO. Post-IPO, promoter holding will reduce to approximately 75%.
Since this is a pure OFS, the company will not receive any funds — all IPO proceeds go entirely to the selling promoter shareholders.
Objects of the Issue (Fund Utilization)
Since the IPO is entirely an OFS, the company will not receive any proceeds from the public issue. All funds raised will be paid to the promoter selling shareholders after deduction of offer-related expenses. There is no fresh capital being infused into the business through this IPO.
Lead Managers & Registrar
- Book Running Lead Managers: Equirus Capital Ltd. and Motilal Oswal Investment Advisors Ltd.
- Registrar to the Issue: MUFG Intime India Pvt. Ltd.
Promoters & Management
The company is promoted by:
- Mr. Raj Kumar Lohia — Founder and patriarch of the Lohia Group; brings decades of engineering and manufacturing experience
- Mr. Gaurav Lohia — Second-generation promoter
- Mr. Amit Kumar Lohia — Second-generation promoter
The Lohia Group has built one of India’s most recognised engineering businesses in the woven raffia machinery segment and has established a strong global reputation over several decades of operations.
Company Details
Lohia Corp Limited offers end-to-end machinery solutions for the woven fabrics and raffia industry, covering the entire value chain from conceptualisation and design to commissioning. Its product range includes tape extrusion lines, circular looms, coating and lamination lines, printing and conversion machines, multifilament yarn machines, twister winders, monofilament extrusion lines, and recycling machines.
Sectors Served:
- Agro-textiles
- Geo-textiles
- Building & Construction Textiles
- Packing Textiles (Cement, Fertilizer, Food Grain, Chemical Bags)
- FIBC (Flexible Intermediate Bulk Containers)
- Shopping Bags & Consumer Packaging
Key Products Manufactured:
- Tape Extrusion Lines
- Circular Looms
- Coating & Lamination Lines
- Printing & Conversion Machines
- Multifilament Yarn Machines
- Recycling Machines & Related Spare Parts
Key Capabilities:
- End-to-end solutions covering the entire woven fabric value chain from conceptualising to commissioning
- Multiple manufacturing facilities, experience centers, training centers, and R&D facilities in India and abroad with effective backward integration
- 26 patents granted and 58 patents at various stages of application
- Technology-driven operations with in-house R&D capabilities enabling continuous product improvement
Manufacturing Capacity (as of March 31, 2026):
- 240 Tape Extrusion Lines per annum
- 13,800 Circular Looms per annum
- 1,08,000 Winders per annum
Market Position:
- ~40.7% market share in India’s woven raffia machinery segment
Financial Snapshot
| Period | Revenue (₹ Cr) | PAT (₹ Cr) |
| FY25 | ₹1,375.96 | ₹117.84 |
| FY26 | ₹1,717.00 | ₹193.45 |
Key Financial Metrics
- Revenue grew ~24.7% YoY from FY25 to FY26; PAT grew ~64.2% YoY in the same period.
- ROE: ~36.80% | ROCE: ~40.92%
- Strong balance sheet with low leverage and declining borrowings
- No fresh capital requirement — company is self-sufficient at current scale
- Global raffia market expected to grow at 6.3% CAGR (from US$59 billion in 2021 to US$80 billion in 2026); technical textile market to grow at 8.25% CAGR
Company Strengths
- Dominant market position — ~40.7% share in India’s woven raffia machinery segment with a globally recognised brand built over 4+ decades
- End-to-end product portfolio covering the entire woven fabrics and raffia value chain from conceptualisation to commissioning
- Advanced manufacturing infrastructure with multiple facilities in India and abroad, including experience centers, training centers, and R&D labs with effective backward integration
- Strong IP portfolio — 26 patents granted and 58 more at various stages, enabling consistent technology-led differentiation
- Exceptional financial performance — revenue up ~25% and PAT up ~64% in FY26, with ROE of 36.80% and ROCE of 40.92%
- Healthy balance sheet with low leverage and no requirement for fresh capital infusion at current stage
- Strong global growth tailwinds — raffia and technical textile markets growing at 6.3%–8.25% CAGR, supported by infrastructure, agriculture, and sustainable packaging demand
Key Risks & Challenges
- Pure OFS — No funds to company: The company receives zero proceeds from this IPO — all funds go to the promoter family. No direct capital is being deployed for growth.
- High revenue concentration in woven raffia machines: Over 85–88% of revenue is derived from woven raffia machines in FY24–FY26 — any slowdown in end-use industries like agro-textiles, building, and packing can directly impact the business.
- Anti-plastic and regulatory risk: Growing global anti-plastic sentiment and jute-packaging mandates pose a structural, not just cyclical, risk to PP/HDPE sack demand in certain end-use categories.
- Promoter governance risk: Governance depends heavily on the promoter family, with related-party transactions and potential conflicts involving group entities in adjacent businesses flagged in the RHP.
- Large future supply overhang: Promoters retain ~75% post-IPO, meaning a large portion of shares remain locked with the promoter family — potential for future dilution or additional OFS.
- No listed pure-play peer: There is no comparable listed company in India focused exclusively on raffia machinery — making peer-based valuation and benchmarking difficult for investors.
- Manufacturing disruption risk: Business operations are dependent on multiple manufacturing facilities, and any disruption can significantly impact production capacity and profitability.
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
