Lohia Corp shares list at over 8% premium on NSE; here's how much investors made per lot

Shares of industrial machinery manufacturer Lohia Corp listed at ₹461 apiece on the National Stock Exchange (NSE) on Thursday, July 30. This reflects a premium of 8.47% over the IPO issue price of ₹425 per share.

On the BSE, the stock debuted at ₹460 apiece, up 8.24% from the issue price.

Lohia Corp share price: Here's how much investors made per lot

The initial share sale was subscribed 7.25 times during the three day subscription window, with bids for 10,40,88,180 shares compared to 1,43,52,274 shares reserved, as per the NSE data.

The portion for qualified institutional buyers (QIBs) secured a 9.11 times subscription, while the category for non-institutional investors (NIIs) attracted a 6.82 times subscription. The quota for retail individual investors was booked 2.77 times.

The initial share sale was exclusively an offer for sale of 2.59 crore shares worth ₹1,101.28 crore, with no fresh issue component.

Under the OFS, promoters Gaurav Lohia, Ritu Lohia, Raj Kumar Lohia and Amit Kumar Lohia, and shareholders Anuja Lohia, Alok Kumar Lohia and Anurag Lohia offloaded their stake.

As there is no fresh issuance of shares, the company will not get any proceeds from the issue. The money raised will go to the selling shareholders.

"Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders. Listing will also provide a public market for the equity shares in India," according to the red herring prospectus (RHP).

Prior to the IPO, the company had mobilised ₹492 crore from anchor investors, including ICICI Prudential Mutual Fund (MF), Canara Robeco MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, Nippon India MF, Motilal Oswal MF, SBI Life Insurance, Tata AIA Life Insurance, Edelweiss Life Insurance, Ashoka India Equity Investment Trust Plc, Citigroup Global Markets Mauritius, Societe Generale and Nomura Singapore.

Lohia Corp is engaged in making machinery and equipment for technical textiles for producing polypropylene and high-density polyethylene woven fabrics and sacks.