All IPOs 
Lohia Corp
Mainboard · BSE listed
+8.47%
Listing gain
Price Band
₹404 – ₹425
Issue Size
₹1,101 Cr
1 lot at upper band
₹14,875
Lot Size
35
Open
23 Jul 2026
Close
27 Jul 2026
Allotment
—
Listing
30 Jul 2026
Scheduled dates
- Open23 Jul 2026
- Close27 Jul 2026
- Refund29 Jul 2026
- Demat credit29 Jul 2026
- Listing30 Jul 2026
Listing Performance
Listing Price
₹461
Listing Gain
+8.47%
Day Close
—
Current (LTP)
— (—)
GMP Trend*
Daily grey market premium (₹). Unofficial.
Latest GMP: ₹17 7 sessions
Subscription (times)
Latest per-category subscription · as of 27 Jul, 06:56 pm IST.
QIB 9.11x
NII 6.82x
BHNI 7.35x
SHNI 5.77x
RII 2.78x
Employee 1.37x
Total 7.26x
About Lohia Corp
The company is among the leading global manufacturers of machinery and equipment for technical textiles in terms of revenue in 2024, with a strong focus on solutions for producing polypropylene and high-density polyethylene woven fabric and sacks. The company operates six machine manufacturing facilities, with four in India and one each in USA and Italy, along with one live experience centre in India. The company supplies machinery and equipment through an exclusive global sales network, having supplied products to around 100 countries in recent fiscals.
www.lohiagroup.com ↗Strengths
- Market leader in India and among the leading manufacturers globally of woven raffia machineryThe company is among the leading global manufacturers of machinery and equipment for technical textiles with a 15.4% share of the global woven Raffia machinery market by value in 2024 and a dominant market share of 40.7% by value in the domestic woven Raffia machines market in Fiscal 2025.
- Diverse product portfolio offering end-to-end solutions for the woven fabric ecosystemThe company provides comprehensive solutions for the entire ecosystem of woven fabric, offering services from 'concept to commissioning' throughout the complete production lifecycle required for the Raffia industry with a diverse suite of products including tape extrusion lines, circular loom, coating and lamination lines, printing machine, conversion machine, multifilament yarn machines, and recycling machines.
- Strong relationships with a diverse, global customer base through an extensive global sales and distribution networkThe company has supplied products to customers in around 100 countries in Fiscals 2026, 2025 and 2024, with four sales offices in India, five international offices located in Brazil, Russia, Thailand, UAE and USA, and 17 exclusive sales agents in major overseas markets.
- Advanced manufacturing infrastructure with comprehensive backward integration, supported by an in-house training centreThe company owns and operates four machine manufacturing facilities along with one live experience centre in India with a total area of approximately 159,884.08 square meters, plus manufacturing facilities in USA and Italy, supported by the TTRC training centre in Kanpur with over 7,300.00 square meters of constructed area.
- Technology-driven operations with strong focus on innovation-led research and developmentThe company has been granted 71 patents in India and 56 patents outside India, with 251 on-roll employees engaged in R&D activities representing 12.49% of total on-roll manpower, and operates the Hargovind Bajaj R&D Centre constructed over approximately 6,000 square meters.
- Skilled and experienced management team with committed employee baseThe company possesses a qualified senior management team with Chairman and Managing Director having over 43 years of experience, Whole-time Director with more than 20 years of experience, and 2,010 permanent employees as of March 31, 2026 with current average employee tenure of over 8.59 years.
Risk Factors
- Heavy Dependence on Woven Raffia Machines MarketThe company derived 88.16%, 87.28% and 85.68% of revenue from operations in Fiscals 2026, 2025 and 2024, respectively, from woven raffia machines. Any slowdown in end-use industries such as agro-textiles, building-textiles, geo-textiles and packing-textiles can adversely impact business operations and financial performance.
- Raw Material Price Volatility and Supply Chain DisruptionCost of materials consumed represents 53.23% and 47.81% of revenue in Fiscals 2026 and 2025 respectively. The company faces cost fluctuations due to commodity market volatility and supply chain disruptions, with most raw materials sourced on purchase order basis without long-term agreements, exposing the company to price and supply risks.
- Significant Import Dependency for Raw MaterialsThe company sources 16.06% and 14.84% of raw material costs from imports in Fiscals 2026 and 2025 respectively, primarily from Switzerland, USA, Singapore, China and Germany. Import restrictions, tariff changes, or currency fluctuations could significantly impact manufacturing operations and costs.
- Foreign Exchange Rate RiskThe company has substantial foreign currency exposure with 42.18% and 58.18% of revenue from overseas operations in Fiscals 2026 and 2025 respectively, and unhedged foreign currency exposure of ₹117.00 million and ₹492.00 million. Currency fluctuations can significantly impact financial performance and competitiveness.
- Manufacturing Facility Operational RisksThe company operates six manufacturing facilities across India, USA and Italy, with almost all revenue generated from these facilities. Any significant disruption, breakdown, natural disasters, or operational issues could cause production delays, increased costs, and inability to meet customer demand, severely impacting business operations.
- Market Competition and Environmental Regulatory ChallengesThe global woven raffia machines market faces challenges including environmental regulations, anti-plastic sentiment, high capital costs for advanced machinery, and competition from alternative materials. These factors may reduce demand for the company's products and affect market position.
- Working Capital and Cash Flow ManagementThe company experienced negative cash flows from operating activities in Fiscal 2024 and has net working capital of 84 days in Fiscal 2026. High working capital requirements and potential cash flow constraints could affect operational flexibility and growth capacity.
Objects of the Issue
- Offer for Sale by Selling ShareholdersThe company is conducting an Offer for Sale of Equity Shares by the Selling Shareholders. The company will not receive any proceeds from this Offer as all proceeds will be received by the Selling Shareholders.
- Achieve Benefits of Listing on Stock ExchangesThe company aims to achieve the benefits of listing the Equity Shares on the Stock Exchanges to enhance visibility and brand recognition. Listing will also provide liquidity to existing Shareholders and establish a public market for the Equity Shares in India.
Financial Snapshot
Annual values as reported in the offer document.
| Year end | Revenue | Rev. growth | Profit | Profit growth | Assets | Equity | Operating cash flow |
|---|---|---|---|---|---|---|---|
| 31/03/2026 | 1737.87 | +25.3% | 193.45 | +64.2% | 1304.65 | 525.73 | 325.16 |
| 31/03/2025 | 1386.47 | — | 117.84 | — | 967.60 | 371.59 | 141.28 |
Units: crores
Issue Details
- Face Value
- ₹1
- P/E
- 22.60
- ROCE
- 44.00%
- Shares / Lot
- 35
- Minimum Bid
- 35 shares
- Refund
- 29 Jul 2026
- Credit to Demat
- 29 Jul 2026
- ISIN
- INE0QJW01029
- CIN
- U28261UP2023PLC183476
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead Managers
- Equirus Capital Ltd.
- Registered Office
- D-3/A, Panki Industrial Estate, Udyog Nagar (Kanpur Nagar), Kanpur Nagar, Ratan Lal Nagar, Uttar Pradesh 208 022, India
Management
Raj Kumar LohiaMD
Gaurav LohiaCOO
Rajendra Kumar AryaDirector
Paritosh Kumar MukherjeeDirector
* Grey Market Premium is unofficial, indicative data from unregulated grey-market dealers. It is not published by NSE, BSE, SEBI or the issuer, and is not a forecast of the listing price.