Lohia Corp IPO opens today: Should you apply? Check price band, fresh GMP, reviews & more

The initial public offering of Lohia Corp kicks-off for bidding on Thursday, July 23. The technical textile firm is offering its shares in the range of Rs 404-425 apeice. Investors can apply for a minimum of 35 equity shares and its multiples thereafter. The issue will close for bidding on Monday, July 27.

Kanpur-based Lohia Corp is looking to raise a total of Rs 1,101 crore from its maiden stake sale, which is entirely an offer-for-sale (OFS) of up to 2,59,31,407 equity shares from its promoters and existing shareholders. The company will not receive any proceeds from the issue.

Incorporated in 2023, Lohia Corp is a global manufacturer of machinery and equipment for technical textiles, especially for producing polypropylene (PP) and high-density polyethylene (HDPE) woven fabric and sacks (raffia). It has an installed capacity to produce 240 tape extrusion lines, 13,800 circular looms, and 108,000 winders annually, as of March 31, 2026

Ahead of IPO, Lohia Corp raised a total of Rs 492.11 crore from anchor investors as it allocated 1,15,79,133 shares for Rs 425 apiece, including names like Societe Generale, Aditya Birla Sun Life MF, Nomura Singapore, Nippon India MF, ICICI Prudential MF, Motilal Oswal MF, India Acord Fund, SBI Life Insurance, Tata MF, Ikigai Smallcap Fund, Alchemy Emergi, Enigma Opportunities Fund and more.

Lohia Corp clocked a net profit of Rs 193.45 crore with a revenue of Rs 1,737.87 crore for the financial year ended on March 31, 2026. The company reported a net profit of Rs 117.84 crore with a revenue of Rs 1,386.47 7 crore for the year 2024-25. The company currently commands a total market capitalization of more than Rs 4,490 crore.

The company has reserved 75 per cent of the offer for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) have a 15 per cent of allocation. Retail investors will get only 10 per cent of the shares in the IPO. Last heard, Lohia Corp was commanding a grey market premium of Rs 36-40 apeice, suggesting a 8-9 per cent listing gains for the investors.

Equirus Capital and Motilal Oswal Financial Services are the book running lead managers of Lohia Corp IPO and MUFG Intime India is the registrar of the issue. Shares of the company shall be listed on both BSE Ltd and NSE on Thursday, July 30. Here's what a host of brokerage firms say about the IPO of Lohia Corp:  

Anand Rathi Shares & Stock Brokers Rating: Subscribe for long-term Lohia Corp is seeking a P/E of 23.21 times and a post-issue market capitalization close to Rs 4,490 crore, making the issue appears to be fully priced. It maintains a healthy balance sheet with a D/E ratio of 0.12 times and a price-to-book value of 8.61 times. Its revenue remains heavily concentrated in the woven raffia machinery segment, exposing it to cyclical demand, said Anand Rathi.

"Lohia Corp is well positioned to capitalize on the long-term growth in the raffia machinery and technical textiles market, supported by its comprehensive product portfolio, strong manufacturing capabilities, global distribution network and continued investment in R&D. Despite these near-term risks, its strong market position and growth. We assign a 'subscribe' for long term rating," it added.

SBI Securities Rating: Subscribe for long-term Lohia Corp is a leading global manufacturer of technical textile machinery. It operates six manufacturing facilities globally, delivered strong growth, with revenue, EBITDA and PAT growth of 24.7 per cent, 45.5 per cent and 65.3 per cent in FY26. EBITDA margin expanded to 18.6 per cent, supported by robust return metrics with RoE and RoCE at 38.9 per cent and 42.6 per cent in FY26 respectively, said SBI Securities.

"Considering its strong position in the global woven raffia machinery market, strong technology and innovation capabilities, extensive installed machine base, well-established international presence and growth opportunities across adjacent machinery segments and aftermarket services, we recommend investors to 'subscribe' to the IPO for long-term investment," it added.

SMIFS Rating: Subscribe A diversified revenue mix, growing highmargin aftermarket business, healthy return ratios and profitability relative to peers, and strong cash generation provide confidence in the company's long-term earnings trajectory, said SMIFS. "Given its dominant market position, multiple structural growth drivers and robust financial profile, we recommend subscribing to it as a good long-term bet." 

Master Capital Services Rating: Subscribe for long-term Lohia Corp is well positioned to capitalise on the growing demand for technical textile and woven raffia machinery. It benefits from its leadership in the woven raffia machinery segment, integrated manufacturing capabilities, strong research and development, diversified product portfolio, global distribution network, and long-standing customer relationships, said Master Capital with a 'subscribe' with long-term tag.

Swastika Investmart Rating: Subscribe Lohia Corp delivers outstanding profitability with ROE of 36.8 per cent and ROCE of 40.9 per cent. It commands an over 80 per cent market share in India and 17.5 per cent globally in the raffia machinery segment, backed by strong R&D and a robust patent portfolio, said Swastika Investmart.

"Although valued at 23 times P/E versus Rajoo Engineers' 18 times, the premium is justified by its market leadership. As the IPO is entirely an OFS, no fresh capital will flow into the business," it added with an apply for long-term investment with moderate listing gain expectations recommendation.

KC Securities Rating: Subscribe Lohia Corp is a global leader in woven raffia machinery, exporting to more than 100 countries and serving a diversified customer base across packaging, agriculture, infrastructure, and geotextiles. The IPO is valued at 22.1 times FY26E P/E, which appears fairly valued, said KC Securities.

"Considering its global market leadership, strong export franchise, and favourable long-term industry outlook. With rising demand for woven raffia solutions, increasing international market penetration, and a robust competitive position, Lohia is well placed to strengthen its market share and deliver sustainable long-term growth," it said and suggested a long-term subscribe rating to it.

BP Equities Rating: Subscribe Lohia Corp is valued at an implied P/E multiple of 23.2 times based on its FY26 diluted EPS of Rs. 18.3. Considering its strong market share, deep in-house R&D capabilities, extensive global footprint, expanding operating margins, high return on equity, and clear revenue visibility, the valuation appears justified, said BP Equities, recommending a 'subscribe' for medium to long-term horizons.

Equivision Rating: Subscribe Lohia Corp plans to strengthen its position in the conversion and processing machinery segment of the raffia industry and expand its presence in the high-performance fibres and monofilament market. It derives most of its revenue from the woven raffia machinery segment, making its growth and profitability highly dependent on demand in this niche market, said Equivision.

"Leveraging its manufacturing capabilities, extensive distribution network, and the acquisition of Sundarlam Industries, it aims to capitalize on growing demand for advanced packaging solutions and high-performance technical textile applications across industries such as defence, aerospace, automotive, construction, and healthcare," it adds.