Lohia Corp sets Rs 404-425 band for Rs 1,102 crore offer for sale
Lohia Corp has fixed a price band of Rs 404 to Rs 425 for its up to Rs 1,102 crore offer for sale, which opens on July 23 and closes on July 27, per the RHP filed with SEBI.
The Development
Lohia Corp Limited, a Kanpur-based manufacturer of machinery for the woven raffia and technical-textiles industry, has moved into the subscription phase of its initial public offering. Per the red herring prospectus dated July 17, 2026, filed with the Registrar of Companies and available on SEBI's website, the offer is a pure offer for sale of up to 25,931,407 equity shares of face value Rs 1 each. The company has fixed a price band of Rs 404 to Rs 425 per share, which values the offer at up to about Rs 1,102 crore at the cap price.
The RHP sets the anchor investor bidding date as Wednesday, July 22, 2026, with the public issue opening on Thursday, July 23, 2026 and closing on Monday, July 27, 2026. The equity shares are proposed to be listed on both BSE and the National Stock Exchange, with NSE designated as the stock exchange for the offer. The development was surfaced through coverage on the Mint IPO desk. As this is an offer for sale, the company itself will not receive any proceeds.
The Company
Lohia Corp describes itself in the RHP as "a global manufacturer of machinery and equipment for technical textiles," focused on polypropylene and HDPE woven fabric and sacks. The company discloses that it makes tape extrusion lines, winders, circular looms, coating and lamination lines, printing and conversion machines, multifilament yarn machines, twister winders, monofilament extrusion lines and recycling machines. Its machines are used to package cement, fertilisers, chemicals, food grains and minerals, and to make shopping bags, leno bags, FIBCs and container liners.
Per the RHP, the company operates six manufacturing facilities, four in India and one each in the United States (Burlington, North Carolina) and Italy (Como), and it reports offices across Brazil, Russia, Thailand, the UAE and the USA. It cites an F&S report placing the global woven raffia machines market at US$1,008 million in 2024. On financials, the company discloses total income of Rs 17,378.70 million in Fiscal 2026, up from Rs 13,864.73 million in Fiscal 2025, with profit after tax of Rs 1,934.52 million and Rs 1,178.41 million respectively. EBITDA margin was 19.53% in Fiscal 2026 per the offer document, and the disclosed order book stood at Rs 13,585.17 million. The RHP notes the present company was carved out of a demerged undertaking with effect from April 1, 2024, so earlier periods rest on special-purpose carve-out statements.
The Offer Structure
The offer is entirely an offer for sale, with no fresh issue, so the stated objects of the offer are only to carry out the sale of 25,931,407 equity shares by the selling shareholders and to achieve the benefits of listing, per the RHP. The selling shareholders are promoter Raj Kumar Lohia (up to 16,728,500 shares), promoter Gaurav Lohia (up to 2,217,500), promoter Amit Kumar Lohia (up to 920,187), promoter group member Ritu Lohia (up to 1,671,250), and other shareholders Alok Kumar Lohia (up to 2,171,460), Anurag Lohia (up to 1,137,610) and Anuja Lohia (up to 1,084,900).
The price band is Rs 404 to Rs 425 per equity share of face value Rs 1. The lot size and minimum application amount are set out in the offer documents and the price-band advertisement filed with the exchanges. The book running lead managers are Equirus Capital Limited and Motilal Oswal Investment Advisors Limited, and the registrar is MUFG Intime India Private Limited (formerly Link Intime India Private Limited), per the RHP. Readers working through the arithmetic of an allotment may find Oquilia's lumpsum calculator and CAGR calculator useful, and prior coverage sits on the Oquilia news desk.
Risk Factors
The RHP lists ten internal risk factors. The first is concentration: the company discloses that it derived 88.16% of its revenue from operations in Fiscal 2026 from woven raffia machines, so any slowdown in end-use industries such as agro-textiles, geo-textiles and packing-textiles could adversely affect its business. Among the risk factors the company discloses are significant increases or fluctuations in raw-material prices, and the fact that it sources a significant portion of its raw materials, parts and components from overseas suppliers, exposing it to import restrictions and tariff changes.
The RHP also flags that the special-purpose combined and carve-out financial statements "may not be representative" of results as an independent company, given the recent demerger. Further disclosed risks include reliance on the continued operation of its manufacturing facilities, past instances of negative cash flows from operating activities, and exposure to foreign-currency fluctuations on both imported raw materials and exported products. The offer document adds that certain companies that became subsidiaries under the scheme had incurred losses in the three preceding fiscals.
What Happens Next
With the price band fixed and the anchor investor book slated for July 22, 2026 per the RHP, the standard mechanics follow: anchor allocation is disclosed via an exchange circular, the three-day subscription window runs from July 23 to July 27, and category-wise bid data for qualified institutional buyers, non-institutional bidders and retail bidders is published on the NSE and BSE through the offer period. Applications are made through the ASBA and UPI mandate route, with the UPI mandate cut-off at 5:00 p.m. on the closing date, per the RHP.
After the issue closes, the basis of allotment is finalised with the registrar, followed by refunds and the unblocking of application amounts, before the shares are credited and listed on BSE and NSE. The actual listing price against the offer price band will be an exchange fact on the debut date. None of these steps is a prediction of demand or price; they are the process the offer document and exchange notices set out.
FAQ
Should I apply for this IPO?
Oquilia does not make recommendations. This report is informational and is not investment advice or a recommendation to subscribe. The RHP, including the complete risk-factors section, is available on SEBI's website and the exchanges - read it directly before making any decision.
What is the price band?
The company has fixed a price band of Rs 404 to Rs 425 per equity share of face value Rs 1, per the offer record. The lot size and minimum application amount are specified in the offer documents and the price-band advertisement filed with the exchanges.
When does the issue open and close?
Per the RHP, the anchor investor bidding date is July 22, 2026, the issue opens on July 23, 2026 and closes on July 27, 2026. The UPI mandate confirmation cut-off is 5:00 p.m. on the closing date.
Is this a fresh issue or an offer for sale?
It is entirely an offer for sale of up to 25,931,407 equity shares by the promoters, a promoter group member and other shareholders. The company will not receive any proceeds; the money goes to the selling shareholders, per the RHP.
Where can I read the RHP?
The red herring prospectus dated July 17, 2026 is available on SEBI's website and on the NSE and BSE websites, and on the websites of the company and the book running lead managers, as stated in the abridged prospectus.
This report is based on the red herring prospectus filed with SEBI by Lohia Corp Limited. It was surfaced via coverage in Mint.