Introduction
The Lohia Corp IPO is a ₹1,101.28 crore book-built mainboard IPO on the BSE and NSE, comprising a 100% Offer for Sale of 2.59 crore equity shares priced between ₹404 and ₹425 per share. The IPO opens on July 23, 2026, and closes on July 27, 2026, with a lot size of 35 shares and a minimum retail investment of ₹14,875 at the upper price band.
Lohia Corp Limited is a Kanpur-headquartered machinery manufacturer known for producing woven raffia machinery used in making PP and HDPE woven fabric, cement bags, fertilizer sacks, food-grain bags, FIBCs, tarpaulins, geotextiles and other technical textile products. The company holds a 15.4% global market share in woven raffia machinery and has built a strong position in a highly specialised industrial segment.
The company’s financial performance looks strong, with FY26 revenue of ₹1,737.87 crore, profit after tax of ₹193.45 crore, ROCE of 40.92% and debt-to-equity of just 0.23.
This guide explains the Lohia Corp IPO price, dates, GMP, business model, financials, valuation, strengths, risks and investor suitability to help readers decide whether this IPO fits their portfolio.
Lohia Corp IPO Key Details at a Glance
| Parameter | Details |
| IPO Open Date | July 23, 2026 (Thursday) |
| IPO Close Date | July 27, 2026 (Monday) |
| Anchor Investor Bidding | July 22, 2026 (Wednesday) |
| Allotment Date | July 28, 2026 (Tuesday) |
| Refund / Share Credit to Demat | July 29, 2026 (Wednesday) |
| Listing Date (Tentative) | July 30, 2026 (Thursday) — BSE & NSE |
| Issue Type | 100% Offer for Sale (OFS) — no fresh issue |
| Shares Offered | 2,59,31,407 equity shares | Face value ₹1 |
| Issue Size | ₹1,101.28 crore at upper band |
| Price Band | ₹404 – ₹425 per share |
| Lot Size | 35 shares per lot |
| Minimum Investment (Retail) | 1 lot (35 shares) = ₹14,875 at upper band |
| Maximum Investment (Retail) | 13 lots (455 shares) = ₹1,93,375 |
| Minimum Investment (S-HNI) | 14 lots (490 shares) = ₹2,08,250 |
| Minimum Investment (B-HNI) | 68 lots (2,380 shares) = ₹10,11,500 |
| QIB Portion | 75% of the issue (~1.92 crore shares, ~₹820 Cr) |
| NII/HNI Portion | 15% of the issue |
| Retail Portion | 10% of the issue (~25.73 lakh shares, ~₹109 Cr) |
| Employee Reservation | 2,00,000 shares | ₹40 per share discount |
| Promoters | Raj Kumar Lohia, Gaurav Lohia, Amit Kumar Lohia |
| Promoter Holding | 95% pre-IPO → 75% post-IPO |
| Book Running Lead Managers | Equirus Capital Pvt. Ltd. | Motilal Oswal Investment Advisors Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. (formerly Link Intime) |
| Employees | 2,010 permanent employees (March 31, 2026) |
| GMP (July 20–22, 2026) | ₹50–₹77 depending on source (12–18% premium; indicative listing ₹475–502) |
About Lohia Corp Limited
Lohia Corp Limited is a machinery manufacturer for the woven raffia industry. Raffia refers to woven fabric made from stretched PP and HDPE tapes. These materials are widely used in cement bags, fertilizer sacks, food-grain bags, jumbo bags, tarpaulins, geotextiles, agrotextiles and industrial packaging.
The company’s machinery helps customers convert plastic granules into woven fabric and finished packaging products. Its product ecosystem covers the full manufacturing chain, from tape extrusion to weaving, coating, printing, conversion and recycling.
This end-to-end offering is important because customers setting up a woven sack or technical textile plant can buy multiple machines from the same vendor. It also helps Lohia Corp build long-term customer relationships through spare parts, maintenance, service support and process know-how.
The Product Ecosystem: End-to-End Machinery
| Machine Category | What It Does | Annual Installed Capacity |
| Tape Extrusion Lines | Melt PP/HDPE granules and stretch them into flat tapes the raw ‘yarn’ of raffia | 240 lines |
| Circular Looms | Weave tapes into tubular woven fabric the core of every sack | 13,800 looms |
| Winders | Wind finished tape onto bobbins for weaving | 1,08,000 winders |
| Coating & Lamination Lines | Apply waterproof/barrier coating to woven fabric | Part of portfolio |
| Printing & Conversion Machines | Print branding and convert fabric into finished bags | Part of portfolio |
| Multifilament Yarn & Monofilament Extrusion | Produce synthetic yarns for ropes, nets and technical textiles | Part of portfolio |
| Recycling Machines | Reprocess PP/HDPE waste back into usable material | Part of portfolio |
This end-to-end coverage is the strategic point: a customer setting up a woven sack plant can buy the entire production line from one vendor. That single-vendor relationship creates high switching costs spare parts, service engineers, and process know-how all come from Lohia and generates recurring spare-parts revenue over each machine’s 15–20 year life.
Financial Performance
Lohia Corp has reported strong growth in FY26, supported by higher revenue, improved profitability and strong capital efficiency.
| Metric | FY2024* | FY2025 | FY2026 | Change (FY25→FY26) |
| Total Income | ₹1,173.60 Cr* | ₹1,386.47 Cr | ₹1,737.87 Cr | +25.3% |
| Profit After Tax | ₹29.76 Cr* | ₹117.84 Cr | ₹193.45 Cr | +64.2% |
| PAT Margin | 2.55%* | 8.50% | 11.13% | Improving |
| EBITDA Margin | — | — | 19.53% | — |
| ROE (KPI basis) | — | 31.7% | 36.80% | Improving |
| ROCE | — | — | 40.92% | — |
| Debt-to-Equity | — | — | 0.23 | Low leverage |
| RoNW (offer document) | — | 106% | 73% | See caveat below |
| Contingent Liabilities | — | — | ₹48.74 Cr (Mar 31, 2026) | Monitor |
*FY24 figures are from a special purpose combined and carve-out statement prepared for the demerger with different cost allocations, they are not like-for-like comparable with FY25/FY26 consolidated figures. On a standalone basis the new entity reported a marginal loss of ₹0.01 Cr in FY24.
Lohia Corp IPO GMP
The Lohia Corp IPO GMP was quoted in the range of ₹50 to ₹77 across different trackers during July 20–22, 2026. This suggested an indicative premium of around 12% to 18%, but GMP is unofficial and can change quickly.
Investors should not base their decision only on GMP. Grey market premium reflects short-term sentiment, not the intrinsic value of the company. For this IPO, the more important questions are whether Lohia Corp can sustain its FY26 profitability, maintain its global position and arrest domestic market share erosion.
Key Strengths
Strong Global Position
Lohia Corp holds a 15.4% global market share in woven raffia machinery. This gives the company strong recognition in a specialised industrial niche.
End-to-End Product Ecosystem
The company offers tape extrusion lines, circular looms, winders, coating lines, conversion machines and recycling equipment. This helps customers source a complete production line from one vendor.
Strong FY26 Financial Performance
Revenue grew to ₹1,737.87 crore, and PAT rose to ₹193.45 crore in FY26. Margins also improved meaningfully compared with FY25.
High Capital Efficiency
The company reported ROCE of 40.92% and ROE of 36.8%, indicating strong use of capital.
Low Debt
Debt-to-equity of 0.23 gives Lohia Corp a healthier balance sheet than many capital goods companies.
Promoter Skin in the Game
Promoters will continue to hold 75% after the IPO, which indicates significant ongoing ownership.
Key Risks
100% Offer for Sale
The entire IPO is an OFS. The company will not receive any fresh funds, and the proceeds will go to selling promoters.
Domestic Market Share Decline
Lohia Corp’s Indian market share declined from 65.5% in FY23 to 40.7% in FY25. This needs close monitoring.
Product Concentration
A large share of revenue comes from woven raffia machinery. Any slowdown in this segment can affect overall performance.
Cyclical Demand
The company’s machinery demand depends on customer capex in cement, fertilizer, agriculture, construction and packaging sectors.
Valuation Risk
At around 23.2x FY26 earnings, the IPO is not cheap. Investors are paying for quality and expected growth.
Limited Retail Quota
Only 10% of the issue is reserved for retail investors, which may reduce allotment chances if demand is high.
Accounting Complexity
FY24 financials are not fully comparable with FY25 and FY26 because of restructuring and carve-out accounting.
Conclusion
The Lohia Corp IPO offers investors exposure to a specialised global machinery manufacturer serving the woven raffia, packaging and technical textile industries. The company has strong FY26 financials, high capital efficiency, low debt and a meaningful global market position.
At the same time, investors should balance these positives against important risks. The issue is a 100% Offer for Sale, so no fresh capital goes to the company. Domestic market share has declined sharply over two years, and the valuation already prices in strong execution.
Overall, the IPO may suit investors with a long-term view who understand capital goods cycles and are willing to monitor domestic market share, export growth and margin sustainability after listing. Conservative investors or those seeking only short-term listing gains should avoid relying solely on GMP and review the offer document carefully before applying.
For investor education and account-opening support, visit Acumen Capital. You can also read Acumen’s guides on IPO application, demat account requirements and stock market basics.
FAQs
1. Is Lohia Corp IPO worth applying for?
Lohia Corp IPO may be worth considering for informed long-term investors because the company has strong FY26 financials, low debt, high ROCE and a global position in woven raffia machinery. However, the IPO is fully priced, and the company’s Indian market share has declined sharply, so investors should not apply only for listing gains or GMP.
2. What is the biggest risk in Lohia Corp IPO?
The biggest risk is the decline in Lohia Corp’s Indian market share by value from 65.5% in FY23 to 40.7% in FY25. This shows rising competition in the domestic market. If the decline continues, the company’s pricing power, margins and growth outlook may come under pressure.
3. Is Lohia Corp IPO a fresh issue or Offer for Sale?
Lohia Corp IPO is a 100% Offer for Sale.The proceeds will go to the selling promoters. This is important because investors are not funding business expansion; they are buying shares from existing shareholders.
4. Why is the retail quota only 10% in the Lohia Corp IPO?
The retail quota is only 10%, while QIBs get 75% and NIIs get 15%. This means retail allotment chances may be lower than in many mainboard IPOs, especially if the issue sees strong demand. Retail investors should apply at the cut-off price and treat allotment as uncertain.
5. Should investors rely on Lohia Corp IPO GMP?
No. GMP is unofficial, unregulated, and can change quickly before listing. Lohia Corp IPO GMP may indicate short-term market sentiment, but the investment decision should be based on business quality, valuation, financial performance, market share trend, OFS structure and personal risk appetite.
Disclaimer:
This blog is intended for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any securities. Investments in the securities market are subject to market risks. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
