Lohia Corp’s ₹1,102-crore IPO opens today for public subscription at a price band of ₹404-425. Retail investors can bid for a minimum of 35 equity shares and in multiples thereafter. The Qualified Institutional Buyers (QIBs) have been allocated 75 per cent of the net offer, while 15 per cent has been reserved for the non-institutional investors (NIIs) and 10 per cent for retail investors.The IPO will close on July 27.The IPO is entirely an offer-for-sale (OFS) of up to 2.59 crore shares by existing shareholders. Since the issue is an OFS, the company will not receive any proceeds from the public offering. The selling shareholders included promoters – Raj Kumar Lohia, Amit Kumar Lohia, Gaurav Lohia and a member of the promoter group – Ritu Lohia; and other selling shareholders Alok Kumar Lohia, Anurag Lohia and Anuja Lohia.Industrial machinery manufacturer Lohia Corp Ltd on Wednesday raised Rs 492 crore from anchor investors as part of IPO process. The company has allotted 1,15,79,133 shares to anchor investors at Rs 425 apiece to host of investors including domestic mutual funds, insurance companies and foreign investors. Among them included ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, Nippon India MF, Motilal Oswal MF, Aditya Birla Sun Life MF, SBI Life Insurance, Tata AIA Life Insurance, Canara Robeco MF, Ashoka India Equity Investment Trust Plc, Edelweiss Life Insurance, and offshore investors such as Citigroup Global Markets Mauritius, Societe Generale and Nomura Singapore.Incorporated in 2023, 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 (PP) and high-density polyethylene (HDPE) woven fabric and sacks (Raffia) (RHP quoting: F&S Report).Its revenue from operations was ₹1,717 crore during FY26 as compared to ₹1,376.87 crore a year earlier. Its net profit was Rs 193.452 crore during FY26 as against Rs 117.841 crore a year earlier.Equirus Capital Limited (formerly known as Equirus Capital Private Limited) and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) is the registrar of the Offer.The company’s shares are proposed to be listed on the BSE and NSE on July 30.Brokers’ viewsAnand Rathi: On the valuation front, based on annualized FY26 earnings, the company is seeking a P/E of 23.21x and a post-issue market capitalisation of approximately Rs 44,901 million, making the issue appears to be fully priced. The company also maintains a healthy balance sheet with a D/E ratio of 0.12x and a Price-to-Book Value of 8.61x. Lohia Corp is well positioned to capitalise 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. However, the company’s revenue remains heavily concentrated in the woven raffia machinery segment, exposing it to cyclical demand, competitive intensity and fluctuations in customers’ capital expenditure. Despite these near-term risks, its strong market position and growth Therefore, we assign a Subscribe for Long Term rating for the issue.SBI Securities: Valuation: Lohia Corp Ltd. is a leading global manufacturer of technical textile machinery, holding a dominant 40.7% domestic market share in the woven raffia machinery segment. The company operates six manufacturing facilities globally and delivered strong growth, with Revenue/EBITDA/PAT growth of 24.7%/45.5%/65.3% in FY26. EBITDA margin expanded to 18.6%, supported by robust return metrics with RoE/RoCE at 38.9%/42.6% in FY26 respectively. The company maintains a lean balance sheet, with Debt/Equity standing at 0.3x in FY26. At the upper price band of Rs 425, the issue is valued at a P/E multiple of 22.1x based on FY26 earnings on post-issue capital, offering an attractive valuation relative to listed machinery peers. 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.Published on July 23, 2026