Lohia Corp IPO oversubscribed as investors bid 10.41 cr shares
Business
Lohia Corp's IPO just wrapped up and it was a hit: investors bid for 10.41 crore shares when only 1.43 crore were on offer, making it oversubscribed by more than seven times.
The price range was ₹404 to ₹425 per share, and big institutional investors led the way, snapping up their portion over nine times.
Lohia Corp raised ₹492.1 cr
Noninstitutional and retail investors also jumped in, subscribing nearly seven and almost three times their quotas, respectively.
Before the IPO opened, Lohia Corp raised ₹492.1 crore from anchor investors.
The company's shares are set to list on NSE and BSE on July 30, with gray market trends hinting at a small premium, about ₹12 above the top price band, which suggests solid demand all around.