Lohia Corp to debut Thursday with IPO expected near ₹444
Business
Lohia Corp, a major player in textile machinery, is all set to make its stock market debut on Thursday.
The IPO could list near ₹444, about 5% higher than the issue price of ₹425, thanks to steady demand and a gray market premium of ₹19 per share.
Lohia Corp IPO oversubscribed nearly eightfold
The ₹1,101 crore IPO was open for subscription from July 23 to 27 and got oversubscribed nearly eight times.
Big institutional investors showed the most interest, but retail buyers joined in too.
Lohia Corp's strong financials, like a 64% jump in net profit this year, helped boost investor confidence ahead of its listing.