Retail investors oversubscribe Lohia Corp. IPO, demand hits 0.59x
Business
Lohia Corp.'s IPO picked up steam on Friday, mainly thanks to retail investors who oversubscribed their portion, bidding for 27.89 lakh shares when only 25.73 lakh were reserved for them.
Overall, total demand jumped to 0.59 times the shares on offer, up from 0.39 times on Day one.
Qualified institutional buyers rise to 0.51x
Non-institutional and big-money investors also showed more interest, with their bids rising noticeably.
Qualified Institutional Buyers increased their participation from 0.43 times on Day 1 to 0.51 times on Day 2, helping push total bids to nearly 85 lakh out of a possible 1.43 crore shares.
The IPO is priced between ₹404 and ₹425 per share and closes this Monday, July 27, so there's still time if you're curious!