New Delhi, Jul 23 (PTI) The initial public offering of industrial machinery manufacturer Lohia Corp Ltd was subscribed 39 per cent on the first day of bidding on Thursday.
The company’s IPO received bids for 56,41,930 shares against 1,43,52,274 shares on offer, according to NSE data.
The retail portion was subscribed 66 per cent. The Qualified Institutional Buyers’ (QIBs) category was booked 43 per cent and the non-institutional investors’ segment was subscribed 15 per cent.
Lohia Corp Ltd on Wednesday raised Rs 492 crore from anchor investors.
The company’s Rs 1,102-crore IPO will conclude on July 27.
The price band for the IPO has been fixed at Rs 404-425 per equity share, valuing the company at around Rs 4,500 crore at the higher end.
The IPO is
entirely an offer-for-sale (OFS) of up to 2.59 crore equity shares by existing shareholders. Since the issue is an OFS, the company will not receive any proceeds from the public offering.
The company’s shares are proposed to be listed on the BSE and NSE on July 30.
Equirus Capital Ltd and Motilal Oswal Investment Advisors Ltd are the book-running lead managers to the offer. PTI SUM SHM
