Lohia Corp IPO Day 2 Live: GMP signals 9% listing pop. Should you apply?

Lohia Corp's ₹1,101 crore Offer for Sale IPO is in its second day of bidding, with a price band of ₹404 to ₹425 per share and a lot size of 35 shares. The grey market premium stands at ₹40, signalling an approximate 9% listing pop, though day 1 subscription was muted at 0.39 times overall (retail 0.66x, NII 0.15x, QIB 0.43x). Analysts from KC Securities and Swastika Investmart have recommended applying, citing the company's 80%+ Indian market share and 17.5% global share in raffia machinery, ROE of 36.8% and ROCE of 40.9%, with a valuation of 22.1x FY26E P/E. Listing is expected on 30 July 2026, with allotment on 28 July.