Lohia Corp IPO
Lohia Corp IPO is a mainboard IPO raising ₹1,101 Cr at ₹404 – ₹425 a share. It listed on 30 Jul 2026 at ₹461, +8.5% against its issue price of ₹425, and trades at ₹547 today (+28.7% since issue). It was subscribed 7.25× in total.
7.3 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Lohia Corp Limited manufactures machinery and equipment for the technical textiles industry, focused on solutions for producing polypropylene (PP) and high-density polyethylene (HDPE) woven fabric and sacks (known as 'Raffia'). Its products include tape extrusion lines, circular looms, tape winders, coating/lamination lines, printing and conversion machines, multifilament yarn machines, monofilament extrusion lines, recycling machines, and spare parts. Customers are woven-fabric/sack producers serving packaging (cement, fertilizer, chemicals, food grain, minerals, FIBCs) and non-packaging (geotextile, tarpaulin, ropes, carpet backing) end-uses. Operations span India, USA, and Italy.
How it earns
Primarily by selling capital machinery and equipment, plus recurring revenue from spare parts, after-sales services and a small FIBC manufacturing line.
Who buys
Over 2,000 customers globally across around 100 countries in Fiscals 2026, 2025 and 2024; served through 4 domestic sales offices (Ahmedabad, Bengaluru, Kolkata, New Delhi), 5 international offices (Brazil, Russia, Thailand, UAE, USA), 17 exclusive sales agents in Latin America, Africa and East Asia, and service engineers in 12 Indian cities and 13 overseas countries. Specific top-customer concentration numbers are not given in this section (referenced on p230).
Scale
Six manufacturing facilities (four in India — two in Kanpur and two in Bengaluru; one in Burlington, North Carolina, USA; one in Como, Italy) plus a live experience/FIBC centre in Kanpur, with installed annual capacity of 240 tapelines, 13,800 circular looms and 108,000 tape winders as of March 31, 2026. Cumulative base of over 2,447 tape extrusion lines, 502,940 winders and 101,452 circular weaving looms sold. 2,010 permanent employees as of March 31, 2026. Revenue from operations Fiscal 2026: ₹1,716.99 crore (₹17,169.95 million); Fiscal 2025: ₹1,376.87 crore; Fiscal 2024 (Demerged Business): ₹1,165.81 crore. Order book ₹1,358.52 crore as of March 31, 2026. (Original figures in ₹ million; 1 crore = 10 million.)
What it says sets it apart
- Market leadership: 40.7% share of the Indian woven Raffia machinery market by value (Fiscal 2025) and 15.4% of the global woven Raffia machinery market by value (2024), ranking among the top global players alongside Starlinger & Co. GmbH.
- End-to-end 'concept to commissioning' solutions for the woven fabric ecosystem, spanning tape extrusion, circular weaving, lamination/coating, printing, conversion, multifilament, monofilament extrusion and recycling machinery, plus spare parts.
- Advanced backward-integrated manufacturing: in-house production of inverters, controllers, motors, PCBs (own SMT line), sheet-metal fabrication and 109 CNC machines with a 3D coordinate measuring machine, across six plants plus a live experience/FIBC unit.
- Technology and IP base: 71 patents granted in India and 56 outside India, 54 registered trademarks, 8 design registrations, plus a dedicated Hargovind Bajaj R&D Centre (~6,000 sq m) and a Digital Innovation Centre in Bengaluru; 251 R&D employees (12.49% of on-roll workforce).
- Global sales-and-service reach with after-sales hubs, IoT-enabled machines (Lohia IoT Gateway deployed on computerized tapelines and Blokomatic since 2022, retrofittable to machines from 2011) and an order book of ₹1,358.52 crore (₹13,585.17 million) as of March 31, 2026.
Revenue mix
The numbers at a glance
The price they’re asking →derived: cut-off price Rs425 / stated EPS Rs18.31 (FY26 (year ended March 31, 2026) diluted EPS from Restated Financial Information). Stated figures are as printed in the prospectus; margins, growth and the borrowing ratio are computed from its own summary table. A multiple is one lens, not a verdict.
The last few years in numbers
From the prospectus’s own summary financial table (Restated consolidated for FY26 and FY25; restated standalone for FY24 (Company was incorporated on 5 Jun 2023 and had no operations prior to the Scheme of Arrangement effective date 1 May 2024, so consolidated figures are unavailable for FY24)). Margins and growth are computed from the stated figures; everything else is as printed.
| Period | Revenue | Profit after tax | PAT margin | Net worth | Borrowings |
|---|---|---|---|---|---|
| FY2026 | ₹1,717 Cr+25% | ₹193 Cr+64% | 11.3% | ₹526 Cr | ₹153 Cr |
| FY2025 | ₹1,377 Cr | ₹118 Cr | 8.6% | ₹372 Cr | ₹212 Cr |
| FY2024 (Period 5 Jun 2023 to 31 Mar 2024) | ₹0 Cr | ₹-0 Cr | — | ₹0 Cr | ₹0 Cr |
Where the money goes
The offer →100% of this issue is existing shareholders cashing out — only the fresh issue reaches the business.
How its cohort has done
63 mainboard issues listed in 2026 that we can price today. This is the group this issue belongs to.
Neither figure is a forecast for this issue — they describe what happened to comparable issues. Full cohort analytics →
How the book finished
The category split is the number worth reading, not the total.
QIB: 9.11× their allocation. Retail: 2.77×.
What we hold for this issue
Stated up front on every issue, so a sparse page reads as a fact about the source rather than a broken one.
What could go wrong
All 13risks & documents →From the register read out of the issuer’s own prospectus — each item is quoted verbatim with its page on the risks tab.
Led by Motilal Oswal Investment Advisors Limited — median +20.7% across the 46 of its issues we can price. All lead managers →
What happens when
What to watch
- 100% of the issue is offer for sale — only ₹0 Cr of new money reaches the company.
- Priced at 23.2× earnings — 60% below the median of the peers the issuer itself names.
- The register's top risk: Extreme revenue concentration in woven raffia machines (88%+) (prospectus page 25).
Each line restates a disclosure from the prospectus or the exchanges — nothing here is a recommendation to apply to this issue.
Track LOHIA CORP LIMITED
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Figures are as published by the exchanges and the issuer’s prospectus. MarketPing publishes facts, comparisons and history only — nothing here is a recommendation to apply to this issue, and we do not publish grey market premium.