Lohia Corp Lists At 8% Premium On BSE, Gains Further In Early Trade
Lohia Corp Ltd., a manufacturer of machinery for the HDPE and PP woven fabric industry, made a strong stock market debut on July 30, listing at Rs 460 per share on the BSE, an 8.24 per cent premium over its issue price of Rs 425.
Following the listing, the stock gained further momentum and was trading at Rs 487.20, up 14.64 per cent from the issue price. During the session, the share touched a high of Rs 488 and a low of Rs 460, with around 6.82 lakh shares changing hands on the exchange.
The company’s initial public offering (IPO), which was open for subscription from July 23 to July 27, received a healthy response from investors and was subscribed 7.26 times. The issue was priced at Rs 425 per share, the upper end of the price band of Rs 404–425.
Lohia Corp is a leading manufacturer of machinery used in the production of HDPE and PP woven fabrics for applications such as plastic woven sacks, FIBCs and tarpaulins. The company also manufactures winders and rewinders for high-performance fibres and has expanded into extrusion lines for technical monofilaments used across textile, agricultural and sports applications.
