Lohia Corp files draft papers for initial public offering

Lohia Corp Ltd has filed draft papers for an initial public offering with the capital market regulator.

The IPO is an offer for sale of up to 31.70 million shares by shareholders and promoters.

The OFS consist of up to 5.13 million shares by Raj Kumar Lohia, 2 million shares by Gaurav Lohia, 4.25 million shares by Amit Kumar Lohia, 1.54 million shares by Ritu Lohia, 2.7 million shares by Ajay Lohia, 3.12 million shares by Shradha Lohia, 2.93 million shares by Jitendra Kumar Lohia, 2.62 million by Alok Kumar Lohia, 3.74 million shares by Anurag Lohia, 2.96 million shares by Anuja Lohia and 4.10 lakh shares by Neela Lohia.

ICICI Securities, HSBC Securities and Capital Markets India, IIFL Securities and Motilal Oswal Investment Advisors are lead managers to the issue.

Lohia Corp is one of the leading manufacturers globally of machinery and equipment used in the production of technical textile, particularly for making polypropylene and high density polyethylene woven fabric and sacks (raffia).

It owns and operates four machine manufacturing facilities with three in India and one in the US. Its two manufacturing units are located in Kanpur and one in Bengaluru with a total area of about 180,000 square metres, and a total built up area of over 112,000 square metres. The US facility is located in Burlington.

For fiscal year 2022, revenue from operations stood at Rs 2,237.48 crore against Rs 1333.79 crore last year. Net profit for the period was Rs 159.38 crore versus Rs 120.78 crore a year ago. Net debt for the period was Rs 113.46 crore.