Lohia Corp, the machinery and equipment manufacturer for technical textiles, has refiled its preliminary papers with the SEBI to raise funds via initial public offering (IPO). The issue will comprise entirely offer-for-sale (OFS) of 4.22 crore equity shares by promoters with no fresh issue component.
Earlier, the Kanpur-based company had filed IPO papers for 3.16 crore shares OFS in October 2022, which were approved by the capital markets regulator in February 2023 but the company did not launch the public issue.
As it is an entire OFS, all the IPO proceeds will go to Lohia family, and the company will not receive any money.
Lohia Corp claims to be among the leading global manufacturers of machinery and equipment for technical textiles in terms of revenue in 2024, with a focus on solutions for producing polypropylene and high-density polyethylene (HDPE) woven fabric and sacks (Raffia). In fact, it is the market leader in the domestic woven Raffia machines market, with a market share of 40.7 percent by value in FY25.
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The woven fabric machines are used for packaging applications across several industries, such as cement, fertilizer, chemicals, polymers, food grains, and minerals. They are also used in the production of shopping bags, leno bags, flexible intermediate bulk containers, and container liners.
Lohia Corp that competes with Rajoo Engineers, LMW, Mamata Machinery, Jyoti CNC Automation, and Windsor Machines has recorded profit of Rs 117.8 crore on revenue of Rs 1,376.8 crore in the financial year ended March 2025.
The merchant bankers handling the Lohia Corp IPO will be Equirus Capital, and Motilal Oswal Investment Advisors.
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