🔴 OPENING WEDNESDAY: Lohia Corp IPO opens July 23, 2026 and closes July 27, 2026. Price band ₹404–₹425. GMP ₹90 (~21%). Issue size ₹1,101 crore. Listing July 30 on NSE & BSE.
Here is a company most Indian retail investors have probably never heard of — but that dominates a niche so specialised that it has virtually no domestic competition. Lohia Corp Limited manufactures the machinery that makes the woven plastic bags, HDPE sacks, and technical textile fabrics you see everywhere — from cement bags and fertiliser sacks to geotextiles and industrial packaging.
And it does not just lead India. It is the market leader in India and among the leading manufacturers globally in woven raffia machinery — an extraordinary position for an Indian industrial company.
Revenue up 25%, PAT up 64% in FY26. 127+ global patents. 2,010 employees. And a GMP of ₹90 suggesting a 21% listing premium. Let us dig into everything before you decide.
Disclaimer: This article is for informational purposes only and not investment advice. GMP figures are unofficial and unregulated by SEBI. IPO investments carry market risk. Please consult a SEBI-registered financial advisor before applying.
Lohia Corp IPO — Quick Facts at a Glance
| Detail | Information |
|---|---|
| Company | Lohia Corp Limited |
| Incorporated | 2023 (as current entity; Lohia group has decades of history) |
| Business | Woven raffia machinery, technical textile machinery, PP/HDPE fabric solutions |
| DRHP Filed | August 12, 2025 |
| IPO Open Date | July 23, 2026 (Wednesday) |
| IPO Close Date | July 27, 2026 (Sunday) |
| Price Band | ₹404 – ₹425 per share |
| Face Value | ₹1 per share |
| Issue Size | ₹1,101.28 – ₹1,102.08 crore |
| Issue Type | 100% Offer for Sale (OFS) |
| Shares in OFS | 2,59,31,407 equity shares |
| Lot Size | 35 shares |
| Min Investment (Retail) | ₹14,875 (35 shares at ₹425) |
| sNII Minimum | 14 lots (490 shares) = ₹2,08,250 |
| bNII Minimum | 68 lots (2,380 shares) = ₹10,11,500 |
| GMP (July 20–21, 2026) | ₹90 (~21.2% premium) — unofficial |
| Est. Listing Price (GMP) | ~₹515 per share — unofficial |
| GMP Range (recorded) | ₹19 to ₹90 (rising trend) |
| Allotment Date | July 28, 2026 |
| Demat Credit / Refund | July 29, 2026 |
| Listing Date | July 30, 2026 (NSE & BSE) |
| Quota Split | QIB 75% / HNI 15% / Retail 10% |
| Pre-IPO Placement | ₹27.44 crore (800,000 shares at ₹343 in May 2026) |
| Lead Managers | Equirus Capital Pvt. Ltd., Motilal Oswal Investment Advisors |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Employees | 2,010 permanent (as of March 31, 2026) |
| Patents | 127+ global patents |
What Does Lohia Corp Do? The Business Explained Simply
Imagine you buy a bag of cement, a sack of fertiliser, a packet of rice, or a roll of geotextile fabric used in road construction. That product was made from woven polypropylene (PP) or HDPE fabric. And the machine that wove that fabric was very likely made by a company in the Lohia group.
Lohia Corp is a machinery manufacturer — it does not make the bags or fabrics itself. It makes the sophisticated industrial machines that PP and HDPE woven fabric manufacturers use to produce those bags, sacks, and technical textile products.
This is an extremely specialised, capital-intensive niche. There are very few manufacturers globally who can design, build, and service these complete production lines — which is exactly why Lohia holds such a dominant position.
Core product categories:
1. Woven Raffia Machinery Circular looms, tape extrusion lines, winding machines, and complete turnkey production lines for PP/HDPE woven fabric and sacks. This is Lohia’s flagship business.
2. Technical Textile Machinery Machinery for geotextiles, shade nets, tarpaulins, and other industrial technical textile applications.
3. Multifilament/Yarn Machinery Machinery for producing synthetic yarn and multifilament used in textiles and industrial applications.
4. After-Sales Services & Spares Long-term service contracts, spare parts, and upgrade solutions — a recurring revenue stream that grows as the installed base of machines expands globally.
Key market position:
- Market leader in India in woven raffia machinery
- Among the top manufacturers globally in this niche
- 127+ patents protecting its technology globally
- Customers span packaging, agriculture, construction, geotextiles, and industrial sectors worldwide
IPO Structure: 100% OFS — Important to Understand
This IPO is 100% Offer for Sale. This means:
- Lohia Corp itself receives zero proceeds from the IPO
- All ₹1,101 crore raised goes to the selling shareholders (promoters and existing investors)
- The company’s business does not get any fresh capital from this listing
This is the same structure as the NSE IPO. While it does not directly fund company growth, it is not necessarily negative — it simply means promoters are monetising their stake. The company’s operations and growth prospects are independent of the IPO proceeds.
Lohia Corp Financials — Exceptional Growth in FY26
| Metric | FY25 | FY26 | Change |
|---|---|---|---|
| Revenue | ₹1,390.30 crore | ₹1,737.87 crore | +25% YoY |
| Profit After Tax (PAT) | ₹118.02 crore | ₹193.45 crore | +64% YoY |
| PAT Margin | ~8.5% | ~11.1% | +260 bps |
What makes these numbers extraordinary:
Revenue growing 25% in a single year for an industrial machinery manufacturer is impressive — machinery is a cyclical, slow-growth business globally. But PAT growing 64% — nearly 2.5x the revenue growth rate — is exceptional. This means Lohia’s margins are expanding sharply, suggesting strong pricing power, operating leverage, or a more profitable product mix in FY26.
A PAT margin improvement from 8.5% to 11.1% in a single year shows a company that is not just growing top line but becoming significantly more profitable as it scales.
GMP Today: ₹90 (~21.2%) — Rising Trend
GMP has been on a strong rising trajectory:
| Date | GMP |
|---|---|
| July 18 | ₹0 (tracking started) |
| July 19 | ₹19 |
| July 20 | ₹50–₹90 (range) |
| July 21 | ₹90 (latest) |
The GMP rising from ₹19 to ₹90 in just 3 days signals rapidly building investor enthusiasm ahead of opening.
Note: One source (IPOGyani) is showing an unusually high GMP of ₹282.5 — this appears to be an outlier or data error. The consensus GMP from multiple sources is ₹50–₹90.
GMP disclaimer: GMP is unofficial, unregulated, and not governed by SEBI. Always verify subscription data and QIB response before making investment decisions. GMP can change significantly between now and listing day.
Key Strengths: The Bull Case
1. India and global market leader in a specialised niche Lohia is not just the biggest — it is one of very few companies globally that can deliver complete turnkey woven raffia production lines. This creates massive competitive barriers.
2. 127+ global patents Patents protect technology for years. Lohia’s 127+ global patents mean competitors cannot simply copy its machines — creating durable pricing power and moats.
3. PAT up 64% in FY26 — exceptional margin expansion A PAT margin jump from 8.5% to 11.1% in a single year shows a company with strong pricing power and operating leverage as it scales.
4. Massive global opportunity Woven PP/HDPE packaging is replacing jute and other traditional materials across agriculture, construction, and industrial sectors globally. Asia, Africa, and Latin America represent enormous growth markets for Lohia’s machines.
5. After-sales recurring revenue Every machine Lohia sells creates a long-term relationship — spare parts, servicing, and upgrade contracts generate recurring revenue that grows with the installed base.
6. ₹1,101 crore issue — Motilal Oswal as lead manager Motilal Oswal is one of India’s most respected investment banks. Their involvement signals strong institutional confidence in the offering.
7. GMP rising sharply — ₹19 to ₹90 in 3 days The sharp, consistent GMP rise suggests genuine pre-IPO investor excitement, not stale or manipulated GMP.
Key Risks: The Bear Case
1. 100% OFS — zero proceeds to company This is the single biggest concern. Lohia Corp gets nothing from ₹1,101 crore raised. All money goes to selling shareholders. If the company needs capital for expansion, it will have to raise it separately post-listing.
2. Cyclical business Industrial machinery is highly cyclical. When packaging, construction, or textile industries slow down, capital equipment orders dry up. Lohia’s 64% PAT growth may not repeat every year.
3. Retail quota is only 10% Unlike most IPOs where retail gets 35%, Lohia Corp’s retail quota is only 10% (QIB 75%, HNI 15%, Retail 10%). This means a much smaller pool of shares available for retail investors — allotment odds will be low even if you apply.
4. Incorporated in 2023 The current Lohia Corp entity was only incorporated in 2023, even though the Lohia business group has a much longer history. This means the listed entity has a short formal track record as a standalone company.
5. Global competition risk While Lohia leads today, Chinese manufacturers have been aggressively entering specialised industrial machinery segments globally. Chinese competition at lower price points could pressure Lohia’s order book and margins in emerging markets.
6. Valuation depends on final pricing At ₹425 upper band with FY26 PAT of ₹193.45 crore, the implied P/E is approximately 22–24x — reasonable for a market-leading manufacturer, but investors should compare with listed peers before applying.
How to Apply for Lohia Corp IPO
Opens July 23, closes July 27, 2026:
Through broker apps:
- Zerodha Console → Portfolio → IPOs → Lohia Corp → Bid
- Groww, Upstox, Angel One, 5Paisa — all will support this IPO
Through bank net banking (ASBA):
- SBI, HDFC, ICICI, Axis, Kotak — log in → Investments → IPO → Apply
Payment:
- UPI (retail up to ₹5 lakh) — approve mandate in Google Pay/PhonePe/BHIM after submitting
- ASBA — amount blocked in bank account until allotment
Allotment status (July 28):
- MUFG Intime India: https://linkintime.co.in/initial_offer/public-issues.html
- BSE: https://www.bseindia.com/investors/appli_check.aspx
- NSE: https://eipo.nseindia.com/allotment/app/
Official Documents
- SEBI Public Issues Portal (RHP available here) https://www.sebi.gov.in/filings/public-issues.html
- BSE Filings — Lohia Corp https://www.bseindia.com
- NSE Filings https://www.nseindia.com/companies-listing/corporate-filings-announcements
- MUFG Intime India — Allotment Status https://linkintime.co.in/initial_offer/public-issues.html
Lohia Corp vs Other July 2026 IPOs
| Feature | Lohia Corp | Xtranet Tech | Caliber Mining |
|---|---|---|---|
| Open | Jul 23–27 | Jul 23–27 | Jul 17–21 |
| Issue size | ₹1,101 crore | ₹170 crore | ₹450 crore |
| Price band | ₹404–₹425 | ₹120–₹127 | ₹402–₹424 |
| Min investment | ₹14,875 | ₹13,970 | ₹14,840 |
| Issue type | 100% OFS | 100% Fresh | 89% Fresh |
| GMP | ₹90 (~21%) | ₹25 (~19.7%) | ₹105 (~24.8%) |
| Retail quota | Only 10% | 35% | 35% |
| Listing | Jul 30 | Jul 30 | Jul 24 |
| FY26 revenue growth | +25% | +32% | +17.2% |
| FY26 PAT growth | +64% | +36% | +20% |
| Sector | Industrial machinery | IT services | Coal mining |
Key difference: Lohia Corp has the highest PAT growth (+64%) and the largest issue size (₹1,101 crore) among July IPOs — but the smallest retail quota (only 10%) means allotment odds are low.
Frequently Asked Questions (FAQ)
Q1. When does Lohia Corp IPO open? The Lohia Corp IPO opens on July 23, 2026 and closes on July 27, 2026.
Q2. What is the Lohia Corp IPO price band? The officially set price band is ₹404 to ₹425 per share with a face value of ₹1.
Q3. What is the Lohia Corp IPO GMP today? As of July 20–21, 2026, the GMP is approximately ₹90 per share (~21.2%), implying an estimated listing price of around ₹515. GMP has risen sharply from ₹19 on July 19 to ₹90 on July 20. This is unofficial and changes daily.
Q4. When is Lohia Corp IPO allotment? Allotment is expected on July 28, 2026. Check status at MUFG Intime India’s website using your PAN number.
Q5. When does Lohia Corp list on NSE and BSE? Shares are expected to list on both NSE and BSE on July 30, 2026. Shares will be credited to your Demat account on July 29.
Q6. What is the minimum investment in Lohia Corp IPO? Minimum retail investment is ₹14,875 (1 lot of 35 shares at the upper price band of ₹425).
Q7. Is Lohia Corp IPO a fresh issue or OFS? It is 100% Offer for Sale (OFS). The company itself receives no proceeds — all ₹1,101 crore goes to selling shareholders (promoters).
Q8. What is Lohia Corp’s retail quota percentage? The retail investor quota is only 10% — much lower than the standard 35% for most IPOs. This means lower allotment probability for retail investors applying in this category.
Q9. What does Lohia Corp manufacture? Lohia Corp manufactures industrial machinery for producing PP/HDPE woven fabrics, bags, sacks, and technical textiles — including circular looms, tape extrusion lines, and complete turnkey production lines. It is the market leader in India and among the top manufacturers globally in woven raffia machinery.
Q10. How many patents does Lohia Corp have? Lohia Corp owns 127+ global patents protecting its machinery technology across multiple countries.
Our Verdict: Apply or Avoid?
Reasons to be positive:
- Market leader in India, top-3 globally in an ultra-specialised niche
- Exceptional PAT growth of 64% in FY26 with margin expansion
- 127+ global patents — durable competitive moat
- GMP rising sharply from ₹19 to ₹90 in 3 days — building momentum
- Motilal Oswal as lead manager — strong institutional pedigree
- Reasonable valuation at ~22–24x FY26 P/E
Reasons to be cautious:
- 100% OFS — company gets zero proceeds
- Retail quota only 10% — low allotment odds
- Cyclical industrial machinery business
- Incorporated in 2023 — short formal track record as standalone entity
- Chinese machinery competition is a long-term headwind
Our view: Lohia Corp is a genuinely exceptional business — global technology leadership, strong patent portfolio, and extraordinary FY26 profit growth make this one of the more compelling industrial IPOs in recent years. The 10% retail quota and OFS structure are the main drawbacks. Apply if you are comfortable with low allotment odds and want long-term exposure to India’s industrial packaging and technical textile machinery sector. For listing gains, watch QIB subscription on Day 1–2 closely — if QIBs pile in heavily, the listing premium could be significantly higher than the current GMP suggests.
Stay Updated — Live Updates Below
- July 22: Anchor investor allotment — amount to be confirmed
- July 23 (Day 1 — Wednesday): IPO opens — subscription update coming
- July 25 (Day 3): Final subscription numbers
- July 28: Allotment status + MUFG Intime link
- July 29: Demat credit confirmed
- July 30: Listing price and gain/loss
Bookmark this page for live updates.
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