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Listed
Industrial Manufacturing
Lohia Corp Limited IPO
₹1101 Cr · Offer for Sale (OFS) · Industrial Manufacturing
Price Band
₹404 – ₹425
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹1101 Cr
Offer for Sale (OFS)
Market Cap
₹4490.13 Cr
At upper band
P/E Ratio
23.2x
P/S: 2.6x
Listing Date
30 Jul 2026
BSE & NSE
IPO Timeline
✓
Opens
23 Jul 2026
✓
Closes
27 Jul 2026
✓
Allotment
28 Jul 2026
✓
Refund
29 Jul 2026
✓
Listing
30 Jul 2026
IPO India Hub: Subscribe
Conviction
7/10
The company trades at 1.01× the Manufacturing sector midpoint with strong operational metrics: 40.92% ROCE, 19.53% EBITDA margin, and 2-year revenue CAGR of 1476%. The primary risk is that 100% of the issue is OFS with no fresh capital raise, limiting growth funding capacity.
Listing Performance
Issue Price
₹425
Allotment price
Listing Price
₹460
+8.24% on listing day
Current Price (CMP)
₹534.65
+25.8% vs issue
Listed On
30 Jul 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Exceptional capital efficiency and returns
ROCE of 40.92% significantly exceeds typical manufacturing benchmarks, indicating the company generates strong returns on invested capital. Combined with an EBITDA margin of 19.53%, this demonstrates operational discipline and pricing power in the industrial manufacturing segment.
✓ Strength
Hypergrowth trajectory with scale
Revenue grew from ₹7.0 Cr (FY-2) to ₹1,737.9 Cr (FY0), a 1476% CAGR over two years, while PAT expanded 595% CAGR to ₹193.4 Cr. This scale-up demonstrates successful market penetration and operational leverage in a growing industrial sector.
⚠ Risk
100% OFS with no fresh capital
The entire ₹1,101 Cr issue is Offer for Sale; the company raises zero new capital for expansion, working capital, or debt reduction. This limits the company's ability to fund organic growth or strategic investments post-listing, despite strong profitability.
⚠ Risk
Margin compression risk at scale
Net Profit Margin of 11.1% is below the 15% threshold typically required to justify premium valuations. As the company scales and potentially faces competitive pressure or input cost inflation, margin sustainability becomes critical to justify current valuation multiples.
₹ Valuation
Fair valuation at sector midpoint
P/E of 23.2× equals 1.01× the Manufacturing/Engineering sector midpoint (18–28× range). At this ratio, the company is fairly valued relative to peers; growth credentials (1476% revenue CAGR) support the multiple, though NPM of 11.1% leaves limited margin for error.
👁 Watch
Post-listing capital allocation strategy
Monitor management commentary on use of promoter proceeds from OFS and any plans for debt reduction or organic capex. With D/E at 0.23× and zero fresh capital, clarity on how the company will fund growth will be critical to justify the valuation.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Lohia Corp Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹1716.99 Cr
Net Profit
₹193.45 Cr
Industry
Industrial Manufacturing
Issue Type
Offer for Sale (OFS)
Promoters
RAJ KUMAR LOHIA, GAURAV LOHIA AND AMIT KUMAR LOHIA
Lead Managers
Equirus Capital & Motilal Oswal Investment Advisors
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 1.01× the Manufacturing sector midpoint with strong operational metrics: 40.92% ROCE, 19.53% EBITDA margin, and 2-year revenue CAGR of 1476%. The primary risk is that 100% of the issue is OFS with no fresh capital raise, limiting growth funding capacity.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
Lot size details will be updated when the DRHP is filed. The price band is ₹404 – ₹425.
The IPO opens on 23 Jul 2026. It closes on 27 Jul 2026. Allotment is expected on 28 Jul 2026. Refunds initiate on 29 Jul 2026. Listing on BSE and NSE is on 30 Jul 2026.
The lead managers for the IPO are Equirus Capital & Motilal Oswal Investment Advisors. Check the SEBI filing for the registrar details.
The IPO listed on 30 Jul 2026 at ₹460 against an issue price of ₹425 (+8.24% on listing day). The current market price (CMP) is approximately ₹534.65 (+25.8% vs issue).
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 27 Jul 2026. The company trades at 1.01× the Manufacturing sector midpoint with strong operational metrics: 40.92% ROCE, 19.53% EBITDA margin, and 2-year revenue CAGR of 1476%. The primary risk is that 100% of the issue is OFS with no fresh capital raise, limiting growth funding capacity.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 27 Jul 2026. The IPO is priced at a P/E of 23.2x. Market cap at issue price is ₹4490.13 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The issue closes on 27 Jul 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Lohia Corp Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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