Lohia Corp IPO is a book-built public issue worth ₹1,101.28 crores. The offering consists entirely of an offer for sale of 2.59 crore shares amounting to ₹1,101.28 crore, with no fresh issue included. The IPO will be available for subscription from Jul 23, 2026 to Jul 27, 2026.
The allotment is expected to be finalised on Jul 28, 2026, and the shares are likely to be listed on the NSE and BSE on Jul 30, 2026. The price band has been fixed at ₹404 to ₹425 per share. The minimum application size is 35 shares, requiring ₹14,875 for retail investors based on the upper price.
sNII investors must apply for 14 lots (490 shares) worth ₹2,08,250, while bNII investors need 68 lots (2,380 shares) amounting to ₹10,11,500. Equirus Capital Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. has been appointed as the registrar.
Company Overview
Lohia Corp Limited was incorporated in 2023 following the demerger of the technical textiles machinery business from Lohia Global Pvt. Ltd., although the business itself has decades of operating history.
Lohia Corp is a global manufacturer of machinery and equipment for the technical textiles industry, with a strong focus on solutions for manufacturing polypropylene (PP) and high-density polyethylene (HDPE) woven fabric and sacks (raffia).
As of March 31, 2026, the company has an installed annual production capacity of 240 tape extrusion lines, 13,800 circular looms, and 108,000 winders. Its product portfolio includes tape extrusion lines, circular looms, coating and lamination lines, printing and conversion machines, multifilament yarn machines, twister winders, monofilament extrusion lines, recycling machines, and spare parts.
Lohia Corp’s machinery caters to both packaging and non-packaging applications, supporting the production of cement, fertilizer, chemical, polymer, food grain, and mineral bags, along with shopping bags, FIBCs, container liners, tarpaulins, geotextiles, ground covers, carpet backing, ropes, and twines.
Industry Context
- Growing Technical Textiles Industry: The technical textiles sector is witnessing steady expansion, driven by increasing demand from industries such as packaging, agriculture, infrastructure, construction, and logistics.
- Rising Demand for Woven Packaging: Industries including cement, fertilizers, chemicals, food grains, and polymers continue to rely on PP and HDPE woven packaging solutions due to their durability, strength, and cost efficiency.
- Focus on Manufacturing Automation: Producers are increasingly investing in advanced machinery and automated production lines to improve efficiency, reduce operating costs, and maintain consistent product quality.
- Sustainability Driving Innovation: The industry’s growing emphasis on recycling, resource efficiency, and waste reduction is accelerating the adoption of modern recycling equipment and energy-efficient manufacturing technologies.
- Export Opportunities and Global Demand: As industrial production and trade expand worldwide, demand for high-quality technical textile machinery is increasing, creating opportunities for manufacturers with strong engineering capabilities and global market presence.
Business Strengths
- Lohia Corp is a market leader in India for woven raffia machinery, holding a 40.7% market share by value in Fiscal 2025, while also ranking among the leading global manufacturers by revenue.
- In 2024, the company accounted for 15.4% of the global woven raffia machinery market by value and supplied its products to around 100 countries during Fiscal 2026, 2025, and 2024.
- As of March 31, 2026, the company’s installed customer base had an aggregate extrusion capacity of 8.59 million MT, reflecting the widespread adoption of its machinery.
- Lohia Corp has sold over 2,447 tape extrusion lines, 502,940 winders, and 101,452 circular weaving looms, demonstrating its large installed base and industry acceptance.
- The company leverages a broad international sales and distribution network, enabling it to serve customers across multiple regions and strengthen its presence in global markets.
Business Risks
- Around 88% of the company’s FY26 revenue came from woven raffia machinery. Any slowdown in demand from packaging, agriculture, infrastructure or other end-use industries could adversely affect its business and financial performance.
- The company relies on domestic and imported raw materials and critical machine components. Supply disruptions, import restrictions, tariff changes or rising input costs could increase manufacturing expenses and affect profitability.
- Lohia Corp operates manufacturing facilities across India, the US and Italy. Any disruption due to natural disasters, equipment failures, labour issues or geopolitical events could impact production, deliveries and operations.
- Demand for woven raffia machinery may be affected by stricter environmental regulations, rising adoption of alternative packaging materials, high machinery costs and increasing competition, limiting future growth opportunities.
- The company’s growth depends on continuous technology upgrades and a skilled workforce. Delays in innovation, talent shortages or an inability to meet evolving customer requirements could affect operational efficiency and competitiveness.
Financial Performance
Lohia Corp Limited – Financials (₹ in Million)
| Particulars | Fiscal 2026 | Fiscal 2025 | Fiscal 2024 |
|---|---|---|---|
| Revenue from Operations | 17,169.95 | 13,768.72 | 11,658.08 |
| Order book | 13,585.17 | 8,284.57 | 7,692.40 |
| EBITDA | 3,394.51 | 2,286.02 | 1,059.62 |
| Profit for the year | 1,934.52 | 1,178.41 | 297.58 |
| Return on Equity (in %) | 36.80 | 31.71 | 11.92 |
| Return on Capital Employed (in %) | 40.92 | 30.45 | 10.45 |
| Net Debt to Equity | 0.23 | 0.47 | 1.06 |
(Source: RHP)
Key Ratios & Metrics
| Key Performance Indicator (KPI) | FY26 (Mar 31, 2026) | FY25 (Mar 31, 2025) |
|---|---|---|
| Return on Equity (ROE) | 36.80% | 31.71% |
| Return on Capital Employed (ROCE) | 40.92% | 30.45% |
| Debt-to-Equity Ratio | 0.23 | 0.47 |
| Return on Net Worth (RoNW) | 72.95% | 106.11% |
| PAT Margin | 11.13% | 8.50% |
| EBITDA Margin | 19.53% | 16.49% |
IPO Details
| Particulars | Details |
|---|---|
| IPO Date | 23 – 27 July, 2026 |
| Allotment | Tuesday, July 28, 2026 |
| Listing Date | Thursday, July 30, 2026 |
| Face Value | ₹1 per share |
| Price Band | ₹404 to ₹425 per share |
| Lot Size | 35 Shares |
| Issue Type | Book Building IPO |
| Sale Type | OFS Only |
| Total Issue Size | 2,59,31,407 shares (aggregating up to ₹1,101.28 crore) |
| Employee Discount | ₹40.00 |
| Offer for Sale(OFS) | 2,59,31,407 shares of ₹1 (aggregating up to ₹1,101.28 crore) |
| Shareholding Pre-Issue | 10,56,50,000 shares |
| Shareholding Post-Issue | 10,56,50,000 shares |
| Listing Exchange | BSE, NSE |
(Compiled from RHP and market updates)
Objects of the Offer
Complete the Offer for Sale of 25,931,407 Equity Shares having a face value of ₹1 each, aggregating up to ₹1,101.28 crore, by the Selling Shareholders.
Conclusion
Lohia Corp has established a strong position in the technical textile machinery industry through its leadership in the woven raffia machinery segment, diversified product portfolio, and extensive global presence. Its broad customer base, established manufacturing capabilities, and focus on innovation support its long-term growth prospects.
However, investors should also consider factors such as global demand trends, foreign exchange exposure, and overall industry conditions before making an investment decision. Reviewing the company’s financial performance, valuation, and associated risks alongside individual investment goals can help in making a well-informed decision regarding the IPO.
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Disclaimer: Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. This content is purely for informational purposes only and should not be considered as investment advice or a recommendation. Securities quoted are for illustration purposes only and not recommendatory. Investors are requested to do their own due diligence before investing.
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