The initial public offering of industrial machinery manufacturer Lohia Corp has reached a 43% subscription level halfway through its second day. Market participants are closely watching the Rs 1,101 crore public issue, which aims to capitalize on the firm’s solid track record in the technical textiles equipment sector.
Retail investors have emerged as the primary drivers of the issuance, already accounting for 80% of the shares specifically set aside for them. This strong retail appetite suggests confidence in the company's recent financial performance and its dominant position in machinery production.
Despite the positive reception from individual investors, the sentiment in the informal market remains somewhat conservative. Current grey market trends indicate a muted premium ranging between Rs 3 and Rs 8.5 per share.
As the IPO period continues, institutional interest will be the key factor determining the final subscription outcome. Investors are weighing the firm's growth trajectory against the current lukewarm valuation signals emerging from secondary market channels.
