Lohia Corp IPO Subscribed 0.40 Times on Day 1; Bidding Open Until July 27

The Initial Public Offering (IPO) of Lohia Corp received a modest response on its first day, with bids for 56.8 lakh shares against an offer of 1.43 crore shares, resulting in a 0.40 times subscription. Retail investors interested in the IPO have until July 27 to place their bids, with shares priced in a band of ₹404 to ₹425 each.

The Initial Public Offering (IPO) of Lohia Corp received a modest response on its first day, with bids for 56.8 lakh shares against an offer of 1.43 crore shares, resulting in a 0.40 times subscription. Retail investors interested in the IPO have until July 27 to place their bids, with shares priced in a band of ₹404 to ₹425 each.

The Initial Public Offering (IPO) for Lohia Corp, a company specializing in manufacturing packaging solutions, saw a subdued start on its opening day. As of the close of bidding on the first day, the IPO was subscribed 0.40 times, indicating a modest demand from investors.

According to data from Mint Markets, investors placed bids for a total of 56.8 lakh (5.68 million) shares. This figure stands against the company's offer of 1.43 crore (14.3 million) shares to the public. The IPO aims to raise capital through the sale of these shares.

Key Details for Investors

• Issue Dates: The Lohia Corp IPO opened for subscription on its first day and will remain open until July 27, 2024.
• Price Band: The company has set the price band for its shares between ₹404 and ₹425 per equity share. This means investors must bid within this range.
• Subscription Status: On Day 1, the overall subscription stood at 0.40 times. This figure is a cumulative total across all investor categories, including retail, Qualified Institutional Buyers (QIBs), and Non-Institutional Investors (NIIs).

The response on the first day suggests that investors are taking a cautious approach. The subscription rate will be closely watched over the next two days as the IPO progresses. Typically, demand tends to pick up towards the latter half of the bidding period, especially from retail investors and High Net-worth Individuals (HNIs).

Investors considering participating in the Lohia Corp IPO should review the company's prospectus, financial performance, and future growth prospects. The final subscription figures will determine the level of investor confidence and could influence the company's listing performance on the stock exchanges.

This article is for informational purposes only and does not constitute investment advice. Please consult a financial advisor before making any investment decisions.