Upcoming IPO In India 2022 : Lohia Corp Ltd, a company that makes machines used in the production of technical textiles, is now about to come up with its IPO. This company from Kanpur city of Uttar Pradesh has filed a draft paper for the IPO with the market regulator SEBI.
OFS based IPO
Let us tell you that according to the recently filed Draft Red Herring Prospectus (DRHP), this IPO will be completely based on Offer for Sale (OFS). Under this, 31,695,000 equity shares will be sold by the promoters and other shareholders.
List will be on BSE-NSE
The company expects that the proposed listing of its equity shares will give brand recognition to the company. ICICI Securities, IIFL Securities, HSBC Securities and Capital Markets (India) Private Limited, and Motilal Oswal Investment Advisory are the book-running lead managers to the issue. The equity shares of the company will be listed on BSE and NSE. This IPO will be completely based on Offer for Sale (OFS). In this, 31,695,000 equity shares will be sold by the promoters and other shareholders.
This is the identity of the company
Kanpur-based Lohia Corp. manufactures machinery and equipment used in the production of Technical Textiles. These machines are specially used to manufacture polypropylene and high density polyethylene woven fabrics and sacks.
Work in more than 90 countries
As of March 31, 2022, the company’s customer base includes more than 2,000 customers in over 90 countries globally. The company’s operating revenue in FY 2022 increased from Rs 1,333.79 crore in FY 2021 to Rs 2,237.48 crore, while profit after tax increased from Rs 119.30 crore to Rs 160.85 crore during the same period.
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