Lohia Corp’s initial public offering has opened to a lackluster response, with subscription levels standing at just 0.40 times on the first day of bidding.
The company received bids for 56.8 lakh shares against an offer size of 1.43 crore shares, signaling cautious sentiment among retail and non-institutional investors.
The muted demand on the opening day suggests that the market is not rushing to participate in the steel processor’s public debut.
The issue remains open for subscription until Monday, July 27, giving investors three more days to place bids.
The price band for the IPO is set between ₹404 and ₹425 per equity share.
Market sentiment appears further dampened by the grey market premium (GMP), which is signaling a muted listing gain.