Grey market trading for Lohia Corp’s initial public offering is pricing in a 9% listing gain, with shares changing hands at a premium of ₹40 per share.
The unofficial market sentiment stands in contrast to the formal subscription data, which has shown muted interest from institutional and retail investors so far.
The IPO, which opened on July 23 and remains open until July 27, recorded subscription levels of just 0.40 times on its first day.
Bids were received for 56.8 lakh shares against the total offer size, indicating cautious participation in the primary market.
The divergence between the grey market premium and the low subscription multiple highlights a split in investor sentiment, with speculative traders betting on a listing pop while formal bidders remain hesitant.
Lohia Corp, a player in the steel and infrastructure sector, is navigating a challenging IPO environment where investor appetite for new issues has been selective.