Lohia Corp’s initial public offering gained traction on its second day of bidding, with the Retail Individual Investor (RII) category becoming fully subscribed at 1.08 times.
Overall subscription for the issue rose to 0.59 times by the close of Friday’s session, marking a notable improvement from the lackluster start on day one, when subscription stood at just 0.40 times.
Grey market trading has been pricing in a 9% listing gain, with shares changing hands at a premium of ₹40 per share.
The surge in retail interest appears to be bridging the gap between formal bidding and unofficial market sentiment.
Grey market trading has been pricing in a 9% listing gain, with shares changing hands at a premium of ₹40 per share.
This unofficial optimism suggests that while institutional or high-net-worth participation may still be cautious, retail appetite is building as the book runs.
The company, which received bids for 56.8 lakh shares on the first day against an offer size that left the issue undersubscribed, now faces a critical juncture.