Lohia Corp’s initial public offering has closed with a 7.25 times subscription, signaling robust investor appetite for the Indian steel producer ahead of its listing on July 30.
The three-day bidding window, which ran from July 23 to 27, attracted significant interest across investor categories, culminating in a fully subscribed offer-for-sale (OFS) issue.
5. This translates to a premium of ₹40 per share in the unofficial market, outpacing the more conservative 4% gains initially signaled in early reports.
The issue involves the sale of 2.59 crore shares by existing promoters.
While the formal subscription data confirms the oversubscription, unofficial grey market trading has priced in a more aggressive listing gain.
Grey market premiums suggest shares could debut at ₹442.5, implying a 9% gain over the issue price of ₹402.5.
This translates to a premium of ₹40 per share in the unofficial market, outpacing the more conservative 4% gains initially signaled in early reports.