Lohia Corp Ltd has submitted draft documents for its initial public offering to the capital markets regulator Sebi. The IPO is an offer by shareholders and promoters to sell as many as 31.7 million shares.

OFS includes up to 5.13 million Raj Kumar Lohia, 2 million Gaurav Lohia, 4.25 million Amit Kumar Lohia, 1.54 million Ritu Lohia, 2.7 million Ajay Lohia, 3.12 million Shradha Lohia, 2.93 million shares Jitendra Kumar Lohia, Alok Kumar Lohia 2.62 million shares, Anurag Lohia 3.74 million shares, Anuja Lohia 2.96 million shares and Neela Lohia 410,000 shares.

ICICI Securities, HSBC Securities and Capital Markets India, IIFL Securities and Motilal Oswal Investment Advisors are the lead managers for the offering.

Lohia Corp is one of the world’s leading machinery and equipment manufacturers for technical textiles, especially polypropylene and HDPE woven fabrics and sacks (raffia).

It owns and operates four machine manufacturing plants, three in India and one in the United States. Its two manufacturing units are in Kanpur and Bangalore, with a total area of approximately 180,000 square meters and a total gross floor area of over 112,000 square meters. The US factory is in Burlington.

In fiscal 2022, operating income stood at Rs 2,237.48 crore compared to Rs 1,333.79 crore in the previous year. Net profit for the period was Rs 159.38 crore compared to Rs 120.78 crore a year ago. Net debt for the period stood at Rs 113.46 crore.