Kanpur-based Lohia Corp Limited, a global supplier of machinery for end-to-end solutions for the plastic woven fabric industry used for packaging systems for solid bulk materials and infrastructure applications, has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).
The public issue with a face value of Re 1 per equity share is a complete offer-for-sale (OFS) of up to 31,695,000 equity shares by the existing shareholders, which comprises up to 5,125,000 equity shares by Raj Kumar Lohia, up to 410,000 equity shares by Neela Lohia, up to 2,000,000 equity shares by Gaurav Lohia, up to 4,247,000 equity shares by Amit Kumar Lohia, up to 1,537,000 equity shares by Ritu Lohia collectively as (“Promoter Selling Shareholders”), up to 2,700,000 equity shares by Ajay Lohia, up to 3,116,000 equity shares by Shradha Lohia, up to 320,000 equity shares by Gopal Chandra Lohia, up to 2,925,000 equity shares by Jitendra Kumar Lohia, up to 2,619,000 equity shares by Alok Kumar Lohia, up to 3,741,000 equity shares by Anurag Lohia, and up to 2,955,000 equity shares by Anuja Lohia collectively as (“Other Selling Shareholders”). The offer also includes a reservation for a subscription by eligible employees.
The offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.