According to the draft papers, the entire issue is an offer for sale (OFS) of up to 3,16,95,000 equity shares with a face value of Re 1 each by its existing shareholders and promoters.
Promoters participating in OFS include Raj Kumar Lohia (up to 51.25 lakh shares), Neela Lohia (up to 4.1 lakh shares), Gaurav Lohia (up to 20 lakh shares), Amit Kumar Lohia (up to 42.47 lakh shares) and Ritu Lohia (up to 15.37 lakh shares).
Other selling shareholders include Ajay Lohia (up to 27 lakh shares), Shradha Lohia (up to 31.16 lakh shares), Gopal Chandra Lohia (up to 3.2 lakh shares), Jitendra Kumar Lohia (up to 29.25 lakh shares), Alok Kumar Lohia (up to 26.19 lakh shares), Anurag Lohia (up to 37.41 lakh shares) and Anuja Lohia (up to 29.55 lakh shares).
All the selling shareholders have acquired the shares of the company at the rate of Rs 0.07-0.15. The offer also includes a reservation for a subscription by eligible employees.
Incorporated as Lohia Starlinger in 1981, Lohia Corp is one of the leading manufacturers globally of machinery and equipment used in the production of technical textiles.
It particularly manufactures polypropylene (PP) and high-density polyethylene (HDPE) woven fabric and sacks (Raffia), with a global market share of 17.5 per cent across all Raffia machinery and more than 28.7 per cent for machines used in PP/HDPE fabric making.
It had been granted over 26 patent grants in India and submitted 58 patent applications, which were presently being reviewed as of March 31, 2022.
The company has a customer base comprising over 2,000 customers in over 90 countries globally as of the year ended March 31, 2022. It supplies machinery and equipment through a global sales network.
The company’s revenue from operations increased by 67.75 per cent to Rs 2,237.48 crore for the financial year 2021-22 from Rs 1,333.79 crore from the previous year. Its profit after tax jumped to Rs 160.85 crore from Rs 119.30.
The company will reserve 50 per cent of the net issue for the qualified institutional buyers (QIBs), whereas non-institutional bidders will get 15 per cent shares. The remaining 35 per cent shares will be allocated to the retail bidders.
, , HSBC Securities and Capital Markets (India), and Investment Advisory are the book-running lead managers. Link Intime India is the registrar for the issue.