Lohia Corp raised Rs 492 crore from anchor investors including Nomura, Citigroup and Societe Generale ahead of its Rs 1,102 crore IPO.

In total, 27 anchor investors took part. Lohia Corp allotted them nearly 1.16 crore shares at Rs 425 apiece, the top end of its price band.

Domestic names joined the international ones too, including Kotak Mahindra, ICICI Prudential, Nippon India, SBI Life and Tata AIA. Seven domestic mutual funds alone picked up over 73 lakh of those shares.

Here’s something worth knowing before you invest. This entire IPO is an offer for sale. That means Lohia Corp itself won’t get a rupee from it.

Every bit of the money raised goes straight to the Lohia family, who are selling part of their stake, and a few other existing shareholders.

Lohia Corp makes machinery used to manufacture technical textiles, mainly the woven plastic fabric and sacks used in packaging. It runs six factories spread across India, the US and Italy, and holds the top spot in India’s woven Raffia machinery market.

As of March this year, its factories could produce using 240 tape extrusion lines, nearly 13,800 circular looms and over a lakh tape winders.

The price band for the issue is set at Rs 404 to 425 per share. Investors can apply for a minimum of 35 shares. Subscription closes on July 27, and the company expects its shares to start trading on the NSE and BSE around July 30.

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