The Lohia Corp IPO legal advisors have been confirmed as Cyril Amarchand Mangaldas, S&R Associates, and Hogan Lovells Cadwalader, as Lohia Corp Limited completed its ₹1,101.28 crore initial public offering. The offer, structured entirely as an offer for sale, opened for subscription from July 23 to July 27, 2026, with shares listed on the BSE and NSE on July 30, 2026.
Introduction
Lohia Corp Limited, the flagship company of the Lohia Group, completed a mainboard IPO comprising solely an offer for sale of equity shares aggregating to ₹1,101.28 crore. The issue consisted of 2,59,31,407 equity shares of face value ₹1 each, priced at a band of ₹404 to ₹425 per share, with MUFG Intime India Private Limited acting as the registrar of the issue. The book-running lead managers (BRLMs) were Equirus Capital Limited and Motilal Oswal Investment Advisors Limited.
Lohia Corp is the flagship company of the Lohia Group, specialising in manufacturing advanced machinery solutions for the plastic woven fabric industry. With over four decades of experience, the company provides machinery for woven sacks, monofilament, and strapping, serving industries globally. Cyril Amarchand Mangaldas also represented the company and certain promoters/promoter group members in a pre-IPO secondary sale conducted before the main offer.
Deal Value
The IPO aggregated to ₹1,101.28 crore, structured entirely as an offer for sale by the selling shareholders, meaning no proceeds accrued to the company. The issue was priced at ₹425 per share at the upper end of the price band, with a lot size of 35 shares and a minimum retail investment of ₹14,875.
Legal Teams Involved
Cyril Amarchand Mangaldas — Advised Lohia Corp (Issuer)
Cyril Amarchand Mangaldas acted as domestic legal counsel to Lohia Corp on the IPO. The firm also separately represented the company and certain promoters/promoter group members in a pre-IPO secondary sale. In addition, the firm advised on the structuring of certain promoter trusts, and on ESOP, employment, and secretarial matters.
IPO Transaction Team:
- Abhiroop Lahiri — Partner (Lead)
- Aakash Rao — Associate
- Arnab Roy — Associate
- Vatsala Parashar — Associate
- Shvabh Chakarwarti — Associate
- Sanskar Modi — Associate
Pre-IPO Secondary Sale Team:
- Ravi Shah — Partner (Lead)
- Bhakti Madan — Principal Associate
- Vidhi Shah — Senior Associate Designate
Promoter Trust Structuring Team:
- Shaishavi Kadakia — Partner (Lead)
- Pratyush Khanna — Principal Associate
ESOP, Employment & Secretarial Team:
- Bharath Reddy — Partner (Lead)
- Abhishek Gabriel — Senior Associate Designate
- Deepa Pathak — Consultant
- Mihir Sangani — Manager – Corporate Secretarial Services
S&R Associates — Advised the BRLMs (Domestic Counsel)
S&R Associates acted as domestic legal counsel to the book-running lead managers, Equirus Capital Limited and Motilal Oswal Investment Advisors Limited. Further details of the transaction team were not disclosed.
Hogan Lovells Cadwalader — Advised the BRLMs (International Counsel)
Hogan Lovells Cadwalader served as international legal counsel to the BRLMs.
International Counsel Transaction Team:
- Biswajit Chatterjee — Head of the India Practice and Dubai Office Managing Partner (Lead)
- Kaustubh George — Counsel
- Suchisubhra Sarkar — Senior Associate
- Sanjana Ravjiani — Associate
Significance and Impact
The Lohia Corp IPO is notable for its breadth of legal advisory mandates, spanning domestic counsel to the issuer, pre-IPO secondary sale representation, promoter trust structuring, and ESOP advisory — all handled by Cyril Amarchand Mangaldas across four distinct transaction teams. The engagement of Hogan Lovells Cadwalader as international counsel to the BRLMs reflects the cross-border dimension of the offer, given Lohia Corp’s global customer base spanning approximately 100 countries. The involvement of three law firms across multiple mandates underscores the structural complexity typical of large mainboard IPOs in India.
The IPO also carries sectoral significance, as Lohia Corp holds a 40.7% share of the Indian woven Raffia machinery market by value and ranks among the top global players in its segment. As a pure offer for sale, the transaction delivered liquidity entirely to the selling shareholders without diluting the company’s capital base. For the legal market, the deal reinforces the prominence of Cyril Amarchand Mangaldas in domestic capital markets mandates and the growing role of international firms such as Hogan Lovells Cadwalader in India-linked cross-border IPO work.
The Lohia Corp ₹1,101.28 crore IPO, listed on the BSE and NSE in July 2026, brought together three law firms across multiple advisory mandates. Cyril Amarchand Mangaldas led the most extensive engagement, advising the issuer across IPO, pre-IPO secondary sale, promoter trust structuring, and ESOP matters, while S&R Associates and Hogan Lovells Cadwalader counselled the BRLMs as domestic and international counsel respectively. For a full overview of recent deal activity in the Indian legal market, see the Deal Meter.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
