IRM Energy and Lohia Corp had filed preliminary IPO papers with Sebi on December 14 2022 and September 29, 2022 respectively.

Lohia Corp’s 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. 

Cadila Pharma-backed IRM Energy Limited, is a city gas distribution (“CGD”) company in India, engaged in the business of laying, building, operating and expanding the city or local natural gas distribution network and Kanpur-based Lohia Corp is a global leading manufacturers of machinery and equipment used in the production of technical textile, in particular for manufacturing polypropylene (“PP”) and high density polyethylene (“HDPE”) woven fabric and sacks (“Raffia”), with a global market share of 17.5% across all Raffia machinery and more than 28.7% for machines used in PP/ HDPE fabric making have received their final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).

IRM Energy and Lohia Corp had filed preliminary IPO papers with Sebi on December 14 2022 and September 29, 2022 respectively.

IRM Energy’s public issue with a face value of Rs 10 per equity share is a complete fresh issue of up to 10,100,000 equity shares.

Lohia Corp’s 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. 

IRM Energy Limited (IRMEL) in order to capitalize on synergetic its business opportunities, has  entered into a strategic and technical partnership with Shizuoka Gas Co. Ltd, Japan (“ShizGas”) fourth largest gas company in Japan by natural gas sales volume, by infusing capital through a private placement in IRMEL. On the other hand, in order to achieve business integration, it invested in Farm Gas Private Limited, Venuka Polymers Private Limited Ni Hon Cylinders Private Limited. Additionally, it has signed a memorandum of understanding (“MoU”) with Mindra EV Private Limited for setting up an electric vehicle (“EV”) charging infrastructure at DODO Stations and COCO Stations for a period of five years, with a vision of transitioning of becoming an energy oriented company.

Lohia Corp also manufactures winders and rewinders for high-performance fibres such as carbon fibre, glass fibre, and artificial grass. The packaging of cement, fertiliser, chemicals, polymers, food grains, minerals, shopping bags, leno bags, FIBCs, and container liners are just a few examples of the products made utilising its machines that are employed in a variety of sectors. They are also utilised in non-packaging applications, such as wrapping fabric, roof underlayment, lumber wrap, pond liner, tarpaulin, geotextile, geogrid, ground cover, carpet backing, ropes, and twines.

HDFC Bank Limited, and BOB Capital Markets Limited are the book-running lead managers for IRM Energy and

ICICI Securities Limited, IIFL Securities Limited, HSBC Securities and Capital Markets (India) Private Limited, and Motilal Oswal Investment Advisory Limited are the book-running lead managers for Lohia Corp.