NEW DELHI: Lokesh Machines Ltd (LML) on Tuesday said it would tap the equity market with an initial public offer (IPO) of 30 lakh shares to mop up around Rs. 40 crore to fund expansion plans. The issue, which opens on April 7 and closes on April 13, will see the company offer equity shares of Rs. 10 each at a price band of Rs. 130-140. The issue constitutes 25.4 per cent of the fully diluted post-issue paid-up capital of the company.