Om Power Transmission IPO Set to Debut: Key Indicators Revealed Ahead of Listing

Om Power Transmission IPO Set to List in Indian Stock Market

Shares of Om Power Transmission are scheduled to list in the Indian stock market tomorrow, Friday, April 17. The allotment of shares for the company's initial public offering (IPO) was finalized on Wednesday, April 15. Those who have been allocated shares can expect them to be credited to their demat accounts today, Thursday, April 16. Meanwhile, those who have not yet received their shares can also expect to receive a refund today.

Om Power Transmission, a power infrastructure company, launched its IPO for subscription from Thursday, April 9, to Monday, April 13. The offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed to their portion 7.06 times. Qualified institutional buyers (QIBs) also showed interest, with their quota being booked 3.65 times. Retail investors' segment showed a subscription rate of 1.54 times.

The IPO details are as follows:

| Category | Subscription Status | | --- | --- | | Qualified Institutional Buyers (QIBs) | 3.65 times | | Non-Institutional Investors (NIIs) | 7.06 times | | Retail Investors | 1.54 times |

The company reserved not more than 50% of the shares in the public issue for QIBs, not less than 15% for NIIs, and not less than 35% of the offer for retail investors. The Om Power Transmission IPO price band was fixed in the range of ₹166 to ₹175 per equity share of the face value of ₹10. Investors could apply for the mainboard IPO in lot sizes of 85 equity shares and in multiples of 85 equity shares thereafter.

Ahead of the listing, the grey market premium (GMP) for Om Power Transmission IPO signals a tepid debut. The current GMP is +1.5, indicating a downward trend. The estimated listing price of Om Power Transmission share price was indicated at ₹176.5 apiece, which is 0.86% higher than the IPO price of ₹175.

Om Power Transmission, a power transmission infrastructure EPC firm based in Ahmedabad, decided to tap the capital markets to raise ₹150 crore by launching a share sale of 85.75 lakh shares. This IPO consisted of a fresh issue of 75.75 lakh shares along with an offer-for-sale of 10 lakh shares from the promoters. The funds raised will be mainly used for purchasing machinery and equipment, repaying certain debts, and addressing working capital requirements. Beeline Capital Advisors is acting as the book-running lead manager, while MUFG Intime India serves as the registrar for the issue.