Om Power Transmission IPO Day 3 update: The subscription level has reached 71%. Here are the GMP and other important details.
3 min read
The Om Power Transmission IPO is open for subscription from April 9 to April 13, with a price range of ₹166 to ₹175 per share. The company has secured ₹45.01 crore from anchor investors and plans to raise ₹150 crore to meet its operational requirements.
The Om Power Transmission IPO opened for subscription on April 9 and will close on April 13. The price range is ₹166 to ₹175 per share, and the minimum order size is 85 shares. The company has raised ₹45.01 crore from anchor investors such as Craft Emerging Market Fund PCC, Morgan Stanley Asia (Singapore), and Sunrise Investment Trust. Om Power Transmission is an engineering, procurement, and construction (EPC) company specializing in power transmission, with over 14 years of experience.
For the IPO, 50% of the shares are reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. After the second day, the IPO was 71% subscribed, with retail subscriptions at 58%, NII at 38%, and QIBs at 1.18 times. The grey market premium is around ₹2, suggesting a likely listing price of about ₹177, indicating modest short-term gains and a downward trend compared to previous sessions.
The company aims to raise ₹150 crore through a combination of new shares and shares sold from existing owners. The funds will be used for buying machinery, paying off debt, and covering working capital needs. Share allotments are expected on April 15, with refunds and demat credits on April 16, and the listing on BSE and NSE is likely on April 17.
Experts believe this IPO is better suited for long-term investors due to a robust order book, potential for sector growth, and solid fundamentals. However, there are risks, including reliance on government projects and working capital requirements.
For the IPO, 50% of the shares are reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. After the second day, the IPO was 71% subscribed, with retail subscriptions at 58%, NII at 38%, and QIBs at 1.18 times. The grey market premium is around ₹2, suggesting a likely listing price of about ₹177, indicating modest short-term gains and a downward trend compared to previous sessions.
The company aims to raise ₹150 crore through a combination of new shares and shares sold from existing owners. The funds will be used for buying machinery, paying off debt, and covering working capital needs. Share allotments are expected on April 15, with refunds and demat credits on April 16, and the listing on BSE and NSE is likely on April 17.
Experts believe this IPO is better suited for long-term investors due to a robust order book, potential for sector growth, and solid fundamentals. However, there are risks, including reliance on government projects and working capital requirements.
Source Information
Originally published on major financial portals.
