Om Power Transmission IPO: Day 2 Update on Subscription, GMP Trends and Key Developments

Om Power Transmission's IPO Sees Steady Start on Day 2 of Subscription

The initial public offering (IPO) of Om Power Transmission is entering its second day of subscription on April 10, 2026, following a steady start on the opening day. The public issue, which opened on April 9, will remain available for bidding until April 13.

On the first day of subscription, the IPO witnessed an overall subscription of 39%. Qualified Institutional Buyers (QIBs) led the participation, with their portion being booked 0.78 times (78%). Retail Individual Investors (RIIs) showed moderate interest with 0.30 times (30%) subscription, while Non-Institutional Investors (NIIs) lagged at 0.11 times (11%).

Anchor Investors Picked Up Shares Ahead of IPO

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Before the issue opened, the company raised Rs 45.01 crore from anchor investors. The anchor investors included Mauritius-based Craft Emerging Market Fund PCC, which acquired 16.57 lakh shares worth over Rs 29 crore via its Elite Capital Fund and Citadel Capital Fund. Morgan Stanley Asia (Singapore) acquired 5.71 lakh shares for Rs 10 crore, while Sunrise Investment Trust bought 3.43 lakh shares valued at Rs 6.01 crore.

Company Profile and Peers

Om Power Transmission operates in the engineering, procurement and construction (EPC) segment, focusing on power transmission infrastructure, and has over 14 years of experience in the sector. The company's listed peers include Rajesh Power Services Ltd, Advait Energy Transitions Ltd, and Viviana Power Tech Ltd. The P/E ratios of these companies are 16.38, 57.52, and 25.15, respectively.

IPO Allocation Structure

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The IPO allocation structure earmarks up to 50% of the issue for QIBs, at least 15% for NIIs, and a minimum of 35% for retail investors.

Grey Market and Listing Expectations

In the grey market, the GMP stood at Rs 3.5 as of April 10. Based on the upper price band of Rs 175, the estimated listing price is around Rs 178.5, indicating a modest potential gain of about 2%.

Key Dates

The basis of allotment is likely to be finalised on April 15. Refunds are expected to be initiated on April 16, with shares credited to demat accounts on the same day. The stock is tentatively scheduled to list on the BSE and NSE on April 17.