Om Power Transmission IPO Sees 3.3x Subscription on Third Day, NII Portion Witnesses Strong Demand Ahead of Listing

Om Power Transmission IPO Sees Strong Investor Interest

The initial public offering (IPO) of Gujarat-based Om Power Transmission, a power transmission infrastructure engineering, procurement, and construction (EPC) company, witnessed a sharp rise in investor interest on the final day of bidding, pushing the subscription rate to over three times. The issue, which opened on Thursday, April 9, closed today.

During the three-day bidding period, Om Power Transmission attracted bids for 1.99 crore shares against over 60 lakh shares on offer, resulting in a subscription rate of 3.3 times, according to exchange data. The non-institutional buyer segment showed strong interest in the issue, with the quota being subscribed seven times, while the qualified institutional buyer (QIB) portion was subscribed 3.65 times, and the retail investor portion was subscribed 1.54 times, the exchange data showed.

Om Power Transmission IPO Details

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The Om Power Transmission IPO, worth ₹150 crore, is priced in the range of ₹166–175 per equity share. It is a combination of a fresh issue of 0.76 crore shares aggregating ₹132 crore and an offer for sale of 0.10 crore shares aggregating ₹17.50 crore.

The basis of allotment is expected to be finalised on Wednesday, April 15. Successful bidders are likely to receive shares in their demat accounts on Thursday, April 16, while refunds for non-allottees will also be processed on the same day. The stock is slated to list on the BSE and NSE on Friday, April 17.

The company proposes to use the proceeds from the issue towards funding capital expenditure, purchasing new machinery and equipment, debt repayment, meeting working capital requirements, and general corporate purposes. In terms of financial performance, the company reported revenue of ₹27,943.51 lakh, EBITDA of ₹3,565.60 lakh, and profit after tax (PAT) of ₹2,208.48 lakh for the financial year ended March 31, 2025.

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Grey Market Premium

According to market sources, the grey market premium (GMP) of Om Power Transmission stood at ₹1.3 per share as of Friday. This premium implies a potential listing price of around ₹177, signalling a 0.75% upside over the upper IPO price of ₹175.

About Om Power Transmission

Om Power Transmission Limited is a power transmission infrastructure engineering, procurement, and construction (EPC) company that executes high-voltage and extra-high-voltage transmission lines, substations, and underground cabling projects on a turnkey basis. Its services encompass design, engineering, supply, erection, installation, testing, commissioning, and comprehensive operations and maintenance (O&M) services.

Since its incorporation in 2011 in Gujarat, the company has developed EPC capabilities for transmission lines ranging from 11 kV to 400 kV and substations up to 220 kV. Its operations are divided into four verticals, including transmission line EPC projects, substation EPC projects, underground cabling projects, and O&M services for substations and transmission lines. The company has commissioned over 1,000 circuit kilometres (CKM) of transmission lines and 11 substations, with more than 450 CKM of transmission lines and underground cabling, along with four substations, completed in the last three fiscal years, as per the DRHP.