Omnitech Engineering IPO Update: Issue Sees Modest Demand on Second Day, 9% Subscribed So Far

Omnitech Engineering IPO Subscription Status

As of the end of the first day of bidding, the Omnitech Engineering IPO was subscribed only 9%, with bids received for 15.86 lakh shares against the 1.79 crore shares on offer, according to exchange data.

Subscription Breakdown

• Retail segment: subscribed 0.06 times
• Non-institutional investor (NII) category: subscribed 0.06 times
• Qualified institutional buyer (QIB) portion: subscribed 0.14 times
• Employee segment: oversubscribed by 2.20 times

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Grey Market Premium (GMP)

The GMP of Omnitech Engineering IPO has fallen to ₹0 from ₹4, indicating a possible listing price of ₹227, the same as the IPO price.

Brokerage Firm Review

Swastika Investmart has given a 'subscribe' rating to the Omnitech Engineering IPO, citing the company's strong customer base, revenue growth, and healthy margins. However, the company's debt level warrants close monitoring.

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IPO Details

• ₹583 crore offering consisting of a fresh issue of 1.84 crore shares and an offer for sale (OFS) of 0.73 crore shares
• Price band: ₹216-₹227 per share
• Lot size: 66 shares, minimum investment for retail investors: ₹14,982
• Share allotment expected to be finalized on Monday, March 2
• Listing on Thursday, March 5 on both the National Stock Exchange of India and the BSE