Om Power Transmission, a company specializing in engineering, procurement, and construction (EPC) services within the power transmission sector, has recently launched its initial public offering (IPO). The subscription for this IPO commenced on April 9, 2026, and is set to conclude on April 13, 2026. The price band for the IPO is established between ₹166 and ₹175 per equity share, with a minimum lot size of 85 shares.
As of Day 2, the IPO has been subscribed 71% overall, with varying subscription rates across different investor categories. The Qualified Institutional Buyers (QIB) portion has been subscribed 1.18 times, while the Non-Institutional Investors (NII) portion is booked at 0.38 times, and the retail portion stands at 0.58 times. This indicates a strong interest from institutional investors compared to retail and NII participants.
In terms of financial backing, the IPO has secured ₹45.01 crore from three anchor investors, which adds a layer of confidence to the offering. The grey market premium (GMP) for the IPO is currently at +₹2, suggesting a positive sentiment among traders regarding the stock’s potential performance post-listing. Analysts estimate that the listing price of Om Power Transmission shares could reach ₹177, reflecting a favorable outlook.
SBICAP Securities has provided insights into the valuation of the IPO, stating that at the upper price band of ₹175, the issue is valued at a price-to-earnings (P/E) ratio of 27.1x based on FY25 earnings and 19.2x based on annualized 9MFY26 earnings. This valuation indicates a competitive positioning in the market, especially given the company’s robust financial performance.
According to SBICAP Securities, Om Power Transmission has demonstrated impressive growth metrics, with revenue, EBITDA, and profit after tax (PAT) increasing at compound annual growth rates (CAGRs) of 52%, 73%, and 88%, respectively, reaching ₹279 crore, ₹34 crore, and ₹23 crore between FY23 and FY25. Such growth figures highlight the company’s strong operational capabilities and market demand for its services.
Exencial Research Partners has also weighed in on the investment potential of Om Power Transmission, describing it as a compelling opportunity. The firm notes that the company boasts a robust order book exceeding ₹744 crore, strong return metrics, and an improving financial landscape, which collectively enhance its attractiveness to potential investors.
The basis of allotment for the IPO will be finalized on April 15, 2026, with refunds initiated on April 16, 2026. Shares are expected to be credited to demat accounts on the same day, and the listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is anticipated on April 17, 2026. Observers are keenly watching these developments, as they will provide further clarity on the market’s reception of the IPO.
In summary, the Om Power Transmission IPO is shaping up to be a significant event in the financial markets, with strong institutional backing and positive growth projections. As the subscription period progresses, market participants are advised to consider the long-term outlook, with recommendations suggesting a favorable stance towards the offering.
