Om Power Transmission, a company specializing in engineering, procurement, and construction (EPC) services in power transmission infrastructure, 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 company aims to raise ₹150 crore through this offering, which is expected to bolster its financial standing and support its operational needs.
The IPO has set a price band between ₹166 and ₹175 per equity share, with a minimum lot size of 85 shares. As of Day 2 of the subscription period, the IPO has garnered considerable interest, being subscribed 71% overall. The Qualified Institutional Buyers (QIB) portion has been particularly robust, subscribed 1.18 times, while the Non-Institutional Investors (NII) portion has seen a subscription of 0.38 times, and the retail portion stands at 0.58 times.
In terms of initial financial backing, Om Power Transmission has secured ₹45.01 crore from three anchor investors, including notable entities such as Craft Emerging Market Fund PCC and Morgan Stanley Asia. This early support reflects confidence in the company’s growth trajectory and market position.
As the IPO progresses, the grey market premium (GMP) for the shares has been noted at +₹2, indicating a positive sentiment among investors regarding the potential listing price. Analysts estimate that the shares may list at approximately ₹177, slightly above the upper band of the IPO price. This anticipated listing price is bolstered by the company’s promising financial performance, with revenue, EBITDA, and PAT growing at a compound annual growth rate (CAGR) of 52%, 73%, and 88%, respectively, from FY23 to FY25.
SBICAP Securities has highlighted 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 suggests that the IPO is competitively priced, considering the company’s strong growth metrics and market potential.
Exencial Research Partners has also weighed in, describing Om Power Transmission as a compelling investment opportunity, supported by a robust order book exceeding ₹744 crore and strong return metrics. The positive outlook is further reinforced by the company’s plans to utilize the IPO proceeds for acquiring machinery, paying down debts, and fulfilling working capital needs, which are crucial for sustaining its growth momentum.
Looking ahead, 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, with the official listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) anticipated for April 17, 2026. Investors and market analysts are closely monitoring the subscription trends and initial performance of the shares, as they could set the tone for future IPOs in the sector.
