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18 Apr, 2026
Om Power Transmission IPO
Om Power Transmission IPO Overview
The Om Power Transmission IPO is a book-built issue comprising a total of 85.75 lakh equity shares worth up to ₹150 crore, including a fresh issue of up to 75.75 lakh equity shares worth up to ₹133 crore and an offer for sale (OFS) of up to 10 lakh equity shares worth up to ₹18 crore, with the face value of ₹10 for each share. The company filed its DRHP with SEBI on Sep 30, 2025.
The price band of this issue is set at ₹166 to ₹175 per share and the lot size for an application is 85 shares. The minimum amount of investment required by an individual investor (retail investor) is ₹14,875. The IPO opens for subscription from April 9 to 13, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as April 17, 2026. The book running lead manager (BRLM) of this issue is Beeline Capital Advisors Private Ltd. and the registrar to the issue is MUFG Intime India Private Ltd.
Om Power Transmission IPO Date & Timeline
The Om Power Transmission IPO is officially set to open for subscription on Apr 9, 2026 and will close on Apr 13, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on Sep 30, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window closes, the basis for allotment is expected to be finalised on April 15, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Apr 16, 2026. Finally, the shares of Om Power Transmission Ltd. are tentatively scheduled to list on the stock exchanges on Apr 17, 2026.
Om Power Transmission IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Om Power Transmission IPO GMP is currently trading at ₹2.5, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹177.5, which is 1.43% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Om Power Transmission Ltd. was originally incorporated on June 29, 2011. It commenced operations in the State of Gujarat and has since evolved into a specialized EPC contractor. In September 2025, it was converted into a public limited company to facilitate the Om Power Transmission IPO.
The headquarters of the company is in Ahmedabad, Gujarat, where it established itself over the last 14 years as a key player in the regional power transmission sector. Om Power Transmission has seen a journey from entering the market as a private equity to scaling execution capabilities to handle complex high-voltage projects, primarily serving state utilities and private developers.
Operations & Product Range
Om Power Transmission Ltd. functions as a one-stop solution provider in the power transmission infrastructure development area. The main business activities are:
- • Execution of High Voltage (HV) and Extra High Voltage (EHV) transmission lines ranging from 11 kV to 400 kV.
- • Setting up substations with capacities ranging from 66 kV to 220 kV, including Air Insulated Substations (AIS) and Gas Insulated Substations (GIS).
- • Trenching, laying and termination of underground cables for HT and LT power systems.
- • Providing long-term maintenance services for substations and transmission lines to ensure grid reliability.
Facilities & Capacity
The operational presence of Om Power Transmission Ltd. has always been in the State of Gujarat, where it has delivered more than 100 projects since its inception, but now it is expanding its presence by winning projects in the states of Rajasthan and Punjab, which marks its entry into North India.
As of August 31, 2025, the company has an unexecuted order book of ₹77,619.35 lakhs, consisting of 56 projects. To facilitate this, the IPO amount will be utilized for purchasing machinery such as digital pullers, tensioners and cranes.
Brands & Market Presence
Om Power Transmission Ltd. functions under its corporate brand and has established a strong market presence in Western India, particularly in the state of Gujarat, where it is registered as a Class ‘AA’ contractor with the Gujarat Energy Transmission Corporation Ltd. (GETCO); this enables it to undertake transmission lines up to 400 kV and substations up to 220 kV.
The company is recognized for its execution strengths and has won an award for the “Best EPC Company” during the period 2015-17 at the Vendor Conference of GETCO. The company is certified in ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018.
Revenue Streams & Business Model
The source of revenue for Om Power Transmission Ltd. is diversified, such as underground cabling projects (28.47%), operation and maintenance (11.20%), transmission line EPC projects (51.77%) and substation EPC projects (8.32%), of which the major source of revenue was from Gujarat. In the Fiscal Year 2025, the revenue from operations was ₹27,943.51 lakhs.
However, the business model is experiencing a shift to include revenue generation from new projects in Rajasthan and Punjab. The company derives revenue from a combination of government tenders (PSUs) and private sector orders.
Management & Shareholding
Om Power Transmission Ltd. is led by its promoters: Kalpesh Dhanjibhai Patel, Kanubhai Patel and Vasantkumar Narayanbhai Patel. Before the IPO, the promoters collectively held 92.24% of the paid-up equity share capital, but after the IPO, the shareholding of the promoters will be diluted due to both the fresh issue of shares to the public and the sale of a portion of their existing holdings.
Board & Key Management
The Board of Om Power Transmission Ltd. monitors the strategic supervision, headed by Chairman Kalpesh Dhanjibhai Patel, Managing Director Kanubhai Patel and Whole-Time Director Vasantkumar Narayanbhai Patel. In order to ensure effective corporate governance, the board comprises independent directors Anand Mohan Tiwari, Alpesh Dharamsinh Desai, Ishvarlal Mafatlal Bhavsar and Shikha Agarwal, who maintain a high level of transparency and management accountability.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Om Power Transmission IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2026-04-14 | 175.00 | 2.5 | 2026-04-14 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Om Power Transmission IPO Details
| Detail | Description |
|---|---|
| IPO Date | 9 to 13 Apr, 2026 |
| Listing Date | Fri, Apr 17, 2026 |
| Face Value | ₹10 per Equity Share |
| Issue Price Band | ₹166 to ₹175 |
| Lot Size | 85 Shares |
| IPO Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | 85,75,000 shares (agg. up to ₹150 Cr) |
| Fresh Issue(Ex Market Maker) | 75,75,000 shares (agg. up to ₹133 Cr) |
| Offer for Sale | 10,00,000 shares of ₹10 (agg. up to ₹18 Cr) |
| Issue Type | 100% Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 2,66,70,000 shares |
| Share Holding Post Issue | 3,42,45,000 shares |
Om Power Transmission IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Thu, Apr 9, 2026 |
| IPO Close Date | Mon, Apr 13, 2026 |
| Tentative Allotment | Wed, Apr 15, 2026 |
| Initiation of Refunds | Thu, Apr 16, 2026 |
| Credit of Shares to Demat | Thu, Apr 16, 2026 |
| Tentative Listing Date | Fri, Apr 17, 2026 |
| Cut-off time for UPI mandate confirmation | 5:00 PM on the Bid/Offer Closing Date |
Om Power Transmission IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 85 | ₹14,875 |
| Individual investors (Retail) (Max) | 13 | 1,105 | ₹1,93,375 |
| S-HNI (Min) | 14 | 1,190 | ₹2,08,250 |
| S-HNI (Max) | 67 | 5,695 | ₹9,96,625 |
| B-HNI (Min) | 68 | 5,780 | ₹10,11,500 |
Om Power Transmission IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 92.26% |
| Promoter Holding Post Issue | 68.92% |
Competitive Strength:
- • More than 14 years of experience, with the commissioning of over 1,000 circuit kilometers of transmission lines and several substations, which is an indication of strong project execution abilities.
- • Diversified order book in transmission lines, substations and O&M business, which gives a clear indication of revenue visibility.
- • The promoters have been associated with the company since its inception, which gives them strong domain knowledge of the power transmission business.
- • Provides a one-stop solution for all its services, including underground cabling and O&M, which helps the company tap a larger part of the value chain.
Om Power Transmission IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2025 | 240.06 | 276.50 | 23.37 | 119.84 | 93.17 | 38.47 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 150.17 | 281.65 | 22.08 | 72.65 | 72.05 | 18.90 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 117.85 | 184.39 | 7.41 | 50.64 | 50.04 | 26.23 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 105.14 | 121.71 | 6.23 | 43.36 | 42.76 | 25.57 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 24.28 |
| ROCE | 26.53 |
| Debt/Equity | 0.32 |
| RoNW | 19.50 |
| PAT Margin | 8.45% |
| EBITDA Margin | 12.38% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.28 | 9.10 |
| P/E (x) | 21.13 | 19.23 |
IPO Objectives
The company intends to utilise the net proceeds from the fresh issue of the Om Power Transmission IPO for the following specific purposes:
- • Funding working capital to meet the long-term requirements essential for executing its growing order book.
- • Repayment of debt (in part or in full) to strengthen the financial statements.
- • Investment in purchasing machinery and equipment to enhance execution capabilities.
- • General Corporate Purposes.
Om Power Transmission IPO Review
Om Power Transmission Ltd. operates in the power transmission EPC segment, focusing on high-voltage and extra-high-voltage (EHV) infrastructure projects, including substations and cabling. The company benefits from ongoing investments in India’s power infrastructure and maintains a diversified order book across multiple projects, reflecting execution visibility in a competitive yet opportunity-rich sector.
Financially, the company has demonstrated steady growth, with revenue rising to around ₹281 crore in FY25 and stable profitability with a PAT of about ₹22 crore. Margins remain moderate, typical of EPC businesses, while return ratios such as ROE and ROCE indicate efficient capital utilisation despite a working-capital-intensive model.
Key strengths include its established EPC capabilities, healthy order backlog and improving net worth. However, DRHP highlights typical sectoral risks such as dependence on project execution, working capital requirements and exposure to delays or cost overruns. Additionally, promoters may monitor a portion of the issue that includes an offer for sale.
Overall, the IPO offers a combination of growth opportunities driven by execution and risks related to the EPC sector, making it a business that fits with infrastructure growth but is affected by how well it operates and the timing of projects.
Conclusion
The Om Power Transmission IPO offers the company a chance to improve its balance sheet and expand its operations beyond its home state of Gujarat. After establishing a strong base in the EPC business, with an increasing order book of over ₹77,000 crores and a transition to more profitable business segments such as underground cabling, the company is now gearing up to capitalise on the infrastructure development in India. Through this IPO, they also intend to improve their tendering capabilities for bigger projects and thus contribute to the development of the power transmission sector in the country.
RHP:
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Read More IPO ReviewsFrequently Asked Questions (FAQs)
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What is the total size of the Om Power Transmission IPO?
The IPO consists of a total offering of 85.75 lakh equity shares worth up to ₹150 crore, including a fresh issue of 75.75 lakh equity shares worth up to ₹133 crore and an offer for sale (OFS) of 10 lakh equity shares worth up to ₹18 crore.
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Who are the book-running lead managers for the Om Power Transmission IPO?
Beeline Capital Advisors Private Ltd. is the book-running lead manager for the issue.
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What does Om Power Transmission Ltd. do?
The company provides Engineering, Procurement and Construction (EPC) services for power transmission lines, substations and underground cabling, along with Operation & Maintenance (O&M) services.
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How will the proceeds from the Om Power Transmission IPO be used?
The net proceeds will be used to fund long-term working capital, repay outstanding borrowings, purchase machinery and equipment and for general corporate purposes.
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Is the Om Power Transmission IPO a fresh issue or an offer for sale?
This IPO is a mix of both a fresh issue of 75.75 lakh equity shares and an offer for sale (OFS) of 10 lakh equity shares.
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Where is Om Power Transmission Ltd. headquartered?
The company is headquartered in Ahmedabad, Gujarat.
