Om Power Transmission IPO Day 2: Check subscription, GMP trends and other key details

Om Power Transmission's IPO enters Day 2 of subscription today, April 10, 2026, after witnessing a steady start on the opening day.

The public issue, which opened on April 9, will remain available for bidding until April 13.

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On Day 1, the IPO was subscribed 39% overall, led by strong participation from Qualified Institutional Buyers (QIBs), whose portion was booked 0.78 times (78%). Retail Individual Investors (RIIs) showed moderate interest with 0.30 times (30%) subscription, while Non-Institutional Investors (NIIs) lagged at 0.11 times (11%).

Anchor investors participation

Ahead of the issue opening, the company raised Rs 45.01 crore from anchor investors. Mauritius-based Craft Emerging Market Fund PCC, via its Elite Capital Fund and Citadel Capital Fund, picked up 16.57 lakh shares worth over Rs 29 crore. Morgan Stanley Asia (Singapore) acquired 5.71 lakh shares for Rs 10 crore, while Sunrise Investment Trust bought 3.43 lakh shares valued at Rs 6.01 crore.

Company profile and peers

Om Power Transmission operates in the engineering, procurement and construction (EPC) segment, focusing on power transmission infrastructure, and has over 14 years of experience in the sector.

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As per its red herring prospectus (RHP), its listed peers include Rajesh Power Services Ltd (P/E of 16.38), Advait Energy Transitions Ltd (P/E of 57.52), and Viviana Power Tech Ltd (P/E of 25.15).

The IPO allocation structure earmarks up to 50% of the issue for QIBs, at least 15% for NIIs, and a minimum of 35% for retail investors.

GMP and listing expectations

In the grey market, the GMP stood at Rs 3.5 as of April 10. Based on the upper price band of Rs 175, the estimated listing price is around Rs 178.5, indicating a modest potential gain of about 2%.

Key dates

The basis of allotment is likely to be finalised on April 15. Refunds are expected to be initiated on April 16, with shares credited to demat accounts on the same day. The stock is tentatively scheduled to list on the BSE and NSE on April 17.