Om Power Transmission's Rs 150.06 crore IPO is in its second day of bidding, with a modest grey market premium of around 2% suggesting a listing slightly above the issue price. The IPO, open until April 13, saw 39% subscription on Day 1, with retail investors showing 30% uptake.

Om Power Transmission IPO Day 2: GMP at 2%; subscription and key details

Om Power Transmission’s Rs 150.06 crore IPO has entered its second day of bidding. In the grey market, the premium has eased to around 2%, down from earlier levels of 4%, indicating a modest listing above the issue price of Rs 175, with an expected debut around Rs 178–179.

On Day 1, the IPO was subscribed 39% against the 60.02 lakh shares on offer. The retail segment performed slightly better, seeing a 30% subscription. The issue will remain open for bidding until Monday, April 13.

The Rs 150 crore IPO consists of a fresh issue worth Rs 133 crore and an offer for sale (OFS) of Rs 17 crore. The shares are slated to list on the BSE and NSE on April 17.

Retail investors can bid for a minimum of 85 shares, requiring an investment of Rs 14,875 at the upper price band. The allocation structure reserves up to 50% for qualified institutional buyers (QIBs), at least 35% for retail investors, and 15% for non-institutional investors.

The company raised Rs 45 crore from anchor investors on April 8, reflecting some institutional interest, although grey market trends suggest muted sentiment in the secondary market.

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Om Power Transmission IPO subscription status

As per BSE data, on Day 1, the IPO was subscribed 39% overall against the 60.02 lakh shares on offer.

Retail Individual Investors (RIIs): Subscribed 30% on 30.01 lakh shares

Non-Institutional Investors (NIIs): Subscribed 11% on 12.86 lakh shares

Qualified Institutional Buyers (QIBs): Bid for 78% of 17.15 lakh shares

Om Power TransmissionGMP today:

The IPO’s grey market premium (GMP) today stands at around 2%, down from earlier levels of 4%. This indicates a modest expected listing above the issue price of Rs 175, with a projected listing range of approximately Rs 178–179. Note: The Grey Market Premium is an unofficial indicator and should not be considered a guarantee of the actual listing price.

Om Power Transmission Company Overview

Om Power Transmission is an Engineering, Procurement, and Construction (EPC) company focused on power transmission infrastructure. It operates across high-voltage and extra-high-voltage transmission lines, substations, and underground cabling, along with offering operation and maintenance services. The company has executed projects for both government utilities and private-sector clients.

As of December 2025, the company’s order book stood at approximately Rs 744 crore across 58 projects, reflecting strong revenue visibility. It also manages and maintains 124 substations, indicating a well-diversified operational footprint.

Financially, the company has demonstrated steady growth. For the nine months ended December 2025, it reported revenue of Rs 276 crore and a profit after tax (PAT) of Rs 23 crore. Margins have remained stable, with an EBITDA margin of about 12.4% and a PAT margin of 8.45%.

The IPO proceeds are intended to support business expansion and strengthen the balance sheet, with Rs 55 crore allocated for working capital, Rs 25 crore for debt repayment, and Rs 11 crore earmarked for capital expenditure.

Beeline Capital Advisors Pvt. Ltd. is acting as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is serving as the registrar.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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