Om Power Transmission's Rs 150 crore IPO is nearing its close, with an 81% subscription rate. While retail investors show steady interest, grey market premiums suggest a modest listing gain. The company, an EPC firm in power transmission, aims to use IPO funds for expansion and debt reduction, boasting a strong order book.

Om Power Transmission IPO Day 3: Subscribed over 80%; GMP and key details

Synopsis

Om Power Transmission's Rs 150 crore IPO is nearing its close, with an 81% subscription rate. While retail investors show steady interest, grey market premiums suggest a modest listing gain. The company, an EPC firm in power transmission, aims to use IPO funds for expansion and debt reduction, boasting a strong order book.

Om Power Transmission’s Rs 150.06 crore IPO has entered its third and final day of bidding, with overall subscription reaching 81% against 60.02 lakh shares on offer. The retail portion has been subscribed 74% so far.

In the grey market, the premium has eased to around 1%, down from an earlier 2%, suggesting a modest listing gain. The expected listing price is around Rs 176–177 compared to the issue price of Rs 175.

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

Retail investors can apply for a minimum of 85 shares, which translates to an investment of Rs 14,875 at the upper price band. The IPO allotment is structured with up to 50% reserved 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

On Day 3 at 10:45 am, the Om Power Transmission IPO was subscribed 81% overall, against a total offer of 60.02 lakh shares, according to BSE data.

Among investor categories, Retail Individual Investors (RIIs) showed steady participation, subscribing 74% of their allotted 30.01 lakh shares. Non-Institutional Investors (NIIs), which typically include high-net-worth individuals and corporates, subscribed 49% of the 12.86 lakh shares reserved for them, indicating relatively moderate demand in this segment.

In contrast, Qualified Institutional Buyers (QIBs), which include mutual funds, banks, and large financial institutions, showed strong interest; their portion oversubscribed at 1.18 times the 17.15 lakh shares on offer.

Om Power Transmission GMP today

In the grey market, the premium has softened to about 1%, down from 2% earlier, indicating a modest listing gain. The expected listing price is in the range of Rs 176–177, compared with the issue price of Rs 175.

It is important to remember that the grey market premium is an unofficial and unregulated indicator and does not necessarily reflect or guarantee the stock’s actual listing performance.

Om Power Transmission Company Overview

Om Power Transmission is an Engineering, Procurement, and Construction (EPC) company specializing in power transmission infrastructure. Its capabilities span high-voltage and extra-high-voltage transmission lines, substations, and underground cabling, in addition to providing operation and maintenance services. The company has delivered projects for both government utilities and private-sector clients.

As of December 2025, it reported an order book of about Rs 744 crore across 58 projects, indicating strong visibility into future revenues. It also operates and maintains 124 substations, underscoring a broad and diversified operational presence.

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% and a PAT margin of 8%.

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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