Om Power Transmission IPO subscribed 46% on day 2 morning

Om Power Transmission Ltd’s IPO has received bids for 27.82 lakh shares against the total issue size of 60.03 lakh shares as of 11.06 AM on Friday, the second of three subscription days. This translates to an overall subscription of 0.46 times.

The retail individual investor (RII) category leads with 0.42 times subscription, with bids received for 12.48 lakh shares against 30.01 lakh shares reserved. Qualified institutional buyers (QIBs) have bid for 13.37 lakh shares against 17.15 lakh shares reserved, clocking 0.78 times — the strongest showing across categories so far. Foreign institutional investors account for the bulk of QIB interest at 11.43 lakh shares. The non-institutional investor (NII) category remains the weakest, subscribed at just 0.15 times, with bids for 1.97 lakh shares against 12.86 lakh shares on offer.

The IPO, priced at ₹166–175 per share, aims to raise ₹150 crore at the upper band through a combination of a fresh issue of 75.75 lakh shares and an offer for sale of 10 lakh shares by three promoters. Proceeds from the fresh issue are earmarked for long-term working capital (₹55 crore), debt repayment (₹25 crore), and machinery purchase (₹11.2 crore).

The Ahmedabad-based power transmission EPC company reported revenue of ₹279 crore in FY25, growing at a CAGR of 52 per cent between FY23 and FY25. Its unexecuted order book stood at ₹744.6 crore as of December 2025, with a book-to-bill ratio of 2.7 times. SBI Securities has recommended subscribing for the long term, citing the issue’s valuation at 19.2 times annualised 9MFY26 earnings at the upper price band.

The IPO closes on April 13, 2026.

Published on April 10, 2026