Omnitech Engineering IPO Allotment Today: GMP Indicated Loss At Listing; Check Status Online

Omnitech Engineering initial public offering (IPO) shares are expected to be allotted on March 2. The public issue of the engineering and manufacturing solutions provider saw firm demand in the primary market, largely from qualified institutional buyers (QIBs) and employees of the company. By the end of the issue window, investors across different classes had booked 1.14 times the total shares offered. Investors applied for 21.63 million shares compared to around 18.91 million shares on offer. Employees booked 4.25 times the 48,780 shares allotted for them, who were offered a Rs 11 discount per share applied for compared to the issue price. QIBs booked 2.86 times the shares allotted for them. Mutual funds were the most who applied for the issue, subscribing for 11.73 million shares, out of the total 15.39 million shares applied for by QIBs. Non-institutional investors (NIIs) subscribed to 73 per cent of their quota, applying for 2.95 million shares. Meanwhile, retail individual investors applied for nearly 3.08 million shares, 33 per cent of their quota. Omnitech Engineering IPO Listing Date, Timeline The subscription window for Omnitech Engineering was open from February 25 to February 27. Investors who were successful in their bidding will be allotted their shares on March 2. The successful bidders will receive the shares according to the allotment on March 3. Investors who were not successful in their bidding will also receive the funds directly into their bank accounts on the same date. Shares of Omnitech Engineering are set to be listed on the NSE and BSE on March 5, with March 5 being a market holiday due to Holi. Omnitech Engineering IPO: Price Band, GMP Omnitech Engineering set a price band of Rs. 216-227 a piece at the issue in the primary market. The minimum lot size to apply to the issue was 66 shares. For retail investors, the minimum investment amount was Rs. 14,982 based on the upper end of the price band. According to multiple websites, the latest grey market premium (GMP) of the shares of Omnitech Engineering was at Rs. 222. The GMP indicated a loss at listing, being Rs. 5 lower than the upper end of the price band at issue. Omnitech Engineering IPO Allotment: How to Check Status Online Investors who applied for the issue can check the allotment status online through the websites of the stock exchanges as well as on the registrar’s website.