Omnitech Engineering IPO GMP remains flat ahead of Thursday listing; check details

Omnitech Engineering IPO Allotment Status: A Step-by-Step Guide

The grey market premium (GMP) for Omnitech Engineering's initial public offering (IPO) remained flat ahead of its listing on March 5, Thursday.

Key Highlights of the IPO

• Subscription Status: The Rs 583-crore public issue was subscribed 1.14 times during February 25-27.
• Shares Allotted: Shares were allotted to successful bidders on March 2.
• Allotment Status: Investors can check their allotment status on the official website of the registrar. The status is also available on the websites of National Stock Exchange of India and BSE.

Important IPO Details

• Raising Funds: The company raised over Rs 174 crore from anchor investors.
• Price Band: The price band for the issue was fixed at Rs 216-227 per share, valuing the company at over Rs 2,800 crore.
• Proceeds Utilization: Proceeds from the fresh issue will be used for repayment of debt, setting up two new manufacturing facilities, funding capital expenditure requirements and for general corporate purposes.

About Omnitech Engineering

Omnitech Engineering manufactures high-precision engineered components and supplies to global customers across energy, motion control and automation, industrial equipment systems and other diversified industrial applications.

• Notable Clients: Its clients include Halliburton Energy Services, Suzlon, Oshkosh Aerotech, Weatherford, Lufkin Industries, Oilgear, Donaldson Company, PUSH Industries and Bharat Aerospace Metals.