Omnitech Engineering IPO GMP Today: Omnitech Engineering has set a price band of Rs 216–227 for its Rs 583 crore IPO. The issue opens on February 25 and closes on February 27, with listing scheduled for March 5.

Omnitech Engineering IPO: Subscription to begin on February 25, check price band, GMP and other details

Omnitech Engineering Fixes Price Band for Rs 583 Crore IPO

Mumbai: Omnitech Engineering, a leading manufacturer of precision-engineered components, has set a price band of Rs 216–227 per share for its upcoming Initial Public Offering (IPO) worth Rs 583 crore.

IPO Structure and Utilization of Proceeds

The IPO comprises a fresh issue of equity shares worth up to Rs 418 crore.
An offer for sale (OFS) of equity shares valued at Rs 165 crore by promoter Udaykumar Arunkumar Parekh.

The proceeds from the fresh issue will be utilized to repay debt, set up two new manufacturing facilities, fund capital expenditure requirements, and meet general corporate purposes.

Business Profile and Clientele

Omnitech Engineering manufactures high-precision engineered components and supplies them to global customers across industries such as:

Energy
Motion Control and Automation
Industrial Equipment Systems
Other Diversified Industrial Applications

Its clientele includes:

Halliburton Energy Services
Suzlon Energy
Oshkosh Aerotech
Weatherford International
Lufkin Industries
Oilgear
Donaldson Company
PUSH Industries
Bharat Aerospace Metals

Omnitech Engineering IPO GMP

Omnitech Engineering's unlisted shares are trading at a grey market premium (GMP) of Rs 13, considering the upper price band of Rs 227, the company's shares are expected to list at around Rs 240, reflecting a grey market premium of 5.73 per cent.