Stock lists at 6% premium over IPO price on NSE

Om Power Transmission shares made a decent market debut on Friday to list at more than 6 percent premium over its initial public offer (IPO) price. The issue was open for public suscription in the primary market between April 9-13, and was subscribed 3.33 times.

Shares of Om Power Transmission were listed at Rs 186 per share on the National Stock Exchange (NSE), a healthy premium of 6.29 percent. The Rs 150-crore issue had a price band of Rs 166-175 per share.

On the BSE, the shares of the company were listed at Rs 181.10 per share, a premium of 3.49 percent. The company's market capitalisation post listing of shares stood at Rs 620.18 crore.

Om Power Transmission market debut was better than the expectations in the grey market, which had estimated a listing gain of up to 1 percent.

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The category for non-institutional investors fetched 7.06 times subscription. The quota for qualified institutional buyers (QIBs) received 3.65 times subscription and the portion meant for retail individual investors (RIIs) got subscribed 1.54 times.