Om Power Transmission IPO Day 1: Check subscription status, price band, lot size and key dates

Om Power Transmission IPO: The initial public offering of power transmission infrastructure EPC company Om Power Transmission opened for subscription on Thursday, April 9. The issue will end on April 13. The price band has been fixed at ₹166 to ₹175 per share, and a lot consists of 85 shares.

The initial share sale seeks to raise ₹150.06 crore by offering new shares valued at ₹132.56 crore and an offer for sale (OFS) of ₹17.50 crore by promoters Kalpesh Dhanjibhai Patel, Kanubhai Patel and Vasantkumar Narayanbhai Patel.

The fresh funds generated will be used for capital expenditure requirements, repayment of certain outstanding borrowings, long-term working capital requirements and general corporate purposes.

"We expect to receive the benefits of listing of the equity shares on the stock exchanges, which include enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India, among others," the company said in its red herring prospectus (RHP).

Om Power Transmission IPO Day 1: Subscription status

The subscription details for the first day of bidding will be available post 10 am.

Before the IPO, the company raised ₹45.01 crore from anchor investors, including Morgan Stanley Asia (Singapore) Pte, Craft Emerging Market Fund PCC- Elite Capital Fund, Craft Emerging Market Fund PCC-Citadel Capital Fund and Sunrise Investment Trust- Sunrise Investment Opportunities Fund.

Om Power Transmission IPO: Allotment and listing date

• Subscription period: April 9 to April 13
• Allotment finalisation: April 15
• Refund initiation: April 16
• Credit of shares to Demat account: April 16
• Listing on NSE and BSE: April 17

Om Power Transmission is an engineering procurement and construction (EPC) contractor in the power distribution sector. It holds expertise in the execution of high-voltage and extra-high-voltage transmission lines, substations and underground cabling projects on a turnkey basis, including design, engineering, erection, installation, testing, commissioning, and operation and maintenance services.

Om Power Transmission IPO GMP today

According to investorgain.com and media reports, unlisted shares of Om Power Transmission Ltd are trading at ₹182, reflecting a grey market premium (GMP) of 4% compared to the upper price band of ₹175.