Om Power Transmission IPO subscribed 47% so far on Day 2: Check price band and lot size

Om Power Transmission IPO: Power transmission infrastructure EPC Om Power Transmission's initial public offering has been subscribed 47% so far on the second day of bidding on Friday, April 10.

It secured bids for 28,09,250 shares as against 60,02,730 shares on offer, according to the consolidated data on the National Stock Exchange (NSE) until 11:20 am.

Retail individual investors (RIIs) subscribed their portion 42%, while non-institutional investors (NIIs) quota was booked 15%. Qualified institutional buyers (QIBs) part received 78% subscription.

The ₹150.06 crore initial public offering consists of fresh issuance of shares amounting to ₹132.56 crore and an offer-for-sale (OFS) component of ₹17.50 crore by promoters Vasantkumar Narayanbhai Patel, Kanubhai Patel and Kalpesh Dhanjibhai Patel.

The net issue proceeds will be used for the following objectives:

• Capital expenditure towards purchase of equipment and machinery
• Repayment of certain outstanding borrowings availed by the company
• Long-term working capital needs
• Corporate general purposes

Om Power Transmission IPO: Price band and lot size

Om Power Transmission has fixed a price band of ₹166 to ₹175 per share for its issue. The minimum application size is one lot, consisting of 85 shares.

Half of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE on April 17.

Beeline Capital Advisors is the issue's merchant banker, while MUFG Intime India serves as registrar.

Om Power Transmission is a power transmission infrastructure EPC company engaged in executing high-voltage and extra-high-voltage transmission lines, underground cabling projects, and substations and providing comprehensive operation and maintenance services.

Om Power Transmission IPO GMP

According to investorgain.com and media reports, unlisted shares of Om Power Transmission Ltd are trading at ₹178.5, reflecting a grey market premium (GMP) of 2% compared to the upper price band of ₹175.