Om Power Transmission IPO opens April 9: Check price band, lot size, key dates and more

Om Power Transmission IPO: The initial public offering of Om Power Transmission, a leading power transmission infrastructure EPC player, will open for subscription on April 9. The issue will conclude on April 13. The price band has been fixed at ₹166 to ₹175 per share.

The ₹150.06 crore initial share sale consists of new equity shares aggregating to ₹132.56 crore and an offer for sale (OFS) component of ₹17.50 crore.

Under the OFS, promoters Kalpesh Dhanjibhai Patel, Kanubhai Patel and Vasantkumar Narayanbhai Patel will offload their stake.

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

• Capital expenditure needs for purchase of machinery and equipment
• Repayment of certain outstanding borrowings
• Long term working capital requirements
• 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 firm said in its red herring prospectus (RHP).

Om Power Transmission IPO: Lot size

A lot consists of 85 shares and multiples thereafter. Half of the net offer has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors (NIIs).

Om Power Transmission IPO: Allotment and listing date

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

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

Om Power Transmission is a power transmission infrastructure engineering, procurement, and construction company. It holds a specialisation in the execution of extra-high-voltage and high-voltage transmission lines, substations and underground cabling projects on a turnkey basis.