Om Power Transmission share price: Stock lists at over 6% premium on NSE; here's how much investors made per lot

This reflects a premium of 6.29% from issue price of ₹175 per share.

On the BSE, the stock started trading at ₹181.10 per unit, up 3.49% from the issue price.

Om Power Transmission share price: Here's how much investors made per lot

The initial public offering aimed to raise ₹150.06 crore by offering 75.75 lakh new shares aggregating to ₹132.56 crore and an offer for sale (OFS) of ₹17.50 crore by promoters Vasantkumar Narayanbhai Patel, Kanubhai Patel and Kalpesh Dhanjibhai Patel.

The objectives of the issue include purchase of machinery and equipment, debt repayment, 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).

The initial share sale was subscribed 3.33 times, as it got bids for 1,99,71,260 shares compared to 60,02,730 shares on offer, according to the NSE data.

Om Power Transmission operates as an engineering procurement and construction (EPC) contractor in the power distribution sector. It is involved in the execution of extra-high-voltage and high-voltage transmission lines, substations and underground cabling projects on a turnkey basis, ranging from design, engineering, erection, to commissioning and operation and maintenance services.