Omnitech Engineering IPO sets price band at ₹216 to ₹227 per share; check lot size, key dates and more

Omnitech Engineering IPO: Precision-engineered components manufacturer Omnitech Engineering has fixed a price band of ₹216 to ₹227 per share for its initial public offering, which will be open from February 25 to February 27. The bidding for anchor investors will take place on February 24.

The ₹583 crore initial share sale is a mix of new equity shares valued at ₹418 crore and an offer for sale (OFS) of ₹165 crore by promoter Udaykumar Arunkumar Parekh.

Proceeds from the fresh issue will be used to clear debt, set up two new manufacturing units, fund capital expenditure needs and general corporate purposes.

"In addition, our company expects to receive the benefits of listing of the equity shares on the stock exchanges and enhancement of our company’s visibility and brand image amongst our existing and potential customers and creation of a public market for our equity shares in India," Omnitech Engineering said in its red herring prospectus (RHP).

Omnitech Engineering IPO lot size

The minimum investment for a retail investor is one lot or 66 shares. The company has set aside 50% of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Equirus Capital and ICICI Securities are the issue's merchant bankers, while MUFG Intime India serves as the registrar.

Omnitech Engineering IPO: Allotment and listing date

• Subscription period: February 25 to February 27
• Allotment: March 2
• Refund initiation: March 4
• Credit to Demat account: March 4
• Listing on NSE and BSE: March 5

Omnitech Engineering makes high-precision engineered components and supplies to customers worldwide across industries like energy, industrial equipment systems, motion control & automation, and other diversified industrial applications.

Its clientele includes Suzlon, Oshkosh Aerotech, Weatherford, Halliburton Energy Services, Lufkin Industries, Donaldson Company, PUSH Industries, Bharat Aerospace Metals and Oilgear.

Omnitech Engineering IPO GMP

According to investorgain.com and media reports, Omnitech Engineering's unlisted shares are trading at ₹240, reflecting a grey market premium (GMP) of 5.73% over the upper price band of ₹227.