Om Power Transmission IPO Launch: Key Details and Market Insights
Om Power Transmission IPO opens tomorrow: GMP, issue details, 10 key things to know
Mint
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The Om Power Transmission initial public offering (IPO) opens for subscription on April 9, 2023, aiming to raise ₹150 crore (approximately $18 million USD). The IPO's price band is set between ₹166 and ₹175 per share, with a grey market premium indicating a potential listing price of ₹176.5.
- 01Om Power Transmission IPO opens on April 9, 2023.
- 02The IPO aims to raise ₹150 crore (approximately $18 million USD).
- 03Price band set between ₹166 and ₹175 per share.
- 04Estimated listing price around ₹176.5 based on grey market premium.
- 05Funds will be used for machinery purchases, debt repayment, and working capital.
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The Om Power Transmission initial public offering (IPO) is set to open for subscription on April 9, 2023, and will close on April 13, 2023. The company, based in Ahmedabad, specializes in engineering, procurement, and construction (EPC) services for power transmission infrastructure, and is looking to raise ₹150 crore (approximately $18 million USD) through this offering. The IPO price band is fixed between ₹166 and ₹175 per equity share, with a grey market premium suggesting a potential listing price of ₹176.5 per share, indicating a 0.86% increase over the IPO price. The offering includes 85.75 lakh shares, with 75.75 lakh being fresh issuances and 10 lakh shares sold by promoters. The proceeds will be utilized for purchasing machinery, settling debts, and enhancing working capital. The basis of allotment will be finalized on April 15, with shares expected to be credited to demat accounts by April 16, and listing on the BSE and NSE anticipated on April 17. The IPO has allocated shares for various investor categories, including 50% for qualified institutional buyers (QIB), 15% for non-institutional investors, and 35% for retail investors.
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The IPO provides an opportunity for retail investors to participate in the power transmission sector, potentially leading to increased investment in infrastructure.
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