Om Power Transmission Lists at Six Per Cent Premium
POWER & RENEWABLE ENERGY

Om Power Transmission Lists at Six Per Cent Premium

Shares of Om Power Transmission made a positive debut on the National Stock Exchange, listing at Rs 186 per share on Friday and reflecting a premium of Rs 11 or six point three per cent over the issue price of Rs 175 per share. The stock advanced further in early trade and touched a high of Rs 193, representing an increase of nearly four per cent from the issue price. Market participants described the initial momentum as constructive for the companys public market entry.

On the Bombay Stock Exchange the shares began trading at Rs 181.10 apiece, up Rs 6 or three point five per cent, and the listing outcome outperformed grey market expectations. Unlisted shares had been quoted at Rs 177 apiece, implying a grey market premium of one point one per cent, according to observers who track unofficial activity. The stronger listing relative to grey market indications suggested firmer demand on listing day.

The initial public offering raised Rs one point five billion (bn) and comprised a book-built fresh issue of seven point six million (mn) equity shares aggregating to Rs 1.3256 bn alongside an offer for sale of one million shares worth Rs 175 mn by promoter shareholders. The issue had been priced in the band of Rs 166 to Rs 175 per share with a lot size of 85 shares and attracted bids for 19.97 million shares against six million shares on offer, resulting in an overall subscription of 3.33 times. Demand was led by non-institutional investors, who subscribed their tranche 7.06 times, with qualified institutional buyers subscribing 3.65 times and retail investors 1.54 times.

The basis of allotment was finalised on Wednesday, April 15, and the company fixed the issue price at Rs 175 per share. MUFG Intime India acted as registrar and Beeline Capital Advisors served as sole book-running lead manager for the offering.

The red herring prospectus indicated that the company planned to allocate Rs 112 mn from net proceeds for capital expenditure on machinery and equipment, Rs 250 mn for repayment of debt and Rs 550 mn for long-term working capital, with remaining funds earmarked for general corporate purposes. The prospectus further clarified that proceeds from the offer for sale would accrue to the selling promoters and would not form part of the companys net proceeds.

Shares of Om Power Transmission made a positive debut on the National Stock Exchange, listing at Rs 186 per share on Friday and reflecting a premium of Rs 11 or six point three per cent over the issue price of Rs 175 per share. The stock advanced further in early trade and touched a high of Rs 193, representing an increase of nearly four per cent from the issue price. Market participants described the initial momentum as constructive for the companys public market entry. On the Bombay Stock Exchange the shares began trading at Rs 181.10 apiece, up Rs 6 or three point five per cent, and the listing outcome outperformed grey market expectations. Unlisted shares had been quoted at Rs 177 apiece, implying a grey market premium of one point one per cent, according to observers who track unofficial activity. The stronger listing relative to grey market indications suggested firmer demand on listing day. The initial public offering raised Rs one point five billion (bn) and comprised a book-built fresh issue of seven point six million (mn) equity shares aggregating to Rs 1.3256 bn alongside an offer for sale of one million shares worth Rs 175 mn by promoter shareholders. The issue had been priced in the band of Rs 166 to Rs 175 per share with a lot size of 85 shares and attracted bids for 19.97 million shares against six million shares on offer, resulting in an overall subscription of 3.33 times. Demand was led by non-institutional investors, who subscribed their tranche 7.06 times, with qualified institutional buyers subscribing 3.65 times and retail investors 1.54 times. The basis of allotment was finalised on Wednesday, April 15, and the company fixed the issue price at Rs 175 per share. MUFG Intime India acted as registrar and Beeline Capital Advisors served as sole book-running lead manager for the offering. The red herring prospectus indicated that the company planned to allocate Rs 112 mn from net proceeds for capital expenditure on machinery and equipment, Rs 250 mn for repayment of debt and Rs 550 mn for long-term working capital, with remaining funds earmarked for general corporate purposes. The prospectus further clarified that proceeds from the offer for sale would accrue to the selling promoters and would not form part of the companys net proceeds.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Jammu Division Records Highest Punctuality of 94.12%

The Jammu Division of Northern Railway (Jammu Division) set a new benchmark in operational efficiency when it achieved a single-day punctuality rate of 94.12 per cent for Mail and Express trains on July 31. This performance is the highest recorded in the division's history and surpasses the previous best of 92.59 per cent achieved on February 20, 2025. The official communique indicated that the figure represents a significant improvement in on-time arrivals and departures across the network. Railway officials attributed the outcome to meticulous planning and effective coordination between grou..

Next Story
Infrastructure Transport

Tinaighat-Kulem Rail Doubling Threatens Forest Biodiversity

A peer-reviewed study by 20 scientists has challenged the cumulative environmental impact assessment prepared by the Wildlife Institute of India for the proposed doubling of the Tinaighat-Kulem railway line in Karnataka and Goa. The study says the assessment overlooks biodiversity and ecological impacts across one of the region's most sensitive forest landscapes. The authors describe the matter as urgent given the scale of planned infrastructure. The review was published in the Journal of Threatened Taxa and was carried out by a multidisciplinary team of ecologists, social scientists, conserva..

Next Story
Infrastructure Transport

CONCOR Launches Ennore to Hyderabad Rail Freight Service

Container Corporation of India (CONCOR) has commenced a new rail freight service that links Ennore Port, part of the Kamarajar Port cluster in Chennai, with ICD Sanathnagar in Hyderabad. The new corridor provides containerised cargo movement directly between the eastern gateway port and a major inland logistics hub in the Deccan plateau. CONCOR positioned the launch as an expansion of its multi-modal offerings to trade and industry in Telangana and neighbouring regions. The service connects the port cluster through intermediate logistics nodes and establishes a dedicated rail corridor for expo..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement