- Key IPO Details
- Subscription Breakdown
- GMP Trend
- Valuation and Key Facts
- Listing Expectation
- Conclusion
Om Power Transmission IPO enters its final phase with GMP at ₹2 and total subscription at 0.71x as of Day 2. This suggests limited listing gains and moderate demand so far. While institutional participation has improved, overall subscription remains below 1x, indicating that broad-based demand is still building.
Day 2 saw better traction compared to Day 1, especially from QIBs (Qualified Institutional Buyers, large investors like mutual funds). However, the consistent fall in GMP from ₹7 to ₹2 shows that grey market expectations have cooled. The final day will be crucial to see if demand strengthens meaningfully.
Key IPO Details
| Issue Size | ₹150.06 crore |
| Price Band | ₹166 to ₹175 per share |
| Lot Size | 85 shares |
| Allotment Date | Apr 15, 2026 |
| Listing Date | Apr 17, 2026 |
Subscription Breakdown
| Category | Day 1 | Day 2 | Insight |
| QIB | 0.78x | 1.18x | Strong improvement, now fully subscribed |
| NII | 0.12x | 0.38x | Gradual pickup, still moderate |
| Retail | 0.31x | 0.59x | Steady increase, but below full subscription |
| Total | 0.40x | 0.71x | Improving but still under-subscribed |
Demand has improved from Day 1 to Day 2, led by institutional investors, while retail and NII participation is still catching up.
GMP Trend
| Date | GMP (₹) | Trend | Signal |
| Apr 08 (Pre-IPO) | 7 | Stable | Positive start |
| Apr 09 (Day 1) | 7 → 3.5 | Falling | Sentiment weakening |
| Apr 10 (Day 2) | 3.5 → 2 | Further decline | Reduced expectations |
| Apr 11 (Day 3) | 2 | Flat | Low listing hopes |
GMP has steadily declined from ₹7 to ₹2, indicating falling expectations for listing gains.
Disclaimer: GMP is not regulated or endorsed by stock exchanges or SEBI. INDmoney does not support grey market trading. It is only an informal indicator and may change quickly. Investors should do their own research before investing.
Valuation and Key Facts
- P/E ratio is 19.23x, meaning investors are paying ₹19.23 for every ₹1 of profit
- The sector average P/E is around 33x, indicating relatively reasonable pricing
- Profit grew ~88% in FY25 to ₹22.08 crore
- Order book stands at ₹744.60 crore, about 2.7x revenue
- RoE (return on equity, profit generated on shareholder money) is 35.83%
Valuation appears balanced. It is neither cheap nor expensive compared to peers. Strong growth and order visibility support the pricing, but high dependence on a single client remains a concern.
Also Read: Om Power Transmission IPO Review: Strong Growth Story, One Big Risk You Cannot Ignore
Listing Expectation
Based on GMP (an unofficial indicator), subscription, and valuation, listing gains may be limited. GMP suggests around 2% upside, which is modest. While QIB demand is strong, overall subscription is still below full levels. Valuation is fair, which supports long-term potential but does not leave much room for a strong listing pop.
Conclusion
The IPO shows improving demand, especially from institutional investors, but overall subscription is still not fully strong. GMP trends also indicate limited listing upside. Investors with a long-term view may consider the business fundamentals, while short-term listing-focused investors may prefer to stay cautious and watch final subscription numbers closely.
For detailed information, visit Om Power Transmission’s official IPO page at INDmoney.
Disclaimer
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