The Rs 150 crore IPO, comprising a mix of fresh issue and offer for sale, was subscribed 3.33 times overall, with stronger interest from high-net-worth investors. The NII portion was subscribed 7.06 times, while qualified institutional buyers bid 3.65 times. Retail participation remained relatively muted at 1.54 times.
Despite the decent overall subscription, the lack of strong institutional aggression and a modest GMP point to a cautious listing outlook.
Om Power Transmission is an EPC player focused on power transmission infrastructure, with capabilities spanning high-voltage and extra-high voltage transmission lines, substations and underground cabling projects. The company executes projects on a turnkey basis, including design, engineering, installation and maintenance.
The company has demonstrated steady financial growth in recent years. Profit after tax stood at Rs 23.37 crore for the nine months ended December 2025, compared with Rs 22.08 crore for FY25, indicating consistent earnings momentum. Revenue for the same period came in at Rs 276.50 crore, broadly in line with the previous full year.
Its order book remains a key strength, with unexecuted orders worth over Rs 744 crore as of December 2025, providing revenue visibility. However, some analysts have flagged concerns around the sharp jump in profitability in recent periods and the sustainability of margins going forward.
Proceeds from the IPO will be used towards capital expenditure, debt repayment and working capital requirements, alongside general corporate purposes.At the upper end of the price band, the company is valued at a price-to-earnings multiple of around 19–21 times, which analysts consider largely fair, limiting scope for sharp listing gains.