The Rs 22.35 crore IPO, priced at Rs 86 per share, witnessed an overall subscription of 1.47 times, indicating a fair but cautious interest in the issue. Ahead of its listing, the grey market premium (GMP) is hovering around zero, suggesting that the stock is likely to see a flat opening.
The company’s IPO, which was open for bidding from September 29 to October 1, received the most traction from retail investors. The retail portion was subscribed 2.53 times, while the non-institutional investor (NII) segment saw a tepid response with 0.41 times subscription.
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Market observers say the lack of premium in the unlisted market reflects both the company’s niche operations and the broader shift in sentiment towards smaller industrial and manufacturing IPOs after an extended rally in the SME segment.
Om Metallogic specialises in recycling aluminium-based metal scrap to produce high-quality alloys such as ingots, cubes, shots, and notch bars. These products are used across key industries like automotive, construction, electrical transmission, and packaging, where aluminium’s lightweight and corrosion resistance make it a preferred material.
The company operates a manufacturing facility in Ballabhgarh, Haryana, with an annual capacity of 5,280 tonnes, using modern equipment and a technology-driven production process.
Om Metallogic’s core business model focuses on sustainable recycling and circular economy practices, aligning with the growing demand for environmentally responsible metal sourcing. The company serves both domestic and international clients, supported by a compact but efficient logistics and distribution network.
The issue proceeds will primarily be used for expanding and modernizing the existing manufacturing unit, meeting working capital needs, and repaying certain borrowings.
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