Om Power Transmission IPO Day 3 update as subscription reaches 71% with GMP and important details

Om Power Transmission IPO opened for subscription on April 9 and will close on April 13, with a price band of ₹166 to ₹175 per share and a lot size of 85 shares. The company raised ₹45.01 crore from anchor investors including Craft Emerging Market Fund PCC, Morgan Stanley Asia (Singapore), and Sunrise Investment Trust. Om Power Transmission is an EPC company focused on power transmission infrastructure with over 14 years of experience. The IPO has reserved up to 50% for QIBs, at least 15% for NIIs, and 35% for retail investors. As of day 2, the issue was subscribed 71%, with retail at 58%, NII at 38%, and QIB at 1.18 times. The grey market premium is around ₹2, indicating a likely listing price near ₹177, showing limited short-term gains and a declining trend compared to earlier sessions. The company plans to raise ₹150 crore through a mix of fresh issue and offer for sale, with funds to be used for machinery purchase, debt repayment, and working capital. Allotment is expected on April 15, refunds and demat credits on April 16, and listing is likely on April 17 on BSE and NSE. Overall, experts suggest the IPO is more suitable for long-term investors, supported by a strong order book, sector growth potential, and stable fundamentals, although risks like dependence on government projects and working capital requirements remain.