GMP IPO Watch
Om Power Transmission IPO Closes Today: High-Voltage Growth with a Robust Order Book—Should You Invest?
Om Power Transmission wraps up its ₹150.06 crore IPO today, April 13, 2026. Specializing in high-voltage transmission lines (up to 400kV) and substations, the company enters the final bell with a ₹744 crore order book and a price band of ₹166–₹175. We analyze the final subscription trends and why this "power player" is being valued at 19x earnings.
Live IPO tracking available
Check GMP movement, allotment details, subscription demand, and deeper IPO context for this company.
Use these shortcuts to keep exploring
The archive button opens all articles from this category. The IPO details button opens the live IPO page on your GMP site in a new tab.
1. Live Status: Final Day Subscription (April 13, 11:30 AM)
After a steady opening last Thursday, the final day surge is now in full swing:
Total Subscription: Currently at 0.85x and expected to cross full subscription shortly.
Institutional (QIB) Interest: Leading the momentum at 1.2x, showing that professional funds are backing the power infrastructure theme.
Retail Portion: Standing at 0.65x. Retail investors often wait for the final hours, so expect a significant jump by 5:00 PM.
Grey Market (GMP): Currently trading at a modest ₹3 to ₹5 premium. While this suggests a stable listing around ₹178–₹180, the real attraction for most investors is the long-term fundamental story.
2. The Business: Building India's Power Grid
Om Power Transmission isn't just about wires; they provide integrated, turnkey solutions for electricity transfer.
Specialization: They build transmission lines (11kV to 400kV), underground cables, and both Air-Insulated (AIS) and Gas-Insulated (GIS) substations.
Regional Dominance: While they are expanding into Punjab and Rajasthan, nearly 79% of their current orders are in the state of Gujarat—a major hub for renewable energy integration.
O&M Moat: Beyond construction, they maintain 124 substations, providing a recurring revenue stream that balances the seasonal nature of EPC work.
3. IPO Snapshot & Key Timeline
| Event / Detail | Important Dates & Info |
|---|---|
| IPO Closing Date | Today, Monday, April 13, 2026 |
| Price Band | ₹166 to ₹175 per share |
| Lot Size | 85 Shares |
| Retail Min. Investment | ₹14,875 (1 Lot) |
| Allotment Date | Wednesday, April 15, 2026 |
| Listing Date | Friday, April 17, 2026 (NSE & BSE) |
4. Financials: Rapidly Scaling Profits
The numbers reflect the massive demand for grid upgrades in India:
Revenue: Jumped from ₹182 crore (FY24) to ₹279 crore (FY25).
Net Profit (PAT): Witnessed a 3x increase, rising from ₹7.4 crore to ₹22.08 crore last fiscal year.
Order Visibility: As of December 2025, they have an unexecuted order book of ₹744 crore, which is nearly 2.6x their last annual revenue—giving investors high confidence in future earnings.
Efficiency: The IPO will repay ₹25 crore of debt, which is expected to further boost net margins by reducing interest costs.
5. The Verdict: The Final Checklist
The Bull Case (The "Pros"):
Attractive Valuation: At a P/E of 19.4x, it is priced significantly lower than the industry average of ~33x, leaving room for potential long-term appreciation.
Turnkey Capability: One of the few companies that can handle the entire lifecycle from design to commissioning and O&M.
Clean Balance Sheet: Low debt-to-equity and the focus on debt repayment with IPO funds make it a financially sound pick.
The Bear Case (The "Cons"):
Regional Concentration: High dependence on Gujarat means local policy shifts or natural calamities in that state could impact performance.
Bidding Risk: Revenue depends entirely on winning competitive tenders, which can sometimes lead to margin pressure if bidding gets too aggressive.
