Om Power Transmission IPO allotment: Step-by-step guide to check status— GMP, listing date

Om Power Transmission is likely to finalize the basis of allotment of its shares on Wednesday, April 15. Applicant bidders will get the messages, alerts or emails for debit of their funds by Thursday, April 16 or by Friday, April 17. The power transmission infra player received a decent response from the investors during the three day bidding period.

The IPO of Om Power Transmission was open for bidding between April 9 and April 13. It had offered its shares in the price band of Rs 166-175 per share with a lot size of 85 shares. The company eyed to raise a total of Rs 150 crore via IPO, which was a fresh share sale of 75.75 lakh shares worth Rs 133 crore and an offer-for-sale (OFS) of up to 10 lakh shares worth Rs 18 crore.

The issue was overall subscribed 3.33 times with over 41,400 applications, fetching bids for Rs 349.39 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 3.75 times. The quotas for non-institutional investors (NIIs) and retail bidders were subscribed at 7.06 times and 1.54 times, respectively.

The grey market premium (GMP) of Om Power Transmission has moved up despite mixed bidding due to rebound in the broader market sentiments. Last heard, it was commanding a discount of Rs 4.5-5 per share, suggesting a mild listing pop of around 3 per cent for the investors. The company was commanding a GMP around Rs 2 apiece, when the issue had closed for bidding.

Incorporated in 2011, Ahmedabad-based Om Power Transmission is a power transmission infrastructure engineering, procurement, and construction (EPC) company. Its expertise lies in the execution of high-voltage (HV) and extra-high voltage (EHV) transmission lines, substations and underground cabling projects delivered on a turnkey basis.

Beeline Capital Advisors is the sole book running lead managers for Om Power Transmission IPO and MUFG Intime India is the registrar of the issue. Refund of the bidding amount shall be done on Thursday, March 16. Shares of the company shall be listed on both BSE and NSE with Friday, April 17 as the date of listing.

Investors, who had bid for the issue of Om Power Transmission, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Om Power Transmission Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘OMPOWER’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

• Go to the web portal of MUFG Intime India Limited
• Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.