Om Power Transmission IPO opens: Should you subscribe— Check price band, fresh GMP & more

The initial public offering (IPO) of Om Power Transmission shall open for subscription on Thursday, April 09, making it the first IPO of financial year 2026-27. The power EPC player is offering its shares in the range of Rs 166-175 apeice. Investors can apply for a minimum 85 equity shares and its multiples thereafter until Monday, April 13.

Om Power Transmission is eyeing to raise a total of Rs 150 crore via IPO, which includes a fresh share sale of 75.75 lakh equity shares worth Rs 133 crore and offer-for-sale of up to 10 lakh equity shares worth Rs 18 crore. The net proceeds from the issue shall be utilized towards repayment of debt, funding of capex needs and working capital requirements.

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 manager and MUFG Intime India is the registrar of the issue. Brokerage firms are largely positive on the issue, suggesting investors to subscribe to it for long-term citing its strong execution capabilities, long relationships with existing customers and rising demand of power infra.

Om Power has demonstrated healthy financial performance with revenue, ebitda and profit growing at a CAGR of 52 per cent, 73 per cent and 8 per cent to Rs 279 crore, Rs 34 crore and Rs 23 crore, respectively between FY23-25. It plans to repay its borrowings partially to the tune of Rs 25 crore which will aid in savings of finance costs and boost profitability, said SBI Securities.

It is well placed to capitalize on strong sector tailwinds, with India’s power generation and transmission market expected to rise to $280 billion by FY30P, growing at a CAGR of 14.4 per cent. The issue is valued at a P/E of 27.1 times/19.2 times based on FY25 and annualized 9MFY26 earnings, respectively, on a post‑issue basis," it added with a 'subscribe for long-term' rating.

Ahead of its IPO, Om Power Transmission raised more than Rs 45 crore from anchor investors as it allocated 25,72,270 equity shares at Rs 175 per share. Morgan Stanley Asia, Craft Emerging Market Fund and Sunrise Investment Trust participated in the anchor book.

Om Power Transmission is valued at a P/ E multiple of 19.5 times based on FY25 earnings. Considering its improving margins, robust order book, and favorable industry outlook, we recommend a 'subscribe' rating for the issue from a medium- to long-term investment perspective, said BP Equities.

Om Power Transmission reported a net profit at Rs 23.37 crore with a total income of Rs 276.50 crore for the nine-months ended on December 31, 2025. The company clocked a net profit at Rs 35.66 crore with a revenue of Rs 281.65 crore for the financial year ended on March 31, 2025. At the current valuation, it commands a market capitalization less than 600 crore.

Om Power operates an end-to-end EPC model, wherein it undertakes complete responsibility for project execution from engineering design to final commissioning. It manages activities including route alignment, tower erection, stringing, substation development, and system testing, said Ventura Securities.

Its contracts are awarded by utilities and infrastructure developers under competitive bidding processes, with defined timelines and performance obligations. This integrated approach enables it to deliver turnkey solutions while maintaining long-term relationships with key customers," it said with a 'subscribe' tag citing revenue contraction and margin sensitivity as key risks.

The company has reserved 50 per cent of shares for qualified institutional bidders, while non institutional investors have a 15 per cent of allocation in the IPO. Retail investors have 35 per cent reservation in the issue. Last head the company was commanding a market capitalization of Rs 7 apeice, suggesting a 4 per cent listing gain for the investors.