Om Power Transmission plans Rs 150 crore IPO

Om Power Transmission, an engineering, procurement and construction (EPC) company in power transmission infrastructure, is seeking to raise Rs 150 crore through an initial public offering (IPO). The issue comprises 85.75 lakh equity shares, including a fresh issue of 75.75 lakh shares and an offer for sale (OFS) of up to 10 lakh shares, priced in the range of Rs 166 to Rs 175 per share.

Anchor investor bidding is scheduled to open on April 8, with bidding for retail and other investors commencing on April 9. Beeline Capital Advisors has been appointed as the book-running lead manager (BRLM) for the issue, while MUFG Intime India will act as registrar.

Proceeds from the fresh issue are proposed to be utilised for the purchase of machinery and equipment, repayment of borrowings, funding long-term working capital requirements, and general corporate purposes.

The company operates across transmission lines, substations, underground cabling, and operations and maintenance (O&M) services. Chairman and Executive Director Kalpesh Dhanjibhai Patel said the company has expanded its business through project execution for utilities and infrastructure-focused clients, supported by a growing order book.

The IPO is aimed at supporting capacity expansion and enabling the company to undertake larger and more complex projects in the power transmission and grid infrastructure segment.

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