Om Power lists ok

A new listing today – Om Power Transmission. As against the IPO price of Rs.175, the stock got listed on the BSE at Rs.181.10 and went up to Rs.190.15 and is currently trading around the same levels.

The IPO opened at a time when markets were at its worst and yet did garner good support – overall it was subscribed 3.33x, with HNIs taking 7.06, QIBs at 3.65x and Retail at 1.54x.

Om Power Transmission is a 14 year old company executing high-voltage (HV) and extra-high voltage (EHV) transmission lines, substations and underground cabling projects on a turnkey basis. Its engineering, procurement and construction (EPC) capabilities extend to transmission lines ranging from 11 kilovolts (kV) to 400 kV and substations up to 220 kV.

In our IPO Analysis, we had concluded - Om Power Transmission is a growing play in the booming power transmission sector. Since secondary markets are not favourable to nano caps presently, we recommend applying in the IPO only with a medium term view.