Omnitech Engineering Gears Up for IPO with Rs 174 Crore Anchor Investment

Omnitech Engineering, a precision-engineered components manufacturer, has raised over Rs 174 crore from anchor investors for its upcoming IPO. The company's share-sale values them at over Rs 2,800 crore. The IPO will support debt repayment, facility expansion, and capital requirements.

Omnitech Engineering, known for producing precision-engineered components, has successfully raised over Rs 174 crore from anchor investors. This financial boost comes just a day before the public opening of their initial share-sale, a significant event for the Rajkot-based company.

Key players such as ICICI Prudential Mutual Fund, Nippon India MF, and Ashoka India Equity Investment Trust Plc, among others, participated in the anchor book. A BSE circular revealed that five domestic mutual funds received 54.42 percent of the allocation, which equates to nearly Rs 95 crore worth of shares.

The Rs 583-crore IPO is set to open on February 25, spanning two days with a price band of Rs 216 - 227 per share. Proceeds will upgrade manufacturing capabilities and meet capital expenditure needs. Management by Equirus Capital and ICICI Securities facilitates Omnitech's market debut on March 5.

(With inputs from agencies.)