Om Power Transmission Makes Waves on Market Debut

Om Power Transmission Ltd's stocks debuted with a 6% premium, opening at Rs 181.10 on the BSE, compared to its issue price of Rs 175. The IPO saw 3.33 times subscription, raising Rs 150 crore through fresh and sale offers. The company's market valuation reached Rs 642.09 crore.

Om Power Transmission Ltd made a strong market debut, with its shares listing at a 6% premium compared to the Rs 175 issue price. The stock opened at Rs 181.10 on the BSE, a 3.48% increase.

Trading momentum continued as shares surged to Rs 190.15, marking an 8.65% rise. The NSE witnessed a similar upbeat start, with shares commencing at Rs 186, representing a 6.28% jump.

The company's IPO was oversubscribed by 3.33 times on Monday, generating Rs 150 crore. The issue comprised 75.75 lakh fresh shares and a sale offer of 10 lakh shares, set within a price range of Rs 166 to Rs 175 per share. The market capitalization stood at Rs 642.09 crore.

(With inputs from agencies.)