Om Power Transmission IPO Skyrockets by 10.5% on Debut

Om Power Transmission Ltd's shares closed 10.5% above the issue price after a successful IPO. The shares began trading on BSE at Rs 181.10 and rose to Rs 190.15, while on NSE, they started at Rs 186 and ended at Rs 193.38. The IPO was subscribed 3.33 times.

In a remarkable stock market debut, Om Power Transmission Ltd witnessed its shares soar by 10.5% over the initial public offering price. Trading commenced on the Bombay Stock Exchange (BSE) at Rs 181.10, 3.48% above the issue price, and climbed to Rs 190.15, marking the day's permissible trading peak.

Similarly, trading on the National Stock Exchange (NSE) saw the shares opening at Rs 186, a 6.28% increase, eventually closing strongly at Rs 193.38. The company's market capitalization now stands impressively at Rs 651.17 crore upon closing.

The IPO, which concluded on Monday, received an enthusiastic response being oversubscribed by 3.33 times. It comprised Rs 150 crore with 75.75 lakh new shares offered and an additional 10 lakh shares available for sale, priced between Rs 166-175 per share.

(With inputs from agencies.)