Shares of power infrastructure company Om Power Transmission Ltd made a decent debut on Friday, listing at a 6 per cent premium to the issue price of Rs 175. The listing at a premium is significant amid market volatility. The stock opened trading at Rs 186, up 6.28 per cent from the issue price on the National Stock Exchange. Later, it surged 11.42 per cent to hit a high of Rs 195 apiece. Also, the listing is better than what the grey market premium (GMP) had suggested.ย
On the BSE, Om Power Transmission’s shares made a debut at Rs 181.19, registering a 3.49 per cent jump. Later, it hit a high of Rs 190.15, a gain of Rs 15.15 or 8.66 per cent.ย The market cap of the company stood at Rs 651.17 crore.
IPO received decent subscription
Earlier, the Rs 150-crore IPO received bids for 1,99,65,140 shares against 60,02,730 shares on offer.
The category for non-institutional investors fetched 7.06 times the subscription. The quota for qualified institutional buyers (QIBs) received 3.65 times the subscription, and the portion meant for retail individual investors (RIIs) got subscribed 1.54 times.
The Book Running Lead Manager to the Offer is Beeline Capital Advisors Private Limited, and the Registrar to the Offer is MUFG Intime India Private Limited (formerly Link Intime India Private Limited).
Share market today
Meanwhile, Indian benchmark indices opened lower amid weak global cues. While the 30-share BSE Sensex fell 12.55 points to start the session at 77,976.13, the Nifty dropped 30.85 points to open at 24,165.90. However, they witnessed a good recovery, supported by optimism about easing geopolitical tensions and fresh inflows of foreign funds.
The 30-share BSE Sensex climbed 177.52 points to 78,166.20 in early trade. The 50-share NSE Nifty advanced 37.4 points to 24,234.15.
The Sensex had declined 122.56 points or 0.16 per cent to settle at 77,988.68 in the last trading session. The Nifty dropped 34.55 points or 0.14 per cent to end at 24,196.75.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)ย