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Listed
Other Electrical Equipment
Om Power Transmission Limited IPO
₹150 Cr · Fresh Issue & OFS · Other Electrical Equipment
Price Band
₹166 – ₹175
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹150 Cr
Fresh Issue & OFS
Market Cap
₹599.29 Cr
At upper band
P/E Ratio
27.1x
P/S: 2.1x
Listing Date
17 Apr 2026
BSE & NSE
IPO Timeline
✓
Opens
09 Apr 2026
✓
Closes
13 Apr 2026
✓
Allotment
14 Apr 2026
✓
Refund
15 Apr 2026
✓
Listing
17 Apr 2026
IPO India Hub: Subscribe
Conviction
7/10
The company trades at 1.18× sector midpoint with strong profitability momentum (PAT CAGR 77.6%) and exceptional capital efficiency (ROCE 41.76%), supported by conservative leverage (D/E 0.26×). Key risk is margin compression: NPM of 8.5% leaves limited buffer if input costs or competition intensify in electrical equipment manufacturing.
Listing Performance
Issue Price
₹175
Allotment price
Listing Price
₹181.1
+3.49% on listing day
Current Price (CMP)
₹172.25
-1.6% vs issue
Listed On
17 Apr 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Exceptional profit growth trajectory
Net profit surged 77.6% CAGR over two years (₹7.4 Cr → ₹23.4 Cr), while revenue grew 22.5% CAGR, demonstrating strong operational leverage and cost control. This disproportionate profit growth signals improving unit economics and pricing power in the electrical equipment segment.
✓ Strength
Strong capital efficiency and balance sheet
ROCE of 41.76% is exceptional for a manufacturing business, indicating efficient asset deployment. Debt-to-equity of 0.26× is conservative, and the company plans to repay ₹25 Cr of borrowings post-IPO, further strengthening financial flexibility.
⚠ Risk
Thin net profit margins limit downside protection
NPM of 8.5% is below the 15% threshold that would justify premium valuations. Any adverse movement in raw material costs, freight, or competitive pricing could compress margins significantly and undermine the profit growth narrative.
⚠ Risk
Revenue stagnation in latest fiscal year
Revenue declined from ₹281.6 Cr (FY-1) to ₹276.5 Cr (FY0), a 1.8% contraction despite the 22.5% two-year CAGR. This recent slowdown raises questions about market demand sustainability and whether growth is cyclical or structural.
₹ Valuation
Fair valuation at sector midpoint
P/E of 27.1× translates to 1.18× the niche/unlisted sector midpoint of 23×, placing the company in the Subscribe zone. P/S of 2.1× is reasonable for a profitable manufacturing business, though the valuation offers limited margin of safety given thin margins and recent revenue softness.
👁 Watch
Monitor margin trajectory post-listing
Investors should track quarterly EBITDA and net margins closely. Any sustained decline below 8% NPM or failure to return to revenue growth within two quarters would signal deteriorating business fundamentals and warrant reassessment.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Om Power Transmission Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹279.44 Cr
Net Profit
₹22.08 Cr
Industry
Other Electrical Equipment
Issue Type
Fresh Issue & OFS
Promoters
KALPESH DHANJIBHAI PATEL, KANUBHAI PATEL AND VASANTKUMAR NARAYANBHAI PATEL
Lead Managers
Beeline Capital Advisors
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 1.18× sector midpoint with strong profitability momentum (PAT CAGR 77.6%) and exceptional capital efficiency (ROCE 41.76%), supported by conservative leverage (D/E 0.26×). Key risk is margin compression: NPM of 8.5% leaves limited buffer if input costs or competition intensify in electrical equipment manufacturing.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
Lot size details will be updated when the DRHP is filed. The price band is ₹166 – ₹175.
The IPO opens on 09 Apr 2026. It closes on 13 Apr 2026. Allotment is expected on 14 Apr 2026. Refunds initiate on 15 Apr 2026. Listing on BSE and NSE is on 17 Apr 2026.
The lead managers for the IPO are Beeline Capital Advisors. Check the SEBI filing for the registrar details.
The IPO listed on 17 Apr 2026 at ₹181.1 against an issue price of ₹175 (+3.49% on listing day). The current market price (CMP) is approximately ₹172.25 (+-1.6% vs issue).
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 13 Apr 2026. The company trades at 1.18× sector midpoint with strong profitability momentum (PAT CAGR 77.6%) and exceptional capital efficiency (ROCE 41.76%), supported by conservative leverage (D/E 0.26×). Key risk is margin compression: NPM of 8.5% leaves limited buffer if input costs or competition intensify in electrical equipment manufacturing.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 13 Apr 2026. The IPO is priced at a P/E of 27.1x. Market cap at issue price is ₹599.29 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The issue closes on 13 Apr 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Om Power Transmission Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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