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₹175 - 175
Om Power Transmission Ltd
Infrastructure Developers & OperatorsIPO
₹175 - 175
The Company is a power transmission infrastructure engineering, procurement, and construction ("EPC") company with over 14 years of experience. Its expertise lies in the execution of high-voltage ("HV") and extra-high voltage ("EHV") transmission lines, substations and underground cabling projects delivered on a turnkey basis, encompassing design, engineering, supply, erection, installation, testing, commissioning, and comprehensive operation and maintenance ("O&M") services. Since commencement of its operations in 2011 in the State of Gujarat, the company has commissioned transmission lines, substations and underground cables, covering in aggregate over 1,000 circuit kilometers ("CKM") of transmission lines and 11 substations respectively. Its EPC capabilities extend to transmission lines ranging from 11 kilovolts ("kV") to 400 kV and substations up to 220 kV.
Lot85Min Invest₹14,875Face Value₹10Issue Size₹150 CrFresh Issue₹133 CrOffer for Sale₹18 CrListing Price₹181CMP₹120
Timeline
9 Apr
Bidding opens
13 Apr
Bidding closes
15 Apr
Allotment
16 Apr
Refund & demat credit
17 Apr
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹150 Cr0.86 Cr shares
Fresh Issue₹133 Cr
Offer for Sale₹18 Cr
Face Value₹10
Lot Size85 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,8751-13 lots
sNII₹2,08,250from 14 lots
bNII₹10,11,500from 68 lots
Managers & Registrar
Lead ManagerBeeline Capital Advisors Private Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrKalpesh Dhanjibhai PatelPRMTR--Kanubhai PatelPRMTR--Vasantkumar Narayanbhai PatelPRMTR--
Shareholding
CategoryPre IPOPost IPOPromoter Group92.25%68.92%Public7.75%31.08%
Objects of the Issue
- Funding of capital expenditure requirements of the Company towards purchase of machinery and equipment
- Pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by its Company
- Funding long-term working capital requirement of the Company
- General Corporate Purpose
Anchor Book
Bid Date08-Apr-2026Shares25,72,270Amount₹45 Cr30-day lock-in14-May-202690-day lock-in13-Jul-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 120 | 183 | 279 | 449 |
| Operating ProfitCr | 12 | 14 | 36 | 57 |
| OPM% | 9.9 | 7.9 | 12.8 | 12.7 |
| PBTCr | 8 | 10 | 31 | 52 |
| PATCr | 6 | 7 | 22 | 40 |
| EPS | 3 | 3 | 9 | 16 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 1 | 1 | 1 | 27 |
| ReservesCr | 43 | 50 | 72 | 110 |
| BorrowingsCr | 26 | 26 | 19 | 48 |
| Fixed AssetsCr | - | - | 10 | 13 |
| Total AssetsCr | 105 | 118 | 150 | 342 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 10 | 4 | 17 | -26 |
| Investing Cash FlowCr | -1 | 1 | -4 | -18 |
| Financing Cash FlowCr | -9 | -5 | -13 | 46 |
| Net Cash FlowCr | 0 | 0 | 1 | 2 |
Strengths & Risks
Strengths · as stated in the DRHP
- Track record of execution capabilities and timely completion of projects
- Strong Order Book across business vertical.
- Strong and consistent financial performance
- Experienced Promoters and Senior Management team, having domain knowledge
Strategies · as stated in the DRHP
- Strengthen our presence by expanding our geographical footprint.
- Continue to focus on increasing operational efficiency and cost management in relation to execution of our projects.
- Capitalizing on power transmission and distribution demand by bidding for large-scale, high-value projects across India.
Risks · as stated in the DRHP
- Majority of the company's projects have been awarded through competitive bidding process. Failures to qualify for, compete or win new contracts could negatively impact its business, potentially affecting the company's financial condition, operational results, growth prospects, and cash flow stability.
- The company's project portfolio and revenue generation has historically been concentrated in the state of Gujarat. This regional concentration could expose the Company to economic, cultural, geopolitical and local market risks.
- As at the nine months period ended December 31, 2025 and as at end of Fiscals 2025, 2024, and 2023, the company's trade receivables amounted to Rs. 14,406.60 lakhs, Rs. 9,011.20 lakhs, Rs. 6,989.09 lakhs, and Rs. 5,781.65 lakhs, respectively, out of which Rs. 1,126.02 lakhs, Rs. 861.99 lakhs, Rs. 1,367.77 lakhs, and Rs. 487.46 lakhs, aggregating to 7.82%, 9.57%, 19.57%, and 8.43%, respectively, of its total trade receivables (excluding expected credit loss allowance) was outstanding for a period exceeding six months from their respective due dates of payments. The company may not be able to collect receivables due from its customers, in a timely manner, or at all, which may adversely affect its business, financial condition, results of operations and cash flows.
- The company's Promoters and members of Promoter Group will continue to retain a majority shareholding in the Company after the Offer, which will allow them to exercise significant influence over the company.
- The company's business typically requires significant amounts of working capital and historically, the company's business growth has been dependent on high working capital requirements. The company's working capital as a percentage of (i) total assets was 62.42%, 56.64%,55.05%, and 53.65% as at the nine months period ended December 31, 2025 and as at Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively, and (ii) revenue was 54.58%, 30.44%, 35.50%, and 46.92% as at the nine months period ended December 31, 2025 and Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively, and the company's working capital turnover ratio in nine months period ended December 31, 2025 and Fiscal 2025, Fiscal 2024, and Fiscal 2023 was 1.83, 3.29, 2.82, and 2.13, respectively. If the company experience insufficient cash flows or are unable to access suitable financing to meet working capital requirements and loan repayment obligations, the company's business, financial condition and results of operations could be adversely affected.
- The company's business is primarily dependent on tenders from public sector undertakings, which account for approximately 83.74%, 84.21%, 87.48% and 65.77% of its Order Book for the nine months period ended December 31, 2025 and Fiscals 2025, 2024 and 2023, respectively. However, delays or a lack of tenders from public sector undertakings, along with adverse changes in government policies, could materially impact the company's business through contract foreclosures, terminations, restructurings, or renegotiations, affecting its operations and financial performance.