Omnitech Engineering IPO GMP remains flat ahead of Thursday listing; check details
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Proceeds from the fresh issue will be used for setting up two new manufacturing facilities.
The grey market premium (GMP) for Omnitech Engineering initial public offering (IPO) remained flat ahead of its listing on March 5, Thursday.
The Rs 583-crore public issue was subscribed 1.14 times during February 25-27.
Shares were allotted to successful bidders on March 2. Investors can check their allotment status on the official website of the registrar. The status is also available on the websites of National Stock Exchange of India and BSE.
Detailed Guide to check Omnitech Engineering IPO allotment status
The company raised over Rs 174 crore from anchor investors. The price band for the issue was fixed at Rs 216-227 per share, valuing the company at over Rs 2,800 crore.
Proceeds from the fresh issue will be used for repayment of debt, setting up two new manufacturing facilities, funding capital expenditure requirements and for general corporate purposes.
Omnitech Engineering manufactures high-precision engineered components and supplies to global customers across energy, motion control and automation, industrial equipment systems and other diversified industrial applications.
Its clients include Halliburton Energy Services, Suzlon, Oshkosh Aerotech, Weatherford, Lufkin Industries, Oilgear, Donaldson Company, PUSH Industries and Bharat Aerospace Metals.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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