Om Power Transmission, a power transmission infrastructure engineering, procurement and construction company, plans to raise ₹150 crore through an initial public offering.
The company will offer 85.75 lakh equity shares, comprising a fresh share issuance of 75.75 lakh equity shares and an offer for sale of up to 10 lakh shares. The issue will be priced at ₹166-₹175 a share.
The anchor bidding opens on April 8 and bidding for retail and other investors will begin on Thursday.
The net proceeds from the offer will be used for funding capital expenditure requirements of the company towards purchase of machinery and equipment, repayment of borrowings, funding long-term working capital and general corporate purposes.
Beeline Capital Advisors will be the book-running lead manager to the offer while MUFG Intime India has been appointed as the registrar.
Kalpesh Dhanjibhai Patel, Chairman and Executive Director, Om Power Transmission, said the company has progressed over the years as an EPC company focused on power transmission infrastructure, with experience in transmission lines, substations, underground cabling and O&M services.
The business of the company has expanded through execution of projects for utilities and infrastructure-led demand, supported by a growing order book and operational capabilities, he said.
The IPO will support the company’s next phase of growth by strengthening operational capabilities, enhancing execution capacity and supporting participation in larger and more complex projects. This is expected to enable the company to expand its presence in the power transmission and grid infrastructure space, in line with its growth plans, he added.