Omnitech Engineering IPO will open on February 25
Know the main points and gist of the news at a glance
New Delhi. Engineering component manufacturing company Omnitech Engineering has announced the price band for its Rs 583 crore IPO. Omnitech Engineering IPO will open on 25th February, while you will be able to invest in it till 27th February. The price band of shares in the IPO has been kept at Rs 216-227 per share. The thing is that even 5 days before the opening of the IPO, the GMP of Omnitech shares is indicating profit.
Mainboard will have IPO
The IPO of Omnitech Engineering will be of mainboard. Large (anchor) investors will be able to bid in this IPO on 24 February. In this public issue, new shares worth up to Rs 418 crore will be issued, while shares worth Rs 165 crore will be sold through Offer for Sale (OFS). The OFS offer is being led by the company's promoter Udayakumar Arunkumar Parekh.
What will the company do with the IPO funds?
The proceeds from the new fund will be used by Omnitech to repay debt, set up two new manufacturing units, meet capital expenditure requirements and for general corporate purposes. Shares of Omnitech Engineering may be listed in the market on March 5.
What is the GMP of this IPO?
According to InvestorGain, Omnitech's GMP is trading at Rs 13 today. That means, those who will get shares in IPO can earn Rs 13 per share (5.73 percent return). But keep in mind that the GMP of any company's share can increase or decrease till its listing.
What is the lot size?
The lot size in Omnitech's IPO is 66 shares. That means, you can apply for at least 66 shares and then shares in multiples thereof.
What does Omnitech do?
Omnitech Engineering is a manufacturing and engineering solutions company. Its areas of expertise include precision-engineered components, turnkey industrial automation solutions and custom mechanical systems for multiple sectors. The business focuses its expertise in the mechanical design, fabrication, assembly and integration of high-performance machinery used in industries such as general manufacturing, automotive, aerospace, pharmaceuticals and food processing. Famous for his ability.
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(Disclaimer: Here is information about an upcoming IPO, not investment advice. Jagran Business is not giving investment advice. Investing in the stock market is subject to market risks, so please consult a certified investment advisor before investing.)
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