Om Power IPO Day 3: GMP ₹8 (+₹6)
As the Om Power IPO enters its crucial third day of subscription, investors are closely watching the developing subscription levels and grey market premium (GMP). The IPO, which opened for subscription on April 9th and will close on April 13th, is offering shares at an issue price of ₹166 per share. While subscription numbers are yet to show significant movement across all categories, the grey market sentiment has seen a notable uptick.
| Date | GMP | Est. Listing |
|---|---|---|
| 15 Apr | +₹2 | ₹168 |
| 14 Apr | +₹2 | ₹168 |
| 13 Apr | +₹3 | ₹169 |
| 11 Apr | +₹3 | ₹169 |
| 10 Apr | +₹4 | ₹170 |
Subscription Status
As of the end of Day 3, the Om Power IPO has recorded zero subscriptions across the Retail, Non-Institutional Investor (NII), and Qualified Institutional Buyer (QIB) categories. This indicates that no bids have been placed yet for any of the shares offered. Typically, a lack of immediate subscription on the third day can be a point of concern, suggesting a cautious approach from investors. However, it is also common for subscriptions to gain momentum in the final days of the IPO period, especially for companies aiming for a strong listing. The total subscription also stands at 0x, reflecting the current lack of investor interest.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 1.54x | |
| NII / HNI | 7.06x | |
| QIB | 3.65x | |
| Total | 3.33x |
| Date | Retail | NII | QIB | Total |
|---|---|---|---|---|
| 13 Apr | 1.54x | 7.06x | 3.65x | 3.33x |
| 10 Apr | 0.58x | 0.38x | 1.18x | 0.71x |
| 09 Apr | 0.30x | 0.11x | 0.78x | 0.39x |
GMP Update
The Grey Market Premium (GMP) for Om Power IPO has seen a significant increase, currently standing at ₹8. This is a substantial jump from the previous day’s GMP of ₹2, marking an increase of ₹6. A positive GMP suggests that investors in the unofficial market are willing to pay a premium for the shares over the issue price. The current GMP of ₹8, combined with the issue price of ₹166, points towards an expected listing price of approximately ₹174. This upward trend in GMP, despite the low subscription numbers, could be an indicator of potential investor interest that may translate into subscriptions in the coming days.
Should You Apply?
The Om Power IPO presents a mixed picture on Day 3. The subscription status remains dormant, which warrants caution. However, the strong positive momentum in the GMP is encouraging and suggests a potentially profitable listing. Investors should consider their risk appetite and conduct thorough due diligence. It is advisable to consult with SEBI registered investment advisors for personalized guidance before making any investment decisions. The IPO period continues until April 13th, providing ample time for potential investors to evaluate the opportunity. The lot size for the IPO is 85 shares.