Omnitech Engineering IPO Opens with Modest Subscription and Limited Listing Upside

Omnitech Engineering launched a Rs 583 crore IPO with a price band of Rs 216-227 per share, combining a fresh issue and an offer for sale. The IPO, open from February 25 to 27, received a modest subscription of around 8% on Day 1, with retail investors subscribing about 6%. Proceeds will fund debt repayment, new manufacturing facilities, and capital expenditures. The grey market premium suggests a limited listing gain, while brokers recommend the issue for long-term, growth-focused investors given its global clientele and export orientation.