Om Power Transmission Shares Hit Upper Circuit Post Debut; Shares Surge Over 11%

Om Power Transmission Share Price: The shares of Om Power Transmission Ltd, a power infrastructure company, made a decent debut on Friday with a premium of over 6 per cent against the issue price of Rs 175. Post the listing, the stock extended the gaining momentum further to hit the upper circuit at Rs 195.30 on NSE, up over 11 per cent as compared to the IPO price.

On the BSE, the stock opened at Rs 181.10, up 3.48 per cent from its issue price. It later rose 8.65 per cent to Rs 190.15. On the NSE, the stock opened trading at Rs 186, up 6.28 per cent.

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At the time of writing, the stock was trading at Rs 193.50, up 10.57 per cent. Meanwhile, the power sector company's valuation stood at over Rs 640 crore.

IPO Received 3.33 Times Subscription

The initial public offering (IPO) of Om Power Transmission Limited was oversubscribed 3.33 times at the close of trading on Monday. Valued at 150 crore rupees, the IPO comprises the issuance of 7.575 million new shares and a sale of 1 million existing shares. The offering price is set between 166 and 175 rupees per share.

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Stock Market Today

The domestic equity indices picked up, gaining momentum in afternoon trade after having a range-bound approach in the early hours as investors turned optimistic amid some positive development to end the war in middle east.

At the time of writing, the 30-share BSE index was trading at 78,472.61, up 483.93 points or 0.62 per cent. Nifty50 was quoted at 24,335.40, up 138.65 points or 0.57 per cent.

Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.