Omnitech Engineering Gears Up for IPO with Rs 174 Crore Anchor Investment
Omnitech Engineering, a precision-engineered components manufacturer, has raised over Rs 174 crore from anchor investors for its upcoming IPO. The company's share-sale values them at over Rs 2,800 crore. The IPO will support debt repayment, facility expansion, and capital requirements.
- Country:
- India
Omnitech Engineering, known for producing precision-engineered components, has successfully raised over Rs 174 crore from anchor investors. This financial boost comes just a day before the public opening of their initial share-sale, a significant event for the Rajkot-based company.
Key players such as ICICI Prudential Mutual Fund, Nippon India MF, and Ashoka India Equity Investment Trust Plc, among others, participated in the anchor book. A BSE circular revealed that five domestic mutual funds received 54.42 percent of the allocation, which equates to nearly Rs 95 crore worth of shares.
The Rs 583-crore IPO is set to open on February 25, spanning two days with a price band of Rs 216 - 227 per share. Proceeds will upgrade manufacturing capabilities and meet capital expenditure needs. Management by Equirus Capital and ICICI Securities facilitates Omnitech’s market debut on March 5.
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