New Delhi, 05 March (H.S.): Shares of Omnitech Engineering, a manufacturer and supplier of high-precision engineered components and assemblies, listed at steep discounts on both major Indian bourses today, delivering a bitter blow to IPO investors who subscribed at 227 rupees per share.

The stock debuted on the BSE at 205 rupees—a 9.70% discount—and on the NSE at 202 rupees, reflecting an 11% markdown from the issue price. Although buying interest briefly propelled it to 224.70 rupees, renewed selling pressure dragged it back to 202 rupees, with the shares closing the day at 204.93 rupees. This resulted in a first-day loss of 22.07 rupees, or 9.72%, per share for IPO allottees.

Omnitech's ₹583 crore IPO, open for subscription from February 25 to 27, elicited a tepid response, achieving only 1.20 times oversubscription overall. Qualified institutional buyers (QIBs) showed enthusiasm, subscribing their portion 3 times over, but non-institutional investors (NIIs) managed just 0.77 times, while retail investors lagged at a mere 0.35 times.

The issue comprised 25,685,062 equity shares of ₹5 face value, including 18,416,340 fresh shares and 7,268,722 offered for sale (OFS). Proceeds will fund debt repayment, working capital needs, and general corporate purposes.

Financially, the Gujarat-based firm, which serves sectors like automotive, aerospace, pharmaceuticals, food processing, and general manufacturing, has shown volatility. Net profit swung from ₹32.29 crore in FY23 to ₹18.91 crore in FY24 before rebounding to ₹43.87 crore in FY25; for H1 FY26 (April-September 2025), it stood at ₹27.78 crore.

Revenue trended upward overall, from ₹183.71 crore in FY23 and ₹181.95 crore in FY24 to ₹349.71 crore in FY25, and ₹236.69 crore in H1 FY26. However, debt levels escalated sharply—from ₹88.81 crore at FY23-end to ₹230.49 crore in FY24, ₹330.63 crore in FY25, and ₹382.91 crore by September 30, 2025—raising concerns amid the weak listing .

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Hindusthan Samachar / Jun Sarkar