Omnitech Engineering Limited will open its initial public offering on February 25, with anchor investor bidding scheduled for February 24. The issue will close on February 27.
The company has fixed the price band at ₹216–227 per share. The offer comprises a ₹418 crore fresh issue and a ₹165 crore offer for sale by promoter Udaykumar Arunkumar Parekh.
Under the book building structure, not more than 50% of the net offer will be allocated to qualified institutional buyers (QIBs). Of this, up to 60% may be allocated to anchor investors. At least 35% of the net offer will be reserved for retail investors and a minimum of 15% for non-institutional investors.
Five percent of the net QIB portion will be allocated to mutual funds, with additional carve-outs for domestic mutual funds, life insurance companies and pension funds within the anchor allocation.
Eligible employees will receive a ₹11 per share discount in the reserved portion. All investors, except anchor investors, must apply through the ASBA process. The shares are proposed to be listed on BSE and NSE. Equirus Capital and ICICI Securities are the book running lead managers.
