Omnitech Engineering IPO gets 13% subscription

New Delhi: The initial public offer of Omnitech Engineering Ltd, a manufacturer of precision-engineered components, received 13 per cent subscription on the second day of bidding on Thursday.

The IPO received bid for 24,94,866 shares against 1,89,09,890 shares on offer, as per NSE data. Qualified Institutional Buyers (QIBs) category fetched 13 per cent subscription, while Retail Individual Investors (RIIs) portion got subscribed 13 per cent.

Non-institutional investors quota received 11 per cent subscription. Omnitech Engineering on Tuesday raised over Rs 174 crore from anchor investors.

The company’s Rs 583-crore initial share sale will conclude on February 27. The price band has been fixed at Rs 216-227 per share, valuing the company at over Rs 2,800 crore.