Om Galaxy IPO Day 1: Subscribed 0.62x; QIB demand surges 262%

3 min read | Published on 10 Sept 2026, 11:28 AM |Updated on 15 Sept 2026, 04:38 PM

Reviewed by

Ritika DScanX News Team

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Key Highlights

Om Galaxy IPO subscription reached 0.62x on Day 1.
QIB segment led demand at 1.81x, surging 262% from morning levels.
NII (bHNI) subscription stood at 0.57x, while Retail was at 0.04x.
The issue is priced between ₹85.00000 and ₹90.00000.

*this image is generated using AI for illustrative purposes only.

Om Galaxy IPO subscription crossed the 2x mark on Day 4, closing at 2.12x. QIB led the surge with a 72.7% jump to 5.37x, while NII bHNI demand spiked by 245.8%. The issue closes on 15-09-2026.

Subscription Status

The Om Galaxy IPO has seen steady progression in subscription levels over the four days of bidding. The issue crossed the 1x mark on Day 2 and has since seen incremental growth, primarily supported by institutional investors. On Day 4, total subscription ticked up from 1.10x to 2.12x, driven by strong activity in the QIB and NII categories during the final hours of bidding.

Day	Date	QIB	NII (bHNI)	NII (sHNI)	Retail	Total
Day 1	10-09-2026	1.81x	0.03x	0.57x	0.04x	0.62x
Day 2	11-09-2026	3.11x	0.04x	0.58x	0.09x	1.02x
Day 3	14-09-2026	3.11x	0.04x	0.58x	0.09x	1.02x
Day 4	15-09-2026	5.37x	0.83x	1.68x	0.58x	2.12x

Category-wise Breakdown

Qualified Institutional Buyers (QIB) remain the dominant force in the subscription, accounting for 5.37x of the total demand. Non-Institutional Buyers (NII) have shown increased activity on Day 4, with bHNI subscriptions rising to 0.83x and sHNI at 1.68x. Retail participation stands at 0.58x, while employee quota remains unsubscribed at 0x.

Intra-day Timeline

Subscription activity picked up pace after the morning lull. By 12:15 PM IST, the QIB segment had more than tripled its earlier position. Further gains were seen in the bHNI and Retail categories later in the day.

Time (IST)	QIB	NII (bHNI)	Retail	Total
11:15	0.50x	0.00x	0.01x	0.15x
12:15	1.81x	0.00x	0.01x	0.53x
13:15	1.81x	0.00x	0.02x	0.53x
14:15	1.81x	0.01x	0.02x	0.61x
15:15	1.81x	0.02x	0.03x	0.61x
16:15	1.81x	0.03x	0.04x	0.62x
17:15	1.81x	0.03x	0.04x	0.62x

Offer Details

Company: Om Galaxy
Price Band: ₹85.00000 - ₹90.00000
Issue Size: 272000 - 500000
Min Bid Qty: 3200
Open Date: 2026-09-10
Close Date: 2026-09-15

About the Company

Om Galaxy Limited is engaged in the design, development, and manufacturing of pipe fitting moulds and industrial moulds for the building materials and plastic & polymer processing industries. Operating for 17 years, the company also manufactures automotive moulds through its subsidiary OMG Auto Mould Private Limited and Hot Runner Systems through Infuse HRS Private Limited. It offers cleaning products under the brand name 'WONDRA'. The company operates seven manufacturing units across Vasai and Pune, Maharashtra, with around 630 employees.

Financial Highlights

Metric	FY 2024 (₹ crores)	FY 2025 (₹ crores)	FY 2026 (₹ crores)
Revenue from Operations	104.56	112.66	124.00
Total Profit	12.04	15.92	16.64
Total Assets	117.49	142.81	175.31

Objects of the Issue

Capital Expenditure: ₹74.66 crores towards setting up a New Manufacturing Unit to consolidate operations and expand production capacity.
Repayment of Borrowings: ₹14.00 crores for pre-payment/re-payment of outstanding borrowings to reduce indebtedness.
General Corporate Purposes: Funds for meeting business requirements, working capital, and contingencies.

Risk Factors

Customer Concentration Risk: Top 10 customers represented 84% of revenue in Fiscals 2025 and 2026.
Supplier Concentration: Top 10 suppliers accounted for 59% to 69% of total purchases in recent fiscals.
Manufacturing Consolidation Risk: Delays in setting up the new manufacturing unit could impact operations.
Raw Material Price Risk: Cost of materials represents over 39% of revenue; price hikes may not be fully passable.
New Business Segment Risk: The 'WONDRA' cleaning product segment reported negative EBITDA of ₹70.46 Lakhs in Fiscal 2026.