Om Galaxy IPO Day 1: QIB demand surges 262%; total subscription at 0.53x
- Om Galaxy IPO subscription reached 0.53x on Day 1.
- QIB demand surged 262% to 1.81x by noon.
- Retail and NII categories remained largely inactive.
- Issue closes on September 15, 2026.
*this image is generated using AI for illustrative purposes only.
Om Galaxy IPO subscription ticked up to 0.53x on Day 1, driven by a significant surge in Qualified Institutional Buyer (QIB) interest. The QIB segment alone accounted for 1.81x of the issue size, marking a sharp acceleration from the morning's initial figures. Retail and Non-Institutional Investor participation remained minimal.
Subscription Status
The IPO saw a notable momentum shift mid-day as institutional investors stepped in. While the opening hour recorded modest traction, the QIB category accelerated rapidly, pushing the overall subscription multiple higher. Retail and NII segments contributed negligibly to the total demand.
Subscription Progression
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 10-09-2026 | 1.81x | 0.00x | 0.02x | 0.01x | 0.53x |
Intra-day Timeline
The subscription activity picked up pace after the morning lull. By 12:15 PM IST, the QIB segment had more than tripled its earlier position.
| 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 |
Offer Details
- Company: Om Galaxy
- Price Band: ₹85.00000 - ₹90.00000
- Issue Size: 272000 - 500000
- Min Bid Qty: 3200
- Open Date: 2026-09-10 10:00:00
- Close Date: 2026-09-15 16:00:00
About the Company
Om Galaxy Limited has been engaged in the design, development, and manufacturing of pipe fitting moulds and industrial moulds for 17 years. The company caters to the building materials and plastic & polymer processing industries. Through its subsidiary OMG Auto Mould Private Limited, it has manufactured automotive moulds for six years. Additionally, it produces Hot Runner Systems via Infuse HRS Private Limited and cleaning products under the brand 'WONDRA'. The company operates seven manufacturing units in Vasai and Pune, Maharashtra, employing around 630 people.
Financial Highlights
Om Galaxy reported consistent revenue growth over the last three fiscal years. Revenue from operations increased from ₹104.56 crores in FY2024 to ₹124.00 crores in FY2026. Profit before tax also saw an upward trend, rising from ₹16.01 crores in FY2024 to ₹22.34 crores in FY2026.
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations (₹ crores) | 104.56 | 112.66 | 124.00 |
| Profit Before Tax (₹ crores) | 16.01 | 21.64 | 22.34 |
| Total Profit (₹ crores) | 12.04 | 15.92 | 16.64 |
| Total Assets (₹ crores) | 117.49 | 142.81 | 175.31 |
Objects of the Issue
The proceeds from the IPO will be utilized for:
- Setting up a New Manufacturing Unit to consolidate operations and expand production capacity (₹74.66 crores).
- Pre-payment/re-payment of outstanding borrowings to reduce indebtedness (₹14.00 crores).
- General Corporate Purposes, including working capital requirements and marketing initiatives.
Risk Factors
Investors should note several material risks associated with Om Galaxy:
- Customer Concentration Risk: Top 10 customers accounted for 84% of revenue in Fiscals 2026 and 2025.
- Supplier Concentration: Dependence on limited suppliers for key raw materials, with top 10 suppliers representing up to 69% of purchases in FY2025.
- Manufacturing Consolidation Risk: Delays in setting up the new manufacturing unit could impact business continuity.
- Raw Material Price Risk: Cost of materials consumed represents over 39% of revenue, and price increases may not be fully passed on to customers.
- Geographic Concentration: All manufacturing units are located in Maharashtra, exposing the company to regional disruptions.
Will the strong QIB oversubscription on Day 1 persist through the final day of subscription, or is there a risk of institutional pullback given the negligible retail interest?
How might Om Galaxy's heavy reliance on its top 10 customers (84% of revenue) impact its valuation stability if key clients reduce orders post-IPO?
Given that over 39% of revenue is consumed by raw materials, how prepared is the company to absorb potential price volatility in plastics and polymers without eroding margins?
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