Om Galaxy IPO Day 2: Subscribed 0.98x; QIB demand leads at 3.01x
- Om Galaxy IPO subscription stands at 0.98x on Day 2.
- Qualified Institutional Buyers (QIBs) lead demand with a 3.01x subscription.
- Retail participation increased to 0.07x, up from 0.06x earlier in the day.
- The issue remains open until September 15, 2026, with listing scheduled for September 18.
*this image is generated using AI for illustrative purposes only.
Om Galaxy IPO subscription stood at 0.98x on Day 2, with Qualified Institutional Buyers (QIBs) leading the demand at 3.01x. The issue remains open until September 15, 2026.
Subscription Status
The Om Galaxy IPO saw a steady increase in overall subscription from 0.62x on Day 1 to 0.98x on Day 2. This acceleration was primarily fueled by institutional investors, who maintained their strong interest. While the total subscription is approaching the fully subscribed mark, retail and non-institutional investor interest has remained relatively subdued, though retail participation ticked up slightly during the day.
Subscription Progression
| 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 | 3.01x | 0.03x | 0.58x | 0.07x | 0.98x |
Category-wise Breakdown
Qualified Institutional Buyers continue to dominate the subscription process. As of the close of trading on Day 2, the QIB segment was subscribed 3.01 times, indicating strong confidence among large investors. The Non-Institutional Individual Investors (NII) category was subscribed 0.61 times in aggregate, with High Net-worth Individuals (bHNI) accounting for 0.58x and Small High Net-worth Individuals (sHNI) contributing 0.03x. The Retail segment showed minimal traction, standing at just 0.07x. Employee subscription remained at 0x.
Intra-day Timeline
The following table details the subscription status for Day 2 (11-09-2026):
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 3.01x | 0.03x | 0.06x | 0.97x |
| 12:15 | 3.01x | 0.03x | 0.07x | 0.98x |
| 13:15 | 3.01x | 0.03x | 0.07x | 0.98x |
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
What's Next
- Allotment Date: 2026-09-16
- Listing Date: 2026-09-18
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 sector, including pipes, fittings, and sanitaryware, as well as the plastic and polymer processing industry. 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 for four years and cleaning products under the brand 'WONDRA'. The company operates seven manufacturing units across Vasai and Pune in Maharashtra, employing around 630 people.
Financial Highlights
Om Galaxy reported consolidated revenue from operations of ₹124.00 crores for the fiscal year ended 31/03/2026, up from ₹112.66 crores in FY2025 and ₹104.56 crores in FY2024. The total profit for FY2026 was ₹16.64 crores, compared to ₹15.92 crores in FY2025 and ₹12.04 crores in FY2024.
| 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 |
| Profit Before Tax | 16.01 | 21.64 | 22.34 |
| 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 from four existing units into a single location and expand production capacity.
- Debt Repayment: ₹14.00 crores for pre-payment/re-payment of outstanding borrowings to reduce indebtedness and improve debt-equity ratio.
- General Corporate Purposes: Funds for meeting business requirements, working capital, operating expenses, and marketing initiatives.
Risk Factors
- Customer Concentration Risk: Top 10 customers represented 84% of revenue in Fiscals 2026 and 2025, creating vulnerability to order reductions.
- Supplier Concentration: Top 10 suppliers accounted for 69% of total purchases in Fiscal 2025, posing supply chain risks.
- Manufacturing Consolidation Risk: Setting up a new unit involves execution and relocation risks that could affect business continuity.
- Raw Material Dependency: Cost of materials consumed represented 43.55% of revenue in recent fiscals, with limited ability to pass on cost increases.
- New Business Segment Risk: The 'WONDRA' cleaning product segment reported negative EBITDA of ₹70.46 Lakhs for Fiscal 2026.
Will the heavy reliance on QIB subscriptions (3.01x) versus weak retail interest (0.07x) lead to immediate listing gains or potential selling pressure upon debut?
How might the consolidation of four manufacturing units into one new facility impact Om Galaxy's operational efficiency and short-term production capacity during the transition?
Given that the top 10 customers account for 84% of revenue, what strategies is Om Galaxy employing to diversify its client base and mitigate concentration risk post-IPO?
20
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
