Om Galaxy IPO Day 4: Subscribed 2.12x; QIB surges 72%; NII bHNI jumps 245%
- Om Galaxy IPO subscription reached 2.12x on Day 4, closing on 15-09-2026.
- QIB demand surged 72.7% to 5.37x, leading the subscription.
- NII bHNI subscriptions jumped 245.8% to 0.83x.
- Retail participation rose 222.2% to 0.58x.
*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
On Day 4 (15-09-2026), subscription figures picked up pace after 11:15 AM. QIB jumped +72.7% from 3.11x to 5.37x. NII (bHNI) jumped +245.8% from 0.24x to 0.83x. Retail jumped +222.2% from 0.18x to 0.58x. Total jumped +92.7% from 1.10x to 2.12x.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 3.11x | 0.24x | 0.18x | 1.10x |
| 12:15 | 3.21x | 0.28x | 0.23x | 1.16x |
| 13:15 | 3.31x | 0.42x | 0.32x | 1.28x |
| 14:15 | 3.46x | 0.45x | 0.38x | 1.38x |
| 15:15 | 5.02x | 0.66x | 0.45x | 1.90x |
| 16:15 | 5.37x | 0.83x | 0.58x | 2.12x |
| 17:15 | 5.37x | 0.83x | 0.58x | 2.12x |
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.
What's Next
- Allotment Date: 2026-09-16
- Listing Date: 2026-09-18
How might the heavy reliance on QIB subscription (5.37x) versus moderate retail interest (0.58x) impact the stock's listing price volatility and initial trading volume?
Given the high customer concentration (84% from top 10 clients), what are the potential risks to Om Galaxy's revenue stability if key clients renegotiate contracts post-listing?
Will the proposed capital expenditure for the new manufacturing unit be sufficient to mitigate the raw material price risks, given that materials constitute over 39% of revenue?
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