Om Galaxy IPO Day 4: Subscribed 1.16x; QIB leads at 3.21x
- Om Galaxy IPO subscription stands at 1.16x on Day 4.
- QIB demand leads at 3.21x, jumping 3.2% intraday.
- Retail participation surged 27.8% to 0.23x.
- Issue closes on 15-09-2026 with listing expected on 18-09-2026.
*this image is generated using AI for illustrative purposes only.
Om Galaxy IPO subscription stands at 1.16x on Day 4, with QIB demand accelerating to 3.21x. 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 1.16x.
| 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 | 3.21x | 0.28x | 0.78x | 0.23x | 1.16x |
Category-wise Breakdown
Qualified Institutional Buyers (QIB) remain the dominant force in the subscription, accounting for 3.21x of the total demand. Non-Institutional Buyers (NII) have shown increased activity on Day 4, with bHNI subscriptions rising to 0.78x and sHNI at 0.28x. Retail participation stands at 0.23x, 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 +3.2% from 3.11x to 3.21x. NII (bHNI) jumped +16.7% from 0.24x to 0.28x. Retail jumped +27.8% from 0.18x to 0.23x. Total jumped +5.5% from 1.10x to 1.16x.
| 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 |
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
Will the late-day surge in QIB and NII subscriptions on Day 4 indicate a potential oversubscription trend, or is the demand likely to plateau before the close?
How might the high customer concentration risk (84% revenue from top 10 clients) impact investor sentiment and long-term valuation post-listing?
Could the negative EBITDA from the new 'WONDRA' cleaning product segment deter retail investors despite the overall positive subscription momentum?
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