OE
Omnitech Engineering
Book Building issueMainboardBSE₹583 Cr issue
-9.69%
Listing gain over issue price
Issue size
₹583 Cr
1 lot at cut-off
₹14,982
Lot size
66shares
Open
25 Feb 2026
Close
27 Feb 2026
Allotment
02 Mar 2026
Listing
05 Mar 2026
Listing performance
Issue price
₹227
Listed at
₹205
Listing-day close
₹205.15
Latest price
₹503.65
Listing gain
-9.69%
Return since listing
+121.87%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
₹0
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 05 Mar 2026 | ₹0 | 0.00% | ₹0 | ₹227 | ₹0 |
| 04 Mar 2026 | ₹0 | 0.00% | ₹0 | ₹227 | ₹0 |
| 03 Mar 2026 | −₹10 | −4.41% | ₹0 | ₹217 | −₹660 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 25 Feb 2026 – 27 Feb 2026
- Listing date
- 05 Mar 2026
- Face value
- ₹5 per share
- Issue price
- ₹227 per share
- Lot size
- 66 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹583 Cr
- Market cap at offer price
- ₹2,807 Cr
- Promoter holding
- 94.08% → 74.19% pre-issue → post-issue
- ISIN
- INE0UH301010
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Equirus Capital Pvt.Ltd.
- Registered office
- Plot No.2500, Kranti Gate Main Road, GIDC Lodhika Ind Estate, Kalawadd Rd, Metoda, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 76,91,629 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 66 shares per lot, in multiples, at ₹227
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 66 | ₹14,982 |
| Retail (max) | 13 | 858 | ₹1,94,766 |
| S-HNI (min) | 14 | 924 | ₹2,09,748 |
| S-HNI (max) | 66 | 4,356 | ₹9,88,812 |
| B-HNI (min) | 67 | 4,422 | ₹10,03,794 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
76,91,629
Anchor portion
₹175 Cr
at ₹227 per share
Valuation and performance
Valuation at offer price
₹227 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.17 | 4.49 |
| P/E (×) | 54.44 | 50.56 |
| Price to book (×) | 11.45 | — |
| Market cap | — | ₹2,807 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 21.46%
- ROCE
- 16.08%
- Debt / equity
- 1.60
- PAT margin
- 12.54%
- EBITDA margin
- 34.31%
- NAV per share
- ₹19.82
- Price to book
- 11.45
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Omnitech Engineering
Omnitech Engineering Limited (formerly Omnitech Engineering, a partnership firm founded in 2006 and converted to a private limited company in 2021, then to a public limited company in 2024) manufactures highly engineered precision machined components and assemblies for safety-critical applications. With 19 years of experience, the company supplies to over 256 customers across 24 countries including the United States, India, UAE, Germany, Bulgaria, Sweden, UK, France, Australia, and Canada. The company generates significant revenue from exports (75-79% of revenue outside India) and operates three manufacturing facilities in Rajkot, Gujarat. Revenue from operations for Fiscal 2025 was ₹3,429.13 million with profit after tax of ₹438.65 million.
Company Analysis
from RHPOmnitech Engineering Limited is a high precision engineered components and assemblies manufacturer serving global customers across energy, motion control & automation, industrial equipment systems, and other industries.
Omnitech Engineering Limited (formerly Omnitech Engineering, a partnership firm founded in 2006 and converted to a private limited company in 2021, then to a public limited company in 2024) manufactures highly engineered precision machined components and assemblies for safety-critical applications. With 19 years of experience, the company supplies to over 256 customers across 24 countries including the United States, India, UAE, Germany, Bulgaria, Sweden, UK, France, Australia, and Canada. The company generates significant revenue from exports (75-79% of revenue outside India) and operates three manufacturing facilities in Rajkot, Gujarat. Revenue from operations for Fiscal 2025 was ₹3,429.13 million with profit after tax of ₹438.65 million.
EnergyMotion Control and AutomationIndustrial Equipment SystemsMetal formingOther diversified industrial applications
Objects of the Issue
- Repayment and/or pre-payment, in full or in part, of outstanding borrowings availed by the Company ₹500.00 million p.19
- Setting up New Projects at Proposed Facility 1 and Proposed Facility 2 ₹2,335.58 million p.19
- Funding towards Capital Expenditure at Existing Facility 2 ₹186.98 million p.19
- General corporate purposes p.19
- Funding Capital Expenditure at Existing Facility 2 for purchase and installation of solar panels on the roof-top and purchase of new equipment/machinery for Existing Facility 2 Part of ₹ 2,522.56 million p.55
- Setting up New Projects at Proposed Facility 1 and Proposed Facility 2 Part of ₹ 2,522.56 million p.55
- Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by our Company ₹500.00 million p.127
- Setting up of new manufacturing facilities at Proposed Facility 1 ₹1,328.44 million p.126
- Setting up of new manufacturing facilities at Proposed Facility 2 ₹1,007.14 million p.126
- Funding towards capital expenditure requirements for purchase and installation of solar panels on the roof-top at, and, purchase of new equipment / machinery for, Existing Facility 2 ₹186.98 million p.126
- General corporate purposes [●] p.126
- Funding Capital Expenditure at Existing Facility 2 for purchase and installation of solar panels on the roof-top at Existing Facility 2, and purchase of new equipment / machinery for Existing Facility 2 p.273
- Funding Setting up New Projects at Proposed Facility 1 and Proposed Facility 2 p.273
- Full or partial repayment or pre-payment of certain borrowings availed by our Company up to ₹500.00 million p.273
- Not disclosed in this document section
Issue Structure
- Total Issue
- ₹5,830.00 million
- Fresh Issue
- ₹4,180.00 million
- Offer for Sale
- ₹1,650.00 million
- Face Value
- ₹5 per share
Business Model
The company manufactures and supplies customised high precision engineered components and assemblies to global customers on a build-to-order basis, operating primarily through purchase orders and select master supply agreements and warehouse supply agreements with customers.
Business Segments
Supply of high precision engineered components and assemblies to energy sector customers
Supply of high precision engineered components and assemblies to motion control and automation sector customers
Supply of high precision engineered components and assemblies to industrial equipment systems sector customers
Supply of high precision engineered components and assemblies to other diversified industrial applications including metal forming
Supplies of products and services to customers in oil and gas exploration sector
Manufacturing and supply of motion control and automation components
Manufacturing and supply of industrial equipment systems components
Metal forming and other diversified industrial applications
Manufactures customised high precision engineered components and assemblies for energy, motion control & automation, industrial equipment systems, metal forming and other diversified industrial applications
Supplies with end application primarily in oil & gas, wind energy and power sector; includes drilling, exploration and refining products for upstream, midstream and downstream applications; braking systems, drive systems, and pumping units tailored for renewable energy, electricity generation, and power production
Primarily includes supplies with electro-mechanical systems to end applications primarily in drives and motors, flow control, motion control, sensors, automation and hydraulics; includes actuator systems, motion control and drive technologies, robotic systems, and advanced conveying and handling systems
Includes supplies with end application primarily in aerospace ground support equipment, construction equipment, machineries for diverse applications, and components for winches and hoists; includes hydraulic and pneumatic systems designed for airport ground support operations and heavy-duty industrial equipment
Includes supplies with end application primarily in metal forming and other diversified industrial applications; includes products for automotive, manufacturing, medical, and consumer electronics
Manufacturing of turned and machined parts for various industries including automotive, industrial, oil & gas, and aerospace
Supplies drilling, exploration and refining products for upstream, midstream and downstream applications; braking systems, drive systems, and pumping units for renewable energy, electricity generation, and power production
Supplies actuator systems, motion control and drive technologies, robotic systems, and advanced conveying and handling systems; also serves mining and earth moving equipment
Supplies hydraulic and pneumatic systems for airport ground support operations and heavy-duty industrial equipment
Metal forming and other diversified industrial applications serving automotive, manufacturing, medical, and consumer electronics
Supplies with end application primarily in oil & gas, wind energy and power sector
Supplies with electro-mechanical systems to end applications primarily in drives and motors, flow control, motion control, sensors, automation and hydraulics
Supplies with end application primarily in aerospace ground support equipment, construction equipment, machineries for diverse applications, and components for winches and hoists
Supplies with end application primarily in metal forming and other diversified industrial applications
SWOT Analysis
Strengths
- • Established manufacturer with 19 years of experience in precision engineering(p.18)
- • Diversified global customer base across 24 countries(p.18)
- • Strong order book position indicating future revenue visibility(p.34)
- • Positive debt service coverage ratio demonstrating repayment capability(p.36)
- • Diverse end-use customer base across energy, motion control & automation, and industrial equipment systems(p.52)
- • High repeat customer rate (96.87% of revenue from 107 repeat customers in 6M Sep 2025)(p.62)
- • Established long-term relationships with marquee customers across multiple industries(p.62)
- • Strong capacity utilization across manufacturing facilities (70.86% to 74.21% in 6M Sep 2025)(p.59)
- • Product development capability with dedicated 80-member product development team(p.62)
- • Significant growth in revenue contribution from energy segment (42.35% in FY2025, up from 30.18% in FY2024)(p.52)
- • Rapid revenue growth and market position(p.132)
- • Significant order book growth and customer base expansion(p.132)
- • Global customer reach and diversified end-markets(p.132)
- • Expanding manufacturing capacity and asset base(p.132)
- • Multiple international quality certifications(p.133)
- • Beneficiary of global supply chain diversification trends(p.132)
- • Strong marquee customer relationships across diverse end-user industries(p.169)
- • Global delivery model supporting export-driven operations(p.169)
- • Manufacturing facilities with scale, flexibility, and strategic location near Mundra Port(p.169)
- • Diversified product portfolio enabled by product development capabilities(p.169)
- • Experienced promoter and management team with strong domain expertise(p.169)
- • Consistent financial performance and strong growth trajectory(p.170)
- • Rapid revenue growth, recognized as one of India's fastest growing precision engineering manufacturers(p.256)
- • Strong customer relationships with marquee global clients and high repeat business(p.262)
- • Global delivery model with export operations across 24 countries and warehouse in Houston, USA(p.263)
- • Diversified manufacturing capabilities across multiple customer end-use industries(p.256)
- • Advanced manufacturing facilities with precision capabilities and quality certifications(p.260)
- • Strong EBITDA margins maintained above 30% despite rapid growth(p.265)
- • Experienced founder and leadership team with deep industry expertise(p.254)
- • Strong order book of ₹17,647.84 million representing 551% of FY2025 annual revenue(p.257)
- • Extensive quality certifications across multiple facilities(p.307)
- • Industry-recognized supplier excellence awards(p.307)
- • Aerospace and defense certifications enabling market access(p.307)
- • Oil and gas sector certifications broadening customer base(p.307)
- • Strong promoter commitment through personal guarantees(p.309)
- • Experienced management with deep industry background(p.319)
- • High repeat customer base with strong revenue concentration(p.425)
- • Diversified end-user industry exposure reducing single-sector dependency(p.421)
- • Strong export presence and international customer base(p.421)
- • Significant revenue growth and order book expansion(p.421)
Weaknesses
- • High customer concentration with top 10 customers representing majority of revenue(p.32)
- • Geographic concentration with all facilities in Rajkot, Gujarat(p.35)
- • Significant debt burden limiting operational flexibility(p.36)
- • Unsecured loans from promoters that may be recalled at any time(p.39)
- • Negative operating cash flows in Fiscal 2025(p.39)
- • Reliance on leased properties for operations(p.42)
- • High employee attrition rate impacting operational stability(p.42)
- • Significantly increased working capital requirements (₹2,655.88 million in FY2025 from ₹959.95 million in FY2024, representing 283 days of revenue)(p.51)
- • Negative operating cash flow in FY2025 (₹-689.85 million) requiring additional capital raise(p.51)
- • High inventory carrying costs (111-191 days of revenue) due to long lead times and price variation clauses(p.51)
- • Past delays in payment of statutory dues (29 instances in FY2025 totaling ₹105.45 million)(p.63)
- • Increasing product rejection instances (93 rejections in FY2024, 106 rejections in 6M Sep 2025 with increasing monetary impact)(p.64)
- • Heavy reliance on top 10 suppliers for 52.48% of material purchases in FY2025 (up from 43.32% in FY2024)(p.56)
- • Rising import dependency (42.21% of materials imported in FY2025 vs 8.04% in FY2024, primarily from China at 21.90%)(p.57)
- • Extended trade receivables collection period (142 days in 6M Sep 2025, up from 136 days in FY2025)(p.54)
- • Subsidiary Novatro Techsolutions incurring losses (₹0.93 million in FY2025, ₹0.90 million in 6M Sep 2025)(p.69)
- • High leverage and debt burden(p.127)
- • Concentrated customer base dependency(p.125)
- • Capital intensive business model requiring ongoing investment(p.133)
- • Operational expansion dependent on project execution(p.137)
- • Concentration of revenue from top 10 customers at 56.04% in first half FY2026(p.290)
- • Significant dependence on limited number of material suppliers(p.274)
- • High net debt to equity ratio of 1.65 times as of September 30, 2025(p.265)
- • Elevated net working capital days at 256.39 days in first half FY2026(p.265)
- • High reliance on imports of raw materials (37.29% in first half FY2026)(p.274)
- • High financial leverage with significant debt burden(p.349)
- • Cost overrun on recent facility construction(p.308)
- • High debt service costs impacting profitability(p.350)
- • Concentration of shareholding with promoter selling(p.337)
- • Recently incorporated subsidiary with early-stage operations(p.315)
- • High dependence on energy industry, particularly oil & gas segment(p.421)
- • High working capital requirements and capital intensity(p.420)
- • Significant revenue concentration from top customers(p.455)
- • Geographic concentration of manufacturing in single location(p.421)
- • High material import dependence, particularly from China(p.422)
- • High debt levels and increasing financial leverage(p.442)
Opportunities
- • Expanding global precision engineering market with strong CAGR(p.18)
- • Growing Indian precision engineering export market(p.18)
- • Entry into new high-growth segments including defence, aerospace and semiconductors(p.39)
- • Capacity expansion through new manufacturing facilities(p.19)
- • Expansion of capacity through new manufacturing facilities (Proposed Facility 1 and Proposed Facility 2 would increase annualized machining capacity to 3,301,584 machine hours)(p.58)
- • Growth in precision engineering industry with increasing demand from energy sector (74.07% of Order Book as at Sep 30, 2025)(p.53)
- • Opportunity to penetrate motion control & automation and industrial equipment systems segments (currently 26.82% and 18.54% of revenue respectively)(p.52)
- • Solar panel installation at existing facilities to reduce power costs (₹36.40 million allocation from Net Proceeds)(p.71)
- • Potential for inorganic acquisition to improve manufacturing capabilities and geographic reach(p.70)
- • Software development through subsidiary (Novatro Techsolutions with 15-member team developing automation software for manufacturing industries)(p.62)
- • Global precision engineering market growth(p.132)
- • India export market expansion for precision engineering(p.132)
- • Government support through PLI and Make in India schemes(p.132)
- • Capacity expansion to capture new market segments(p.136)
- • Order book momentum enabling revenue growth(p.132)
- • Expansion into new high-growth end-user sectors including defence, space, semiconductors, and aerospace(p.267)
- • Global precision engineering market growing at 9.9% CAGR (CY2025-CY2028)(p.267)
- • Indian precision engineering market expected to grow at 11.5% CAGR (CY2024-CY2028)(p.268)
- • Expansion of geographic presence through planned warehouses in Europe and Middle East(p.269)
- • Capacity augmentation to 3.3 billion machine hours following completion of proposed facilities(p.272)
- • Backward and forward integration through metal forming capabilities and software-enabled automation(p.272)
- • Strategic acquisition opportunities to strengthen capabilities and expand market presence(p.273)
- • Government support through PLI scheme and Make in India initiatives(p.241)
- • Expansion into software and IT services through subsidiary(p.315)
- • Geographic expansion through US subsidiary(p.315)
- • Capacity expansion underway with new facilities(p.308)
- • Multiple certifications enabling market diversification(p.307)
- • Capacity expansion through proposed new manufacturing facilities(p.421)
- • Growth in renewable energy and wind energy sectors(p.421)
- • Expanding international customer base and export markets(p.421)
- • Strong order book growth indicating future revenue potential(p.450)
Threats
- • Tariff and anti-outsourcing policies impacting pricing and volumes(p.33)
- • Order cancellation and potential delays impacting revenue realization(p.33)
- • High exposure to North American market creating concentration risk(p.44)
- • Foreign currency exchange rate fluctuations affecting profitability(p.38)
- • Credit rating downgrade risk increasing borrowing costs(p.36)
- • Regulatory risks from new labour codes and compliance requirements(p.42)
- • Potential disruption from natural calamities and local flooding(p.35)
- • Working capital intensity requiring continuous financing(p.45)
- • Cyclical energy sector dependency (74.07% of Order Book from oil & gas exploration, dependent on crude oil prices and economic conditions)(p.53)
- • High competitive intensity in precision engineering from established players (Azad Engineering, Unimech Aerospace, PTC Industries, Dynamatic Technologies, MTAR Technologies)(p.63)
- • Foreign exchange volatility risk with significant import exposure (42.21% of materials imported, primarily from China and UAE)(p.57)
- • Trade restrictions and tariffs on China imports (countervailing duty and anti-dumping duty already imposed by India on Chinese items)(p.57)
- • Logistics service provider dependence with no long-term agreements (transportation, freight and forwarding costs 3.42%-3.88% of total expenses)(p.55)
- • Geopolitical risks including India-China tensions and Russia-Ukraine conflict affecting trade and supply chains(p.79)
- • Regulatory compliance risks with history of statutory dues payment delays and potential for increased regulations(p.63)
- • Potential manufacturing facility disruptions from labor unrest, maintenance shutdowns, or machinery breakdowns(p.58)
- • Environmental compliance and contamination risks with potential for substantial remediation liabilities(p.68)
- • Global market cyclicality and macroeconomic volatility(p.132)
- • Project execution risks and cost overruns(p.127)
- • Supply chain and vendor dependency(p.159)
- • Equipment procurement delays and availability risks(p.36)
- • Regulatory compliance and permit acquisition uncertainties(p.138)
- • Intense competition from established peers in precision engineering sector(p.292)
- • Exposure to foreign exchange fluctuations with 78.98% revenue from outside India(p.256)
- • Reliance on imported materials creates exposure to global supply chain disruptions and embargoes(p.274)
- • Loss of major customers would significantly impact revenue given 56% concentration(p.290)
- • Input cost volatility and pricing pressures in competitive market(p.292)
- • Global economic cycles and cyclicality of key end-user industries(p.267)
- • Regulatory compliance requirements across multiple jurisdictions for exports(p.297)
- • Heavy dependence on limited customer base(p.302)
- • Operational concentration in single geographic location(p.302)
- • Exposure to foreign exchange volatility(p.370)
- • Industry cyclicality and macroeconomic dependence(p.342)
- • Input cost volatility affecting margins(p.350)
- • Downturn in energy industry and oil & gas segment(p.421)
- • Foreign exchange rate fluctuations and currency risk(p.422)
- • Import tariffs and trade restrictions, particularly from China(p.423)
- • Intense competitive environment with larger, better-resourced competitors(p.423)
- • Dependence on limited number of material suppliers(p.455)
- • Risk of loss of key customers impacting operations(p.421)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Udaykumar Arunkumar Parekh | Promoter and Promoter Selling Shareholder | 93.04% | — |
| Dharmi A Parekh | Promoter | Negligible | — |
| Udaykumar Arunkumar Parekh | Promoter and Promoter Group | 94.08% | — |
| Udaykumar Arunkumar Parekh | Promoter | 93.04% | [●] |
| Dharmi A Parekh | Promoter | Negligible | [●] |
| Indumati Arunbhai Parekh | Promoter Group | 0.10% | [●] |
| Parekh Riddhi Paras | Promoter Group | 0.95% | [●] |
| Udaykumar Arunkumar Parekh | Promoter | — | — |
| Udaykumar Arunkumar Parekh | Founder/Promoter | — | — |
| Udaykumar Arunkumar Parekh | Promoter | 93.04% | — |
| Dharmi A Parekh | Promoter | Negligible | — |
| Udaykumar Arunkumar Parekh | Promoter | 93.04% | — |
| Dharmi A. Parekh | Promoter | 0.00% | — |
| Udaykumar Arunkumar Parekh | Promoter Selling Shareholder | — | — |
Leadership
Udaykumar Arunkumar Parekh · Chairman and Managing Director
Paras Mukundrai Parekh · Chief Financial Officer
Bhoomi Manharbhai Vadhavana · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.