- Price band
- ₹85 – ₹90
- Issue size
- ₹105 Cr
- Lot size
- 1600 sh
- Bidding
- 10 – 15 Sep
- Grey market
- —
Face value ₹5.00
100% fresh capital
Lists 18 Sep 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.
The question this issue poses
In one sentence
Om Galaxy Limited makes precision injection and blow moulds for pipe fittings, sanitaryware and automotive components, and had 645 employees across the group as of 30 June 2026. Restated revenue was Rs 104.56 Cr in FY24, Rs 112.66 Cr in FY25 and Rs 124.00 Cr in FY26, with profit after tax of Rs 12.04 Cr, Rs 15.92 Cr and Rs 16.64 Cr over the same three years. The Rs 105 Cr issue was entirely fresh, with the offer-for-sale component recorded as nil, and promoter holding went from 100% before the issue to 65.56% after. On day 3 the book stood at 2.07 times overall; the shares listed on BSE SME at Rs 90.20 against a band top of Rs 90 and last traded at Rs 88.90 on 23 October 2026.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
A trade-off in both directions
63% of the scoring model was backed by disclosed data for Om Galaxy, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2008 · 4/5/6 Blue Chip No 5, Industrial Estate, Sativali Road, Village Valiv, Vasai, Thane, Maharashtra 401208, India · 645 employees
Om Galaxy designs and manufactures precision moulds — the steel tooling that plastics factories use to shape their products. Its core line is pipe-fitting and industrial moulds for makers of pipes, fittings and sanitaryware, which it has made for 17 years. Through subsidiary OMG Auto Mould it makes automotive moulds for auto-component makers, and through Infuse HRS it makes hot runner systems. In Fiscal 2026 it built 351 pipe-fitting and industrial moulds and 89 automotive moulds. A fourth line, added in Fiscal 2025, is finished cleaning products — mops, brushes, scrubbers, wipers, brooms — sold under the WONDRA brand, 77 SKUs as of June 30, 2026. Plants are in Vasai (Palghar) and Pune, Maharashtra. Domestic sales were 91.74% of Fiscal 2026 revenue from operations and exports, to North America, Asia and Africa, 5.10%.
Revenue is per-mould: customers order tooling built to their own part designs and Om Galaxy bills the job, so the business is order-book driven rather than volume driven. The consolidated order book was Rs 9,442.00 Lakhs as of August 15, 2026. Restated consolidated revenue from operations was Rs 12,400.14 Lakhs in Fiscal 2026 on EBITDA of Rs 3,282.14 Lakhs, a 26.33% EBITDA margin. The cost base is skilled labour and machine time — 645 people across the group as of June 30, 2026, with employee benefit expenses up 32.7% to Rs 2,968.53 Lakhs in Fiscal 2026. The structural constraint is premises and capacity: four manufacturing units, three of them rented, are to be consolidated into one owned Vasai plant, which the fresh issue largely funds.
The company on paper
- Legal name
- Om Galaxy Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 8 Oct 2008
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U33127MH2008PLC187382
- Sector
- Industrials · Precision injection and blow moulds (tooling) for pipe fittings, sanitaryware and automotive components
- Employees
- 645
- Registered office
- 4/5/6 Blue Chip No 5, Industrial Estate, Sativali Road, Village Valiv, Vasai, Thane, Maharashtra 401208, India
- Promoters
- Opindersingh Bachattarsingh Baddhan, Jyothish Rajamohanan Nambiar, Sathyapalan Ayadathil Poyil, Gagandeep Opinder Singh Baddhan, Meena O Baddhan
- Promoter holding, pre-issue
- 100.0%
- Promoter holding, post-issue
- 65.6%
- Website
- omgalaxymould.com
The numbers
Financial performance
Revenue has compounded at 8.9% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹105 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹105 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 5,84,000
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 34.4% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹90.00
- Listed at
- ₹90.20
- Listing gain
- up 0.2%
- Since listing
- down 4.5%
- Against the issue price
- down 4.3%
Trading at ₹86.15 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 3,200
- At cut-off price
- ₹90.00
- Amount blocked
- ₹2,88,000
One lot is 1600 shares at ₹1,44,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,88,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~100%
chance of one lot, per application
- Retail subscription
- 0.62×
- Applicants per share available
- 0.6× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹90.20
listed at, 0.2% against the issue price
- Issue price
- ₹90.00
- Premium said
- —
- If allotted 1600 shares
- ₹320
Listing-day figures are as reported by the exchanges.
Our read
The case for and against
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
What works
- EBITDA margin was 23.53% in FY24 (Rs 24.60 Cr on Rs 104.56 Cr), and was higher in each of the two later years on record: 26.06% in FY25 (Rs 29.36 Cr on Rs 112.66 Cr) and 26.47% in FY26 (Rs 32.82 Cr on Rs 124.00 Cr).
- Net worth was Rs 49.13 Cr in FY24 and rose in each of the two following years, to Rs 64.78 Cr in FY25 and Rs 80.90 Cr in FY26 — 64.67% higher across the three years the record carries.
- The issue raised Rs 105 Cr entirely as fresh capital, with the offer-for-sale component recorded as nil. That Rs 105 Cr is 1.30 times the FY26 net worth of Rs 80.90 Cr, or Rs 24.10 Cr more than it.
- The record's business description puts the consolidated order book at Rs 9,442.00 Lakhs (Rs 94.42 Cr) as at 15 August 2026, which is 76.14% of the Rs 12,400.14 Lakhs of restated consolidated revenue from operations it reports for Fiscal 2026.
What to weigh against it
- Profit after tax rose 4.52% in FY26, from Rs 15.92 Cr to Rs 16.64 Cr, against a rise of 32.23% the year before (Rs 12.04 Cr to Rs 15.92 Cr). Revenue over FY26 rose 10.07%, from Rs 112.66 Cr to Rs 124.00 Cr, so the PAT margin was 14.13% in FY25 (Rs 15.92 Cr on Rs 112.66 Cr) and 13.42% in FY26 (Rs 16.64 Cr on Rs 124.00 Cr).
- Total borrowings do not move one way across the record: Rs 32.07 Cr in FY24, Rs 25.13 Cr in FY25 (down 21.64%) and Rs 37.79 Cr in FY26 (up 50.38% on FY25, and 17.84% above the FY24 level). Measured against net worth, borrowings were 0.65x in FY24 (Rs 32.07 Cr on Rs 49.13 Cr), 0.39x in FY25 (Rs 25.13 Cr on Rs 64.78 Cr) and 0.47x in FY26 (Rs 37.79 Cr on Rs 80.90 Cr).
- The record states employee benefit expenses rose 32.7% to Rs 2,968.53 Lakhs in Fiscal 2026, which is 23.94% of the Rs 12,400.14 Lakhs of Fiscal 2026 revenue from operations. Revenue over the same year rose 10.07%, from Rs 112.66 Cr to Rs 124.00 Cr.
- On day 3 — the only subscription day the record carries — the retail portion stood at 0.62 times and the non-institutional portion at 1.07 times, against 5.37 times for QIB and 2.07 times overall. The shares listed at Rs 90.20 against a band top of Rs 90, closed day one at Rs 90.77, and last traded at Rs 88.90 on 23 October 2026, 1.22% below the Rs 90 issue price.
Easy to miss in the prospectus
- The record holds no operating cash flow for any of the three years, and no total assets or total expenses figures, so the Rs 16.64 Cr of FY26 profit after tax cannot be set against cash generated or against a balance-sheet total within it.
- There is no valuation block and no peer set in the record, so the Rs 85–90 band is not placed against earnings or against comparable companies here. The allocation split, anchor book and grey-market series are likewise absent, and subscription is recorded for day 3 only.
- The record's business description states that of the group's four manufacturing units, three are rented; it gives no lease terms, rents or expiry dates for them.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Indorient Financial Services Limited
- RegistrarAllotment status is checked on the registrar's own site
- Bigshare Services Private Limited
How these figures were checked
Reconciled to Om Galaxy's own prospectus and to exchange disclosures, then cross-checked against 5 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Om Galaxy Limited — Red Herring Prospectus dated September 4, 2026 (447pp, issuer's own website) · read 16 Oct 2026
- BSE Ltd — cash-market bhavcopy, 18 September 2026 (listing day; ISIN, series MT, OHLC) · read 16 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
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