Minerva Capital Research Solutions

Om Galaxy

ListedListed 18 Sep 2026BSE SMENSE: OMGCheck allotment
Current price₹ 87−3.33% since issue
Listing day+0.22%
Issue price
₹ 90
Issue size
₹ 105 Cr.
Min. investment
₹ 1,44,000
Listing price
₹ 90.2
Subscribed
2x
Lot size
1,600 shares
P/E
18.33
RoNW
22.13%
RoCE
20.39%
PAT margin
13.42%
EPS
₹ 4.91
Promoter stake
65.56%

About

Om Galaxy Ltd was started in 2008. It designs, develops and manufactures moulds and related products. A mould is the metal tool inside which plastic parts are formed, so the company is a supplier to other manufacturers rather than a consumer products company. Its range covers moulds for pipes and fittings, industrial moulds, automotive moulds, Hot Runner Systems and cleaning products. A Hot Runner System is the heated channel that carries molten plastic into the mould, and making these in house lets the company supply a complete moulding solution rather than only the tool. As on 30 June 2026 it had 77 SKUs under its brand WONDRA. Its products are used in building materials such as pipes, fittings and sanitaryware, in plastics and polymer processing, in automotive and auto components, and in general industrial and engineering work. The company and its subsidiaries operate from Vasai in Palghar district and from Pune, both in Maharashtra, and it has seven manufacturing units, all in Maharashtra. Apart from selling in India it exports to North America, Asia and Africa. As on 30 June 2026 it had an order book of about Rs 94.42 crore.

Timeline

  1. Opens
    10 Sep
    done
  2. Closes
    15 Sep
    done
  3. Allotment
    16 Sep
    done
  4. Refunds
    17 Sep
    done
  5. Demat credit
    17 Sep
    done
  6. Listing
    18 Sep
    done

Subscription

How many times each investor group bid for its share, as of 18 Sep 2026, 06:32 PM IST.

How much to apply for

The smallest and largest bids for each kind of investor at the upper price band.

Lots and amounts by investor type
Retail (Min)11,600₹ 1,44,000
Retail (Max)11,600₹ 1,44,000
HNI (Min)23,200₹ 2,88,000

Company overview

Financials

Financials by year
Assets175.31142.81117.49
Total Income124.68113.13105.12
Profit After Tax16.6415.9212.04
EBITDA32.8229.3624.6
NET Worth80.966.0149.89
Reserves and Surplus69.862.9347.3
Total Borrowing37.7925.1332.07

Strengths

  • Profit has grown every year, from Rs 12.04 crore in FY2024 to Rs 15.92 crore in FY2025 and Rs 16.64 crore in FY2026.
  • The margin is healthy for an engineering business, with a PAT margin of 13.42%, RoNW of 22.13% and RoCE of 20.39%.
  • EBITDA improved from Rs 24.60 crore in FY2024 to Rs 32.82 crore in FY2026.
  • The order book of about Rs 94.42 crore as on 30 June 2026 is large against total income of Rs 124.68 crore in FY2026, so a good part of the coming year is already booked.
  • Making Hot Runner Systems in house lets it offer a complete moulding solution, which most standalone mould makers cannot.
  • The product range is diversified across pipe fittings, industrial moulds, automotive moulds and cleaning products, with 77 SKUs under the WONDRA brand.
  • It exports to North America, Asia and Africa alongside its Indian sales.
  • Net worth has grown from Rs 49.89 crore in FY2024 to Rs 80.90 crore in FY2026.

Risks

  • Growth has slowed sharply. Total income rose 10% in FY2026 and profit after tax rose only 5%, from Rs 15.92 crore to Rs 16.64 crore.
  • Borrowing went up about 50% in one year, from Rs 25.13 crore in FY2025 to Rs 37.79 crore in FY2026.
  • All seven manufacturing units are in Maharashtra, so the company is concentrated in one state for its entire production.
  • Moulds are capital goods. Customers buy them when they are expanding or launching a new product, so orders dry up quickly when customer capital spending slows.
  • Rs 74.66 crore of the Rs 105 crore issue goes into a single new manufacturing unit meant to consolidate the existing ones. That is a large bet on one project, with execution risk and a gap before the new capacity earns.
  • A large part of demand comes from the building materials trade, through pipes, fittings and sanitaryware, which follows the construction cycle.
  • Promoter holding will come down from 100% to 65.56% after the issue.
  • This is an SME issue. One lot is 1,600 shares, which is Rs 1.44 lakh at the upper band of Rs 90, and SME shares usually trade in low volume after listing.

What the money is for

Objects of the issue
Capital Expenditure towards setting up a New Manufacturing Unit for consolidation of the Company’s existing manufacturing units and expansion of its production capacities74.66
Pre-payment/ repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company14
General Corporate Purposes—

Promoters

  • Opindersingh Bachattarsingh Baddhan
  • Jyothish Rajamohanan Nambiar
  • Sathyapalan Ayadathil Poyil
  • Gagandeep Opinder Singh Baddhan
  • Meena O Badhhan
Promoter holding100%→65.56%before → after the issue · down 34.44 points

Registrar, lead managers and documents

Listing on
BSE SME
Face value
₹ 5 a share
Registrar
Bigshare Services Private Limited
Lead managers
Indorient Financial Services
Basis of allotment
Open

IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.