Om Galaxy IPO Opens at ₹85–90: ₹105 Crore Issue to Fund New Plant, Capacity Expansion

Om Galaxy Limited, a Maharashtra-based precision mould design and manufacturing company, has opened its initial public offering (IPO) to raise up to ₹105 crore at the upper end of the price band. The issue opened on September 10 and will close on September 15, with the company's equity shares proposed to be listed on the BSE SME platform.

The IPO comprises 1,16,67,200 equity shares with a face value of ₹5 each, priced at ₹85–₹90 per share. Anchor bidding was conducted on September 9. The issue has allocations for anchor investors, qualified institutional buyers, non-institutional investors and individual investors, besides a market-maker reservation.

Founded in 2008, Om Galaxy manufactures pipe-fitting and industrial moulds for the building materials, plastics and polymer-processing industries. Through subsidiaries, it has expanded into automotive moulds and hot runner systems. The group operates seven manufacturing units across Maharashtra and can produce large moulds of up to 64 cavities and 6–7 tonnes.

The company has also diversified into consumer cleaning products through its WONDRA brand, which had 77 SKUs as of June 30, 2026. However, the core mould business remains dominant, with pipe-fitting moulds contributing 73.62% of FY26 revenue, followed by automotive moulds at 14.29%.

The IPO's biggest focus is expansion. Around ₹74.66 crore of the proceeds will fund a new manufacturing facility, consolidation of existing units and capacity expansion, while up to ₹14 crore will be used to repay or prepay borrowings. The proposed integrated facility at Poman, Vasai, is expected to significantly increase installed capacity from around 1,146 tonnes to 3,160 tonnes, with commercial production targeted for 2027.

Om Galaxy reported ₹124 crore revenue, ₹32.82 crore EBITDA and ₹16.64 crore profit after tax in FY26. Its consolidated order book stood at approximately ₹94.42 crore as of August 15, 2026. Of 211 customers during FY26, 114 were repeat customers, contributing about 75.6% of revenue, indicating strong customer retention.

The company had borrowings of around ₹37.79 crore at FY26-end. While debt reduction and capacity expansion could strengthen its next growth phase, investors will closely watch execution of the new facility, capacity utilisation, customer concentration and the company's dependence on its core pipe-fitting mould business.

The IPO is managed by Indorient Financial Services Limited, with Bigshare Services Private Limited as registrar.