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The initial public offering of Omnitech Engineering Ltd, a manufacturer of precision-engineered components, was subscribed by 8 per cent on Wednesday, the first day of bidding. The IPO received bids for 15,63,738 shares against 1,89,09,890 shares on offer, as per NSE data. Qualified Institutional Buyers (QIBs) quota received 13 per cent subscription, while the category for non-institutional investors was subscribed by 6 per cent. Retail Individual Investors (RIIs) portion received 6 per cent subscription. Omnitech Engineering on Tuesday raised over Rs 174 crore from anchor investors. The company's Rs 583-crore initial share sale will conclude on February 27. The price band has been fixed at Rs 216-227 per share, valuing the company at over Rs 2,800 crore. The IPO is a combination of fresh issuance of equity shares worth up to Rs 418 crore and an Offer For Sale component of equity shares valued at 165 crore by promoter Udaykumar Arunkumar Parekh. Proceeds from the fresh issue wil
Brandman Retail, a distributor and retailer for the premium athleisure and lifestyle brands, has been listed on NSE at a valuation of Rs 324.85 crore. The company, which has an IPO price of Rs 176, settled at Rs 211.80 on NSE on Friday, up 4.98 per cent. Brandman Retail, which has raised Rs 86 crore through its public issue, will invest the proceeds in store expansion, working capital support, and general corporate purposes, according to a company statement. Brandman Retail currently operates 21 stores across India, which is a mix of Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs). "As part of its next growth phase, the company plans to open 15 new stores funded through IPO proceeds, forming the first leg of a broader expansion strategy aimed at building a 50+ store national network," it said. Founded by Arun Malhotra, Brandman Retail has positioned itself as a platform for international sports and lifestyle brands seeking structured entry and expansion in the Indian