IPO Overview
Om Galaxy Limited is a precision mould design, development, and manufacturing company founded in 2008, with over 17 years of operational experience in the tooling and mould-making industry. The company is engaged in the business of design, development and manufacturing of pipe fitting moulds and industrial moulds catering to building materials (primarily pipes, fittings, sanitaryware) and plastic & polymer processing industries. Beyond moulds, the company has also developed in-house Hot Runner Systems (HRS) under its brand Infuse HRS, and forward integrated into consumer cleaning products under its retail brand WONDRA. The company operates seven manufacturing facilities across Vasai and Pune with a combined production area of 88,652 sq. ft. The company primarily serves customers in India, with 89.51% of FY2025 revenue generated from domestic sales and the remaining 10.49% from exports to North America, Asia, and Africa.
The company proposes to open its Initial Public Offering on September 10, 2026, aiming to raise ₹105 crore at the upper price band, with shares to be listed on the BSE SME. The IPO price band is ₹85 to ₹90 per share, with a lot size of 3,200 shares and a minimum bid amount of ₹2,88,000. The IPO closes on September 15, 2026, with listing expected on September 18, 2026.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | BSE SME |
| IPO Open Date | 10 September 2026 |
| IPO Close Date | 15 September 2026 |
| Allotment Date | 16 September 2026 (Expected) |
| Listing Date | 18 September 2026 (Tentative) |
| Price Band | ₹85 – ₹90 per share |
| Face Value | ₹5 per share |
| Lot Size | 3,200 shares |
| Minimum Investment (Retail) | ₹2,88,000 |
| Issue Size | ₹105 crore |
| Fresh Issue | 1,16,67,200 equity shares (₹105 crore) |
| Offer For Sale (OFS) | Nil |
Note: The entire IPO is a fresh issue — no offer-for-sale component. All proceeds go directly to the company.
Issue Break-up
| Category | Allocation |
| Anchor Investor Portion | 33,21,600 equity shares |
| Net Qualified Institutional Buyers (QIB) | 22,16,000 equity shares (~50%) |
| Non-Institutional Investors (NII/HNI) | 16,64,000 equity shares (~15%) |
| Retail Individual Investors (RII) | 38,81,600 equity shares (~35%) |
| Market Maker | 5,84,000 equity shares |
OFS / Selling Shareholders
There is no Offer For Sale (OFS) in this IPO. The entire issue is a fresh issue, and all IPO proceeds will be received directly by the company for business expansion and debt repayment.
Objects of the Issue (Fund Utilization)
The net proceeds from the IPO will be utilized for capital expenditure towards setting up a new manufacturing unit for consolidation of the company’s existing manufacturing units and expansion of its production capacities, pre-payment/re-payment, in full or in part, of certain outstanding borrowings availed by the company, and general corporate purposes.
- Capital expenditure for setting up a new consolidated manufacturing unit — ₹100.09 crore
- Repayment / prepayment of existing borrowings
- General corporate purposes — remaining proceeds
Lead Managers & Registrar
- Book Running Lead Manager: Indorient Financial Services Limited
- Registrar to the Issue: Bigshare Services Private Limited
- Market Maker: Aikyam Capital Pvt. Ltd.
Promoters & Management
The promoters of Om Galaxy are Opindersingh Bachattarsingh Baddhan, Jyothish Rajamohanan Nambiar, Sathyapalan Ayadathil Poyil, Gagandeep Opinder Singh Baddhan, and Meena O Baddhan.
Mr. Opindersingh Bachattarsingh Baddhan serves as the Chairman & Managing Director of the company. He noted that the company’s journey began in 2008 with a single mould-making unit, and over 17 years the company has built precision tooling capability across pipe fitting, industrial and automotive moulds, added in-house hot runner systems through Infuse HRS, and forward integrated into consumer cleaning products under WONDRA.
Company Details
Om Galaxy Limited is a diversified precision engineering company with over 17 years of experience in industrial mould manufacturing. The company earns its revenue through three primary business segments: pipe fitting and industrial moulds, Hot Runner Systems (HRS), and consumer cleaning products under the WONDRA brand.
Sectors Served:
- Building Materials (Pipes, Fittings, Sanitaryware)
- Plastics & Polymer Processing Industry
- Automotive Industry
- Consumer Products (Cleaning)
Key Products & Solutions:
- Pipe Fitting Moulds & Industrial Moulds
- Automotive Moulds
- Hot Runner Systems (HRS) — under brand Infuse HRS
- Consumer Cleaning Products — under brand WONDRA (57 SKUs)
Key Capabilities:
- In-house design, development, and manufacturing of precision moulds
- Hot runner system design and supply — a value-added, technology-driven product line
- Forward integration into branded consumer products through WONDRA
- As of 28 February 2026, the company had a consolidated order book of ₹94.90 crore and 432 employees in various departments.
Manufacturing Facilities:
- Seven manufacturing facilities across Vasai and Pune with a combined production area of 88,652 sq. ft.
- During Fiscal 2025, the company manufactured 241 pipe fitting and industrial moulds and 98 automotive moulds.
Financial Snapshot
| Period | Total Revenue (₹ Cr) | PAT (₹ Cr) |
| FY23 | ₹100.61 | ₹10.09 |
| FY24 | ₹105.12 | ₹12.04 |
| FY25 | ₹113.13 | ₹15.92 |
| FY26 | ₹124.68 | ₹16.64 |
Key Financial Metrics
- Total income increased from ₹105.12 crore in FY2024 to ₹124.68 crore in FY2026, while profit after tax rose from ₹12.04 crore to ₹16.64 crore.
- FY2026 EBITDA margin of 26.33% and PAT margin of 13.42% are sound. ROCE stood at 20.39%, and RoNW was 22.13%.
- Post-IPO market capitalization at upper band: ~₹800.16 crore
- FY2026 revenue grew 10%, while PAT increased just 5%, indicating moderation in earnings momentum.
Company Strengths
- Over 17 years of established operational history in precision mould manufacturing — a technically complex and high-barrier industry
- Diversified revenue streams across industrial moulds, hot runner systems, and consumer branded products (WONDRA), reducing single-segment dependence
- Consistent multi-year revenue and profitability growth from FY23 through FY26
- Strong order book of ₹94.90 crore as of February 2026, providing near-term revenue visibility
- Export presence in North America, Asia, and Africa — indicating internationally competitive product quality
- Consolidation of manufacturing units into a single owned facility (post-IPO capex) expected to significantly improve operational efficiency and cost structure
Key Risks & Challenges
- FY2026 PAT growth slowed to just 5% against revenue growth of 10%, indicating moderation in earnings momentum and margin pressure.
- Borrowings rose during FY26, and while IPO proceeds will partially address this, the company carries debt on its balance sheet going into the listing.
- Heavy capital expenditure planned (₹100.09 crore) for the new consolidated facility — execution risk in terms of timelines, cost overruns, and ramp-up delays
- SME IPO liquidity risk — limited secondary market trading volumes on BSE SME platform
- Concentration of manufacturing in Vasai and Pune creates geographic and operational risk
- Revenue largely domestic (89.51%) — international diversification remains limited and subject to global demand fluctuations
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
