Upcoming IPO, March 13 -- Gujarat-based Om Power Transmission, a power transmission infrastructure engineering, procurement, and construction (EPC) company, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).

Om Power Transmission Ltd.'s IPO is a book-built issue of 1 crore equity shares, consisting of a fresh issue of up to 0.90 crore equity shares and an offer for sale (OFS) of up to 0.10 crore equity shares.

The company proposes to use the proceeds from the issue toward funding capital expenditure, purchasing new machinery and equipment, debt repayment, meeting working capital requirements, and general corporate purposes.

In terms of financial performance, the ...