Om Galaxy Ltd. IPO

Om Galaxy

• Om Galaxy is coming out with an initial public offering (IPO) of 1,16,67,200 shares in a price band of Rs 85-90 per equity share.
• The issue will open for subscription on September 10, 2026 and will close on September 15 2026.
• The shares will be listed on SME Platform of BSE.
• The face value of the share is Rs 5 and is priced 17.00 times of its face value on the lower side and 18.00 times on the higher side.
• Book running lead manager to the issue is Indorient Financial Services.
• Compliance officer for the issue is Priya Ashwini Gupta.

Profile of the company

Om Galaxy is engaged in the business of design, development and manufacturing of: (a) Pipe fitting and industrial moulds catering to building materials (primarily pipes, fittings, sanitaryware) and plastic & polymer processing industry for the past 17 years under the brand name i.e. ; Om Galaxy Limited &  automotive & auto components industry through its subsidiary OMG Auto Mould Private Limited (OMG Auto) for the past 6 years under the brand name i.e. ; Om Galaxy Mould Pvt Ltd and (b) Hot Runner System (HRS) through its other subsidiary, Infuse HRS Private Limited (Infuse HRS) for the past 4 years under the brand name i.e. .Infuse Hot Runner Solutions.

Cleaning Products used in households and several commercial as well as non-commercial establishments, during Fiscal 2025, the company identified an opportunity in this segment, leveraging its legacy in the manufacturing of moulds, it diversified into manufacturing moulds as well as finished products in this segment such as mops, brushes, scrubbers, wipers, brooms under the brand name Wondra.

As of June 30, 2026, the company has 77 SKUs relating to products manufactured under the brand “WONDRA”. Currently, the company along with its subsidiaries are operating from Vasai, District Palghar, Maharashtra and in Pune, Maharashtra. It generally receives orders directly from its domestic and international clients engaged in manufacturing building materials (pipes, fittings and sanitaryware), plastics and polymer processing, automotive and auto components, as well as industrial engineering applications. It exports its products to North America, Asia and Africa. For Fiscal 2026, it generated 91.74% of its revenue from operations through domestic sales and 5.10% through exports. Furthermore, it is member of the Tool and Gauge Manufacturers Association of India (TAGMA).

Proceed is being used 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 all or a portion of certain outstanding borrowings availed by the company
• General corporate purposes

Industry overview

The Indian plastic pipes fittings market shows a fragmented structure, where organized players are gradually expanding their presence to capture a larger share of demand. With the market projected to reach Rs 85.0 thousand crore by FY’30, capacity additions are expected across leading manufacturers as well as regional players. In the pipe fitting market, pipe manufacturers allocate about 45% of their average spend to moulds, underlining the critical role of tooling in production. Steel continues to command the largest share of revenues, but advanced polymers and alternative materials are expanding at the fastest pace. This shift is creating opportunities for suppliers of precision moulds, particularly for advanced material fittings, as manufacturers look to adapt their product mix and meet evolving market requirements. By FY’30, this share is expected to moderate to around 40%, reflecting efficiency gains and the adoption of advanced manufacturing technologies, while moulds will continue to remain a core cost driver.

Meanwhile, machine body part components account for the largest share of the Industrial Dies and moulds market, these components typically require highly durable and precise moulds capable of handling large dimensions, complex geometries, and demanding material properties. A wide variety of mould types are employed, including sand casting moulds for producing massive machine beds and housings, die casting moulds for lighter but high-strength parts like gear cases and motor frames, and investment casting moulds for intricate, high-accuracy components. These form the backbone of tooling requirements across heavy engineering, capital goods, and allied sectors. Their dominance is underpinned by the rapid expansion of India’s manufacturing sector, which is projected to grow at a CAGR of 6-7% FY’24-FY’30, supported by policy initiatives such as Make in India, PLI schemes and infrastructure outlays.

The India Household Cleaning Market broadly comprises two categories: (i) Household Cleaning Consumables, including brooms, mops, brushes, scrubbers, wipers/dusters, microfiber cloths, sponges, buckets, cleaning gloves, waste bins/bags, and other cleaning accessories; and (ii) Cleaning Equipment, comprising products such as vacuum cleaners, spin-mop systems, steam cleaners, pressure washers, and other mechanized cleaning devices. The India Household Cleaning Consumable Market comprises non-electric cleaning products including brooms, mops, brushes, scrubbers, wipers/dusters, microfiber cloths, sponges, buckets, cleaning gloves, waste bins/bags. Demand for these products is primarily driven by rising hygiene awareness, increasing urbanization, government sanitation initiatives, premiumization of household cleaning products, and growth in organized retail. The market is estimated to grow at a CAGR of 3.7% during FY'26-FY’30.

Pros and strengths

Product diversification & manufacturing expansion: Since its inception in 2008, the company has focused on pipe fittings and industrial moulds being used for building materials (primarily pipes, fittings, sanitaryware) and plastic & polymer processing industry. With the advancement of technology, the size and complexity of the moulds also evolved. From producing moulds of 400-600 mm dimensions initially, it gradually increased its capacity to cater to intricate, large-scale moulds of upto 64 cavities weighing upto 6-7 tons for diverse applications. Over the years, the company has expanded its operations from manufacturing specialised moulds to offering products catering to multiple industries like building materials, plastics and polymer processing and industrial engineering. It has expanded its manufacturing capabilities through investments in technology and machinery and manufacture moulds, including large plastic injection and blow moulding product, for customers across India.

Long-standing customer relationships: The company’s long-standing relationship with its customers has been one of the factors contributing to its growth. Its commitments to quality and customer service practices have been the contributing factor to its long customer relations. It attributes its growth and expansion of its market share to date to its relationships with its customers and intends to continue to leverage such relationships for its future growth as well.

Integrated manufacturing & hot runner capabilities: The company benefits from the ability to offer integrated moulding solutions to its customers through the combined capabilities of the company and its Subsidiary, Infuse HRS, which manufactures hot runner systems. HRS are components used in plastic injection moulds to channel molten polymer from the injection moulding machine into mould cavities while maintaining the material in a molten state through controlled heating. HRS play a critical role in injection moulding by maintaining the molten plastic at controlled temperature and pressure, thereby improving production efficiency, reducing material wastage and enabling high-precision moulded components. Through Infuse HRS, the company designs and manufactures HRS including manifolds, nozzles and temperature controller systems for use in injection moulding applications across industries such as automotive, packaging, electronics and consumer goods.

Risks and concerns

Customer concentration risk: A substantial portion of the company’s revenue from operations is dependent on its top 10 customers. 73%, 84%, and 84% of its revenue from operations was derived from top 10 customers in Fiscals 2026, 2025 and 2024, respectively. As it does not have long-term binding agreements with all its customers, any reduction in orders from, or loss of, any of its major customers could adversely affect its business, financial condition, results of operations and cash flows.

High raw material supplier dependency: The company depends on a limited number of suppliers for procurement of its key raw materials required for its manufacturing operations, and purchases from its top 10 suppliers represented 49%, 69% and 59% of its total purchases of raw materials in Fiscals 2026, 2025 and 2024, respectively. As it does not have definitive agreements with its suppliers, any interruption in the availability of raw material on account of any disruption, breakdown or shutdown of its suppliers’ operations could adversely impact its operations and may have a material adverse effect on its business, financial condition, results of operations and cash flows.

Pipe fitting segment concentration risk: A significant portion of its revenue from operations is derived from the pipe fittings mould business. The company has derived 73.62%, 70.55% and 74.63% of its total revenue from Pipe Fitting segment in FY26, FY25 and FY24 respectively. Any decline in demand for such moulds or loss of customers in this segment could adversely affect its business, financial condition, results of operations and cash flows.

Outlook

Om Galaxy is engaged in the business of design, development and manufacturing of Pipe fitting and industrial moulds, automotive moulds, Hot Runner System (HRS) and Cleaning Products. As of June 30, 2026, it has 77 SKUs relating to products manufactured under the brand WONDRA. The company has diversified product portfolio encompassing moulds, HRS and cleaning product supported by in-house design and manufacturing capabilities. On the concern side, a significant portion of the company’s revenue is derived from its pipe fittings mould business, exposing it to segment concentration risk. Any decline in demand for such moulds or loss of key customers could adversely impact its business and financial performance. The company also depends on a limited number of suppliers for key raw materials required for its manufacturing operations. Further, a significant portion of its revenue is generated from a limited number of customers, resulting in supplier and customer concentration risks.

The company is coming out with a maiden IPO of 1,16,67,200 equity shares of face value of Rs 5 each. The issue has been offered in a price band of Rs 85-90 per equity share. The aggregate size of the offer is around Rs 99.17 crore to Rs 105.00 crore based on lower and upper price band respectively. On performance front, revenue from operations grew 10.1% from Rs 11,266.12 lakh in Fiscal 2025 to Rs 12,400.14 lakh in Fiscal 2026. Moreover, profit after tax increased by 4.5% from Rs 1,591.64 lakh in Fiscal 2025 to Rs 1,663.58 lakh in Fiscal 2026.

Meanwhile, the company proposes to set up a New Manufacturing Unit for consolidation of operations of its existing four manufacturing units at a single location. The New Manufacturing Unit is intended to enable the relocation of the company’s existing manufacturing units from a combination of rented and owned premises to a single, fully owned New Manufacturing Unit and to establish a centralised manufacturing base equipped with modern infrastructure and machinery. The New Manufacturing Unit will also provide adequate capacity for future expansion in line with the company’s business growth and market demand.

JSW Steel has submitted Newspaper Publication regarding Petition Hearing Date before the Hon''ble NCLT in connection with the Scheme of Amalgamation of Piombino Steel Limited with JSW Steel Limited.

The above information is a part of company’s filings submitted to BSE.

Sandu Pharmaceuticals has informed that 1. Redesignation of shri Balram Viswanathan (DIN :10245195) as Chairman and Managing Director of the company. 2.Appointment of Dr Smt Neeti Kapre (DIN:06801264)as Non Executive Independent Director.

The above information is a part of company’s filings submitted to BSE.

Unisem Agritech has informed that the Company has submitted the Exchange a copy of Scrutinizers Report of Annual General Meeting held on 11th September, 2026. Further the company has also informed the Exchange regarding the Voting Results.

The above information is a part of company’s filings submitted to BSE.

SDC Techmedia has informed that the Company has published the Notice of 18th AGM of the Company which is scheduled to be held on Wednesday, September 30, 2026 at the registered office in Financial Express (English)and in Makkal Kural (Tamil) edition dated September 10, 2026.

The above information is a part of company’s filings submitted to BSE.