Oswal Pumps IPO listing forecast: Here's what the latest GMP hints at

Oswal Pumps IPO listing forecast:  Shares of Oswal Pumps are slated to make their debut on Dalal Street on Friday, June 20, 2025, following an overwhelming response to its initial public offering (IPO). The public offering, which closed on Tuesday, June 17, was oversubscribed by 34.32 times, signaling strong investor confidence.

 

Meanwhile, the grey market trends for Oswal Pumps IPO also indicate a positive listing for the company's shares. Sources tracking unofficial market activities revealed that the unlisted shares of Oswal Pumps were quoted at around ₹675 per share, reflecting a grey market premium (GMP) of ₹61 or 9.93 per cent over the issue price of ₹614.

 

 

Given the strong subscription demand and ongoing market sentiment, Prashanth Tapse, senior VP (Research), Mehta Equities, anticipates a decent listing gain in the range of 10–15 per cent for Oswal Pumps' debut. “Despite prevailing market volatility, Oswal Pumps IPO saw significant oversubscription, reflecting confidence in the company’s fundamentals and valuation," he said.

 

Tapse views Oswal Pumps as a compelling long-term investment opportunity, well-aligned with the government’s continued emphasis on rural electrification and the promotion of solar-powered irrigation systems. For allotted investors, he advises a HOLD for the long term, as the company is well-positioned to benefit from structural growth drivers in the agri and infrastructure sectors. For non-allotted investors, Tapse said, may consider accumulating on any dips post-listing, particularly if broader market sentiment causes short-term volatility. “The business offers a strong combination of sectoral tailwinds and value-based fundamentals.”  ALSO READ | Kalpataru IPO opens on June 24: Check price band, lot size, GMP, key dates

Oswal Pumps IPO details

Oswal Pumps IPO is a book-built issue estimated to be valued at ₹1,387.34 crore, comprising a fresh issue of 14.5 million equity shares and an offer for sale (OFS), with promoter Vivek Gupta divesting up to 8.1 million equity shares.

 

Oswal Pumps IPO was available for subscription from Friday, June 13 – Tuesday, June 17, at a price band of ₹584–614 per share, with a lot size of 24 shares. The basis for allotment was finalised on Tuesday, June 18. Oswal Pumps has set the issue price at ₹614 per share.

 

Oswal Pumps will not receive any proceeds from the OFS. “The Promoter Selling Shareholder will be entitled to the proceeds from the sale of the Offered Shares in the Offer for Sale, net of the offer-related expenses and relevant taxes thereon,” the company said in its Red Herring Prospectus (RHP).

 

The company, however, proposes to use the proceeds of the fresh issue for funding certain capital expenditure, investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for funding the setting up of new manufacturing units at Karnal, Haryana, and for pre-payment/repayment, in part or full, of certain outstanding borrowings availed by the company.

 

The company will also utilise the fresh proceeds for investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for repayment/prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar; and for general corporate purposes.

 

For the public offering of Oswal Pumps, MUFG Intime India (formerly Link Intime) serves as the registrar, while IIFL Capital Services, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management are the book-running lead managers  ALSO READ | LG Electronics considers reviving IPO of Indian unit by September.

About Oswal Pumps

Incorporated in 2003, Oswal Pumps manufactures and distributes a diverse range of pumps for domestic, agricultural, and industrial applications. The company has executed orders for 26,270 turnkey solar pumping systems under the PM-KUSUM Scheme for several Indian states. Oswal Pumps operates a manufacturing facility in Karnal, Haryana, and has a growing network of distributors across India, increasing to 636 distributors as of March 2024. The company exports its products to 17 countries across Asia-Pacific, the Middle East, and North Africa regions. Oswal Pumps is a fully integrated turnkey solar pumping systems provider, manufacturing solar-powered pumps, modules, and controllers, and providing installation services.