Oswal Pumps sets IPO price band at ₹584-614; check key details here

Oswal Pumps IPO price band: The mainline IPO is a combination of a fresh issue of 14.5 million shares and an offer for sale of 8.1 million shares

Oswal Pumps IPO price band: The integrated pump manufacturer Oswal Pumps has set the price band for its initial public offering (IPO) in the range of ₹584 to ₹614 per equity share of the face value of ₹1. The Oswal Pumps IPO will open for public subscription on Friday, June 13, 2025, and will close on Tuesday, June 17. The anchor investor bid period will be one working day before the issue opening date i.e. Thursday, June 12, 2025, according to the red herring prospectus (RHP).

Oswal Pumps IPO key details

Oswal Pumps IPO is a combination of a fresh issue of 14.5 million shares aggregating to ₹890 crore and an offer for sale (OFS) of 8.1 million shares by one of the promoters Vivek Gupta. He currently holds a 25.17 per cent stake in the company.

 

 

The basis of allotment of shares is expected to be finalised on or before Wednesday, June 18, 2025. Shares of Oswal Pumps will be listed on both the exchanges, National Stock Exchange and BSE, tentatively on Friday, June 20, 2025. 

 

The company has reserved not more than 50 per cent of the net offer for qualified institutional buyers (QIBs), not less than 15 per cent for non-institutional investors (NIIs), and at least 35 per cent for retail individual investors.

 

MUFG Intime India, formerly Link Intime India, is the registrar of the issue. IIFL Capital Services, Axis Capital, CLSA India, JM Financial and Nuvama Wealth Management are the book-running lead managers.

 

Thus, investors can bid for a minimum of 24 shares of Oswal Pumps IPO and in multiples thereof. To bid for one lot or 24 shares, a retail investor would require a minimum of ₹14,016, taking the upper end of the IPO price into consideration. A retail investor can bid for a maximum of 14 lots or 288 shares, amounting to ₹1,96,224.

  According to the RHP, the company plans to use ₹89.86 crore from the net fresh issue proceeds for funding certain capital expenditures, ₹272.75 crore for 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. In addition, ₹280 crore will be used for prepayment or repayment, in part or full, of certain outstanding borrowings and ₹31 crore for repayment or prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar. The remaining funds will be used for general corporate purposes.  

About Oswal Pumps

Incorporated in 2003, Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors as well as solar modules, which it sells under the ‘Oswal’ brand. It caters to the diverse requirements of end-users in the agricultural sector, the residential sector, commercial premises such as shopping malls, offices and hotels, and various industries. It operates a manufacturing facility located at Karnal, Haryana.

 

In the financial year 2023-24 (FY24), Oswal Pumps reported revenue from operations of ₹758.5 crore, up 97 per cent from ₹385 crore in the previous fiscal. Its profit after tax (PAT) stood at ₹97.6 crore in FY24, nearly a two-fold jump from ₹34.1 crore in FY23.