Oswal Pumps IPO: Price band set at ₹584-614 per share; check issue details, key dates, more
The floor price is 584 times the face value of the equity shares and the cap price is 614 times the face value of the equity shares. Oswal Pumps IPO lot size is 24 equity shares and in multiples of 24 equity shares thereafter.
Oswal Pumps IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Oswal Pumps IPO basis of allotment of shares will be finalised on Wednesday, June 18, and the company will initiate refunds on Thursday, June 19, while the shares will be credited to the demat account of allottees on the same day following refund. Oswal Pumps share price is likely to be listed on BSE and NSE on Friday, June 20.
The firm focuses on producing solar-powered and grid-connected submersible and monoblock pumps, electric motors including induction and submersible types, as well as solar modules, all marketed under the 'Oswal' brand. With over 22 years in the industry, it has accumulated significant knowledge in engineering, product design, manufacturing, and testing.
As of December 31, 2024, Oswal Pumps had fulfilled 38,132 turnkey solar pumping system orders under the PM Kusum Scheme in states such as Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.
According to the red herring prospectus (RHP), the company's publicly listed competitors include Kirloskar Brothers Ltd (with a P/E of 41.94), Shakti Pumps (India) Ltd (with a P/E of 66.72), WPIL Ltd (with a P/E of 27.31), KSB Ltd (with a P/E of 66.79), and Roto Pumps Ltd (with a P/E of 42.08).
For the nine months ending December 2024, the company disclosed revenues of ₹ 1,065.67 crore and a net profit of ₹ 216.71 crore. As of April 2025, the total outstanding borrowings on a standalone basis were ₹ 308.57 crore.
The IPO includes a new issuance of equity shares worth ₹ 890 crore and a sale of up to 8.1 million shares by one of the company's promoters, Vivek Gupta, who currently holds a 25.17 percent stake in the firm.
Of the funds raised, ₹ 89.86 crore will be used for capital expenditures, ₹ 273 crore will be invested in the subsidiary Oswal Solar to build a new manufacturing facility in Haryana, ₹ 280 crore will be dedicated to debt repayment, and ₹ 31 crore will go towards settling debt at Oswal Solar.
The leading managers for this issue are IIFL Capital, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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