Oswal Pumps IPO Closes Today: Should You Subscribe? Check Subscription Status, GMP
Last Updated:
Oswal Pumps IPO GMP: Unlisted shares of Oswal Pumps Ltd are trading at Rs 674 apiece in the grey market, which is a 9.77% premium or GMP over the upper IPO price of Rs 614.
Oswal Pumps IPO Day 3: The initial public offering of Oswal Pumps is going to be closed on Tuesday, June 17. The Rs 1,387.34-crore mainboard IPO has so far received a subdued response. Till 10:09 am on the final day of bidding on Tuesday, the IPO received a 2.04 times subscription, garnering bids for 3,23,03,304 shares as against 1,58,16,581 shares on offer.
The retail and NII participation stood at 1.28 times and 6.17 times, respectively. Its qualified institutional buyer (QIB) category got a 0.28 times subscription.
The Oswal Pumps IPO was opened on Friday, June 13. It received a 0.42 times subscription on Day 1 and a 1.65 times on Day 2.
Oswal Pumps Limited, founded in July 2023, manufactures a wide range of pumps and related products for domestic, agricultural, and industrial use.
Oswal Pumps IPO Price
The price band has been fixed in the range of Rs 584-614 apiece.
Oswal Pumps IPO Lot Size
The minimum lot size is 24 shares, requiring a retail investment of Rs 14,016 (Rs 14,736 at cutoff price). For small NII, the minimum is 14 lots (336 shares) at Rs 2,06,304; and for big NII, 68 lots (1,632 shares) at Rs 10,02,048.
Oswal Pumps IPO GMP Today
According to market observers, unlisted shares of Oswal Pumps Ltd are currently trading at Rs 674 apiece in the grey market, which is a 9.77 per cent premium or GMP over the upper IPO price of Rs 614. It indicates listing gains for investors on June 20, the tentative listing date.
The GMP has fallen since Day 1, which the grey market premium stood at nearly 11%.
The shares will be listed on both BSE and NSE.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Oswal Pumps IPO: Should You Subscribe?
Most analysts have given 'subscribe for long-term' rating to the IPO.
Oswal Pumps is one of India's fastest-growing names in solar-powered solutions, and reported a CAGR of 45.1% between FY22 and FY24. The company is expected to grow at a rate of 11% in the next five years, the analysts said.
However, the analysts also mentioned some risks, including the company's dependent on its top-10 customers (who account for nearly 80% of revenue from operations), government funding changes or policy changes (as the significant portion of Oswal Pumps' revenue is derived from turnkey solar pumping systems under PM-KUSUM), and the concentration of all of its manufacturing facilities at one place (Karnal, Haryana).
Giving a 'subscribe' rating, Aditya Birla Money in its IPO note said, 'Oswal Pumps Ltd (OSPL) is one of India's fastest-growing names in solar-powered solutions. The company has carved a niche as a fully integrated manufacturer of solar and grid-connected submersible pumps, monoblock pumps, high-efficiency electric motors, and solar modules."
It said that at the upper price band, OSPL is available at a reasonable valuation of 21x at its annualised 9MFY25 EPS. 'We have a SUBSCRIBE recommendation to this issue for the long-term," it said.
Another brokerage firm BP Wealth in its note said, 'Given the company's strong brand equity in solar pumps, diversified product offerings, and integrated manufacturing capabilities, it is well-positioned to capitalise on these structural growth drivers. Its robust domestic distribution network and expanding presence in high-growth states further enhance its ability to monetise the sector's rising demand."
The issue is valued at a price-to-earnings (P/E) ratio of 21.2x on the upper price band based on FY25 earnings (annualised), which is relatively cheaper compared to its peers. 'We recommend a 'SUBSCRIBE" rating for this issue," it added.
Other brokerages Arihant Capital, Deven Choksey, GEPL Capital, Nirmal Bang, SBI Securities, and SMIFS have given the subscribe rating to the Oswal Pumps IPO.
Oswal Pumps' Financials & Comparison With Peers
The company recorded one of the highest EBITDA margins among peers in FY24 (30.1% in 9MFY25), up from 10.7% in FY22, showcasing clear operating leverage gains. However, competition from established peers and its dependency on tenders for its revenue, remain key risk factors to consider.
Oswal Pump's competitors include Kisloskar Brothers, Shakti Pumps, WPIL, and Roto Pumps.
Oswal Pumps IPO Objectives
Oswal Pumps plans to utilise the IPO proceeds for capital expenditure (Rs 89.86 crore), investment in subsidiary Oswal Solar for new units in Karnal (Rs 272.76 crore), repayment of company borrowings (Rs 280 crore), repayment of Oswal Solar's loans (Rs 31 crore), and towards general corporate purposes.
Oswal Pumps IPO: More Info
Ahead of the IPO, Oswal Pumps on Thursday mobilised Rs 416.2 crore from anchor investors.
The initial public offering (IPO) opened on June 13 and will be closed on June 17. Its allotment will take place on June 18, while its shares are scheduled to be listed on June 20 on both BSE and NSE.
The IPO is a combination of a fresh issue of shares valued at Rs 890 crore and an offer-for-sale (OFS) of 81 lakh stocks worth Rs 497.34 crore at the upper end of the price band, by promoter Vivek Gupta. This aggregates the issue size at Rs 1,387.34 crore.
IIFL Securities, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management are the book-running lead managers to the issue.
About the Author
Mohammad Haris
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experience in financial journalism, Haris has been previously asso...Read More
Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated!
tags :
initial public offering (IPO) IPO
Location :
New Delhi, India, India
First Published:
June 17, 2025, 10:26 IST
News business » ipo Oswal Pumps IPO Closes Today: Should You Subscribe? Check Subscription Status, GMP
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
32 minutes ago
- United News of India
Minister Seethakka sets monthly targets for Panchayati Raj Dept
Hyderabad, June 17 (UNI) Telangana Minister for Panchayati Raj and Rural Development, Dr Dhanasari Anasuya Seethakka, on Tuesday directed officials of the department to set monthly targets and work systematically towards their achievement to ensure the timely implementation of development and welfare activities. Chairing a high-level review meeting here, the Minister reviewed the progress of ongoing schemes such as Mission Bhagiratha, Indira Mahila Shakti, Stree Nidhi, and the newly introduced HUM Policy for rural road construction. She also addressed pending employee issues and praised the efforts of departmental staff in delivering grassroots services, an official statement said. Minister Seethakka congratulated N Sridhar on taking charge as the Principal Secretary of the Panchayati Raj and Rural Development Department, expressing confidence that under his leadership, the department would scale new heights. She recalled Sridhar's contributions as the former Warangal Collector and CMD of Singareni Collieries, particularly in her own constituency, and said his appointment would strengthen interdepartmental coordination and help secure more funding for rural initiatives. She emphasised that the department, which represents over 2.5 crore people, should function like a family—from the minister to the multipurpose worker—working together with a shared vision of village development. Highlighting the importance of rural road infrastructure, the Minister stated that 18,472 kilometres of roads would be modernised under the HUM Policy, with 7,947 kilometres to be developed in the first phase. She added that Rs 1,800 crore worth of works had already been sanctioned and instructed officials to prepare an action plan to invite tenders within the next 15 days. The guidelines for the HUM project would be released shortly, and teams had been dispatched to Maharashtra and Karnataka to study best practices for effective implementation. Seethakka noted that rural roads, once neglected, would now surpass even urban roads in quality through this policy. She also announced that this year, 1,440 Gram Panchayat buildings and 1,440 Anganwadi centres would be constructed across the state—two for each mandal. These projects are expected to be taken up under a state-wide "Work Fair," which aims to generate employment while creating durable community assets. The Minister said that the government had resolved many staff-related issues since coming to power, including the regular payment of salaries to 93,000 village-level employees through the green channel. She further informed that the file regarding MPDO transfers was with the Chief Minister, and the vehicle allowance file had reached the Finance Department, with approvals expected soon. Principal Secretary N Sridhar, addressing the meeting, said that the Panchayati Raj Department plays a vital role in empowering rural communities and women through schemes like Indira Mahila Shakti. He said the department delivers essential services from the village to the district level and pledged to hold focused review meetings with each section to enhance overall performance. Sridhar urged everyone to work in unison to bring a good name to the government under the leadership of Chief Minister Revanth Reddy and Minister Seethakka. He assured full commitment to building a transparent, efficient, and people-centred department. UNI VV SS
Time of India
34 minutes ago
- Time of India
Stamp duty waiver of 45cr for Dharavi project to lease rly land
Mumbai: The state cabinet on Tuesday approved stamp duty waiver of Rs 45 crore on sub-lease agreements between Dharavi Redevelopment Project (DRP) and Railway Land Development Authority (RLDA), as well as of Rs 186 crore on the conveyance agreement signed with the judiciary to set up a permanent campus of Maharashtra National Law University at Goregaon. RLDA has agreed to lease 47.5 acres of its land at Mahim to DRP for more than 30 years. So far, DRP has obtained possession of 28 acres. The land is to be used for railway staff quarters and offices, as well as for housing slumdwellers and residents of authorised buildings in Dharavi. Over 10,000 housing rehab units are proposed to be built on the plot. In a press release, govt said there was a proposal to include such sub-leases in the stamp duty concession policy so that the project's implementation could get a boost. Maharashtra National Law University currently operates out of a rented building at Powai. Govt has provided 35 acres to it in Goregaon for a permanent campus. The stamp duty is 5% of the ready reckoner rate of the plot, which is valued at Rs 3,100 crore, said officials. "The construction of the university's infrastructure in this new space will save on rental costs. Also, the students here will have access to educational facilities in one place," stated the release. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Coventry: If You Were Born Between 1945-1974 You Could Be Eligible For This British Seniors Read More Undo The cabinet also approved a 50% reduction in stamp duty, amounting to Rs 33 crore, on a special purpose vehicle agreement on 493 hectares required for a joint venture project of MMRDA and Raigad Pen Growth Centre Ltd. This would benefit housing projects on the land, said officials. Through the growth centre, govt aims at development of fintech companies, educational and healthcare facilities, amusement parks, affordable housing, commercial hubs, retail and construction sectors, thereby providing a large number of employment opportunities at the local level. "Apart from promoting foreign investment, there is a possibility of a large amount of stamp duty and tax revenue being collected in the state treasury from future commercial transactions. Against this backdrop, a proposal to waive 50% stamp duty was approved," said an official. In the last financial year, govt earned Rs 58,000 crore as revenue from stamp duty, and in the current fiscal, it is estimated to cross Rs 60,000 crore.
Time of India
34 minutes ago
- Time of India
Lower water usage, international demand and an opportunity to grow a third crop: This is why Punjab farmers are going for basmati this year
1 2 Amritsar: Lower water usage, international demand and an opportunity to grow a third crop between seasons are spurring farmers in Punjab's Majha region to cultivate basmati despite only marginal differences in earnings compared to traditional paddy. Last year, basmati fetched an average price of over Rs 3,300 per quintal in the private market, ranging between Rs 2,531 and Rs 3,550. Paddy was sold at around Rs 2,400 per quintal under the minimum support price (MSP) regime. Although paddy offers slightly higher yields, basmati's added advantages are fuelling the shift. "Unlike paddy, basmati requires significantly less water, which aligns with the govt advisory of promoting sustainable farming amid growing water scarcity. Early-maturing basmati varieties like PUSA 1509 also allow farmers to grow a third crop—typically vegetables such as potatoes or peas—between the wheat and rice cycles, adding to their income," explained Tejinder Singh, chief executive officer of Amar Singh Chawla Wala, makers of the popular Lal Qila basmati brand, said. Basmati grown in the districts of Amritsar and Gurdaspur, and parts of Tarn Taran commands higher demand compared to other areas, further incentivising farmers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo Last year, out of the total 1.8 lakh hectares under paddy cultivation, 1.5 lakh hectares were under premium basmati varieties, while 30,000 hectares were used for traditional paddy. This year, the agriculture department aims to bring at least 10,000 additional hectares under basmati cultivation. "We're seeing unprecedented interest in basmati, especially in the high-yielding, disease-resistant PUSA 1692 variety, which delivers 22 to 24 quintals per hectare," said Dr Baljinder Singh Bhullar, chief agriculture officer. Dr Raman Kumar, subject matter specialist (plant protection), added that PUSA 1509 is a preferred short-duration variety, giving farmers sufficient time to plant another vegetable crop. "Farmers are increasingly opting for PUSA 1121, 1509, 1692, and similar basmati variants," he said. Farmers are also optimistic about prices this season, partly due to geopolitical developments especially Israel-Iran war. "Earlier, our basmati shipments were often returned due to pesticide residues, but with the ban on use of pesticides, Punjab's basmati is high in demand abroad. This year we expect it will fetch a handsome price due to demand from West Asian countries," said Ravinder Singh, a farmer from Amritsar.
