Oswal Pumps IPO ends with 34.42x subscription
The initial public offer of Oswal Pumps received bids for 55,80,42,696 shares as against 1,62,12,980 shares on offer. The issue was subscribed 34.42 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 88.08 times. The Non-Institutional Investors (NIIs) category was subscribed 36.70 times. The Retail Individual Investors (RIIs) category was subscribed 3.60 times.
The issue opened for bidding on 13 June 2025 and it closed on 17 June 2025. The price band of the IPO is fixed between Rs 584 and 614 per share.
The issue comprised both a fresh issue of equity shares upto Rs 890 crore and an offer for sale up to 81,00,000 equity shares by Vivek Gupta, one of the promoters of the company.
The company proposes to utilize the net proceeds from the issue towards capital expenditure of Rs 89.86 crore; Rs 272.76 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; Rs 280 crore for pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by the company; Rs 31 crore 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 general corporate purposes.
Oswal Pumps, established by Padam Sain Gupta (father of Vivek Gupta, one of its promoters and chairman and managing director), commenced its operations in 2003 with the manufacturing of low-speed monoblock pumps. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the Oswal brand.
It is one of the few fully integrated turnkey solar pumping system providers in India with the capability to manufacture solar-powered agricultural pumps, solar modules and pump controllers and provide installation services for such systems.
Sales of majority of its products are geographically concentrated, with the four states of Haryana, Maharashtra, UttarPradesh and Rajasthan accounting for 90.47% and 90.78% of its 9mFY25 and FY24 revenue
Ahead of the IPO, Oswal Pumps on Thursday, 12 June 2025, raised Rs 416.20 crore from anchor investors. The board allotted 67,78,533 shares at Rs 614 each to 25 anchor investors.
The firm reported a consolidated net profit of Rs 215.80 crore and a total income of Rs 1,065.67 crore for the nine months ended on 31 December 2024.
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