Oswal Pumps files DRHP for Rs 890 crore IPO
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Oswal Pumps, a Karnal-based manufacturer of pumping solutions and solar water pumping systems, has filed its Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) to raise up to Rs 890 crore through an initial public offering (IPO), which includes a fresh issue and an offer for sale (OFS) by promoter Vivek Gupta.The IPO comprises a fresh issue aggregating up to Rs 890 crore and an OFS of up to 81 lakh equity shares by Vivek Gupta, the promoter selling shareholder. The company may consider a pre-IPO placement of specified securities; if undertaken, the size of the fresh issue would be reduced accordingly.Proceeds from the fresh issue will be used to fund corporate objectives as laid out in the offer documents, while the promoter will receive the proceeds from the OFS component.The IPO will follow the book-building route and is proposed to be listed on the BSE and the NSE. The company has appointed IIFL Capital, Axis Capital , CLSA India, JM Financial , and Nuvama Wealth Management as the book-running lead managers, while MUFG Intime India has been appointed as the registrar to the issue.The bidding for anchor investors will open on June 12, 2025. The issue will open for public subscription on June 13 and close on June 17.As per the offer structure, not more than 50% of the issue will be allocated to qualified institutional buyers (QIBs), at least 15% to non-institutional investors (NIIs), and a minimum of 35% will be reserved for retail individual investors (RIIs), per SEBI regulations.Founded in 2003 and headquartered in Haryana, Oswal Pumps has grown into an integrated player with a presence across pumps, motors, pipes, and turnkey solar water pumping systems. It operates through subsidiaries Oswal Solar Structure Pvt Ltd and Oswal Green Industries Pvt Ltd, and is backed by a promoter group that includes Vivek Gupta, Amulya Gupta, and Shivam Gupta, along with three corporate promoter entities.The equity shares will have a face value of Rs 1 each. The price band, minimum bid lot, and final offer size will be disclosed in subsequent filings and advertisements before the offer opening date.
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