Upcoming IPO: Oswal Pumps IPO to open June 13; check key dates, issue details, more

Mint

7 hours ago

Oswal Pumps IPO: Oswal Pumps, a manufacturer of integrated solar pumps, will launch its initial public offering (IPO) for subscription starting on June 13, with the offer set to close on June 17, according to the latest red herring prospectus submitted to SEBI. Oswal Pumps IPO price band will be revealed the following day, Tuesday, June 10.
The anchor book will open on June 12, with the basis for allotment scheduled to be finalised on June 18; refunds and the crediting of equity shares are set to begin on June 19. The stock is anticipated to be listed on the stock exchanges on June 20.
The company specialises in the production of solar-powered and grid-connected submersible and monoblock pumps, electric motors such as induction and submersible motors, as well as solar modules, all branded under 'Oswal'. With more than 22 years of experience, it has developed substantial expertise in engineering, product design, manufacturing, and testing.
As of December 31, 2024, Oswal Pumps has completed 38,132 turnkey solar pumping system orders under the PM Kusum Scheme in states including Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.
As per the red herring prospectus (RHP), the company's listed peers are 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).
In the financial year 2024, the company achieved a revenue of ₹ 758.57 crore, a significant increase from ₹ 385.04 crore the previous year. The net profit grew to ₹ 97.67 crore compared to ₹ 34.20 crore.
For the nine months ending December 2024, the company reported revenues of ₹ 1,065.67 crore and a net profit of ₹ 216.71 crore. As of April 2025, total outstanding borrowings on a standalone basis amounted to ₹ 308.57 crore.
The IPO consists of a fresh issuance of equity shares totaling ₹ 890 crore and an offer for sale of up to 8.1 million shares by one of the promoters, Vivek Gupta, who currently possesses a 25.17 percent share in the company.
Of the proceeds, ₹ 89.86 crore will be directed towards capital expenditure, ₹ 273 crore will be invested in subsidiary Oswal Solar to establish a new manufacturing facility in Haryana, ₹ 280 crore will be allocated for debt repayment, and ₹ 31 crore will be used to settle debt at Oswal Solar.
The lead managers for the issue include IIFL Capital, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management.
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