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Time of India
a day ago
- Business
- Time of India
Oswal Pumps IPO subscribed 6% on Day 1: Check GMP, price band, and other key details
The Rs 1,387 crore initial public offering (IPO) of Oswal Pumps , one of India's fastest-growing solar pump manufacturers , was subscribed 6% so far on day one of the bidding process. As of 10:24 am, the IPO had received bids for 9,14,976 shares against the 1,62,12,980 shares on offer. The highest interest came from non-institutional investors (NIIs), who subscribed 9% of their allotted quota. Retail investors subscribed 7%, while qualified institutional buyers (QIBs) were yet to participate. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The IPO opened for public subscription on June 13 and will close on June 17. The IPO comprises a fresh issue of shares worth Rs 890 crore and an offer for sale of 81 lakh shares by promoter Vivek Gupta. The company raised Rs 416 crore from anchor investors on June 12 by allocating 67.78 lakh shares at Rs 614 apiece to marquee institutions like Societe Generale, Smallcap World Fund, ICICI Prudential . Oswal Pumps IPO GMP Live Events The grey market premium (GMP) for Oswal Pumps is in the range of Rs 64–65. With a cap price of Rs 614, the estimated listing price is around Rs 679, indicating a potential listing gain of about 10%. Oswal Pumps IPO price band The price band for the IPO is set at Rs 584–614 per share. Investors can bid for a minimum of 24 shares and in multiples thereafter. What does Oswal Pumps do? Founded in 2000, Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. It has grown rapidly under government schemes such as the PM Kusum Yojana, under which it accounted for around 38% of India's installed solar pumps as of December 2024. Oswal operates a large single-site pump facility in Karnal, Haryana, with vertically integrated manufacturing capabilities. It also sells through 925 distributors across India and launched its own retail outlets — 'Oswal Shopee' — which numbered 248 as of June 2025. Financials and valuation The company posted strong financials with revenue increasing from Rs 360 crore in FY22 to Rs 759 crore in FY24, while PAT jumped from Rs 17 crore to Rs 98 crore. For the nine months ended December 2024, it reported a revenue of Rs 1,066 crore and net profit of Rs 217 crore, with an EBITDA margin of 30.1% and PAT margin of 20.3%. At the upper band, the post-issue P/E is 24.2x, and EV/EBITDA is 15.1x — reasonable compared to listed peers like Shakti Pumps, KSB and Kirloskar Brothers, especially given Oswal's superior return ratios (RoE of 72.6% and RoCE of 56%). Oswal Pumps IPO: Should you subscribe? SBI Securities recommends subscribing to the IPO for a long-term horizon, citing strong revenue and profit growth, robust order book (Rs 1,100 crore), and leadership in solar pump installations. However, risks include dependence on government schemes and a high receivables cycle (140–150 days). ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
a day ago
- Business
- Economic Times
Oswal Pumps IPO subscribed 6% on Day 1: Check GMP, price band, and other key details
Oswal Pumps IPO: The IPO opened for public subscription on June 13 and is scheduled to close on June 17. Synopsis Oswal Pumps IPO: As of 10:24 AM, Oswal Pumps' IPO had received bids for 9,14,976 shares against the 1,62,12,980 shares on offer. The highest demand so far has come from non-institutional investors (NIIs), who subscribed to 9% of their allotted portion. Retail investors subscribed 7%, while qualified institutional buyers (QIBs) had not yet placed any bids. The Rs 1,387 crore initial public offering (IPO) of Oswal Pumps, one of India's fastest-growing solar pump manufacturers, was subscribed 6% so far on day one of the bidding process. ADVERTISEMENT As of 10:24 am, the IPO had received bids for 9,14,976 shares against the 1,62,12,980 shares on offer. The highest interest came from non-institutional investors (NIIs), who subscribed 9% of their allotted quota. Retail investors subscribed 7%, while qualified institutional buyers (QIBs) were yet to participate. The IPO opened for public subscription on June 13 and will close on June 17. The IPO comprises a fresh issue of shares worth Rs 890 crore and an offer for sale of 81 lakh shares by promoter Vivek Gupta. The company raised Rs 416 crore from anchor investors on June 12 by allocating 67.78 lakh shares at Rs 614 apiece to marquee institutions like Societe Generale, Smallcap World Fund, ICICI Prudential. The grey market premium (GMP) for Oswal Pumps is in the range of Rs 64–65. With a cap price of Rs 614, the estimated listing price is around Rs 679, indicating a potential listing gain of about 10%. ADVERTISEMENT The price band for the IPO is set at Rs 584–614 per share. Investors can bid for a minimum of 24 shares and in multiples thereafter. ADVERTISEMENT Founded in 2000, Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. It has grown rapidly under government schemes such as the PM Kusum Yojana, under which it accounted for around 38% of India's installed solar pumps as of December operates a large single-site pump facility in Karnal, Haryana, with vertically integrated manufacturing capabilities. It also sells through 925 distributors across India and launched its own retail outlets — 'Oswal Shopee' — which numbered 248 as of June 2025. ADVERTISEMENT The company posted strong financials with revenue increasing from Rs 360 crore in FY22 to Rs 759 crore in FY24, while PAT jumped from Rs 17 crore to Rs 98 crore. For the nine months ended December 2024, it reported a revenue of Rs 1,066 crore and net profit of Rs 217 crore, with an EBITDA margin of 30.1% and PAT margin of 20.3%.At the upper band, the post-issue P/E is 24.2x, and EV/EBITDA is 15.1x — reasonable compared to listed peers like Shakti Pumps, KSB and Kirloskar Brothers, especially given Oswal's superior return ratios (RoE of 72.6% and RoCE of 56%). ADVERTISEMENT SBI Securities recommends subscribing to the IPO for a long-term horizon, citing strong revenue and profit growth, robust order book (Rs 1,100 crore), and leadership in solar pump installations. However, risks include dependence on government schemes and a high receivables cycle (140–150 days). (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
2 days ago
- Politics
- Time of India
Viksit Krishi Abhiyan engages over 20 lakh progressive farmers
1 2 Lucknow: The 15-day Viksit Krishi Sankalp Abhiyan-2025, aimed to establish dialogue with progressive farmers to boost agricultural productivity, concluded on Thursday. The campaign, which started on May 29 in 75 UP districts, saw participation by public representatives, agricultural scientists and agriculture and allied department officials at 10,125 places. In all, over 2,019,785 progressive farmers were contacted during the campaign. In Baghpat, Delhi Lieutenant Governor BK Saxena and MP Rajkumar Sangwan received information about agricultural technology from scientists. Agriculture scientist Vikas Kumar said that along with sugarcane, farmers can also grow mustard which will double their income. Information was given about preventing the infestation of the sugarcane crop with insects. Saxena planted saplings in the Krishi Vigyan Kendra. Union minister of state for agriculture Ramnath Thakur visited Krishi Vigyan Kendra in Kallipur, Varanasi. He directed scientists and officials of the agriculture department to reduce the cost of farming and double the farmers' income. Thakur said that farmers should be informed about the latest technology by establishing direct communication with farmers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Keep Your Home Efficient with This Plug-In elecTrick - Save upto 80% on Power Bill Learn More Undo UP agriculture minister Surya Pratap Shahi interacted with farmers in Bhavaniapur Khevali under Ramsanehi Ghat tehsil of Barabanki and informed them about farmer-friendly schemes being run by the Central and state govt. He said that the state govt was providing subsidies on modern technologies like PM Kusum Yojana, IPM method, mulching and polyhouse. Farmers were given information about Kharif crop production technology, DSR method, balanced use of fertilizers, nano urea, nano DAP, millets, natural farming, Pradhan Mantri Kisan Samman Nidhi, PM Kusum, NFSM scheme, agricultural mechanization, Pradhan Mantri Fasal Bima Yojana, and production technology of all crops and all other schemes. In Kannauj, information about new technology was given to farmers in 135 gram panchayats. District magistrate Ashutosh Mohan Agnihotri said that the aim of the campaign is to bring benefits from laboratory to field. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
