Oswal Pumps set to debut today. GMP signals modest listing gain
Oswal Pumps is scheduled to make its debut on the NSE and BSE on Friday after a strong response to its Rs 1,387 crore IPO, which closed on June 17. Market participants are eyeing a listing premium of around Rs 41, going by the latest grey market premium (GMP), which indicates a possible upside of 6–7% over the issue price of Rs 614 per share.
ADVERTISEMENT The IPO, which comprised a fresh issue of shares worth Rs 890 crore and an offer for sale of Rs 497.34 crore, was subscribed 34.42 times overall.
The Qualified Institutional Buyers (QIBs) portion led the charge with a subscription of 88.08 times, followed by 36.70 times in the NII segment, and 3.60 times in the retail category. Anchor investors had already committed Rs 416.20 crore ahead of the public offering.
Analysts remain positive on the company's long-term outlook. Mehta Equities, in its pre-listing note, has advised allotted investors to hold for the long term, citing Oswal's diversified product base across the agriculture, industrial, and domestic water segments, and its potential to benefit from the government's push for rural infrastructure and solar-powered irrigation systems."Despite market volatility, the strong QIB and HNI response reflects confidence in the company's fundamentals," said Prashanth Tapse, Research Analyst at Mehta Equities. He expects a 10–15% listing gain, backed by Oswal's strategic market position and valuation comfort.Founded in 2003, Karnal-based Oswal Pumps has executed over 26,000 solar pump installations under government schemes and exports to 17 countries. In the nine months ending December 2024, the company reported a revenue of Rs 1,067 crore and net profit of Rs 216 crore, reflecting robust operational performance.
ADVERTISEMENT For investors who missed out on allotment, Mehta Equities suggests looking to accumulate on dips post-listing, especially if broader market weakness weighs on initial performance.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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