Latest news with #PM-KUSUMScheme
Mint
10 hours ago
- Business
- Mint
Muted Debut! Oswal Pumps shares list at ₹632, up 2.9% from IPO price
Oswal Pumps IPO listing: Shares of Oswal Pumps made a muted debut on the bourses on Friday, June 20, listing at ₹ 634 on NSE, a premium of just 3.2 percent from its issue price of ₹ 614. Meanwhile, on BSE it listed at ₹ 632, up 2.9 percent from issue price. The IPO, valued at ₹ 1,387.34 crore, was open for subscription from June 13 to June 17. Oswal Pumps's IPO ended on a strong note, with the issue subscribed 34.42 times over the three-day bidding window. Investors placed bids for 55.80 crore as against just 1,62 crore shares on offer. The retail investor segment saw 3.60 times subscription, while the non-institutional investor (NII) category witnessed 36.70 times subscription. The portion reserved for qualified institutional buyers (QIBs) was also subscribed 88.08 times. The IPO comprises a fresh issue of 1.45 crore equity shares totaling ₹ 890 crore, along with an offer for sale (OFS) of 0.81 crore shares amounting to ₹ 497.34 crore. The minimum application size was 24 shares, implying a minimum investment of ₹ 14,736 lakh from retail investors. The proceeds from the fresh issue were earmarked for multiple purposes, including funding specific capital expenditures, investing in its wholly owned subsidiary Oswal Solar through debt or equity, establishing new manufacturing units in Karnal, Haryana, repayment of existing debt, and meeting general corporate requirements. IIFL Capital Services Limited, Axis Capital Limited, CLSA India Private Limited, JM Financial Limited, and Nuvama Wealth Management Limited acted as the book running lead managers for the Oswal Pumps IPO, while MUFG Intime India Private Limited (Link Intime) served as the registrar to the issue. Oswal Pumps Limited, established in 2003, is engaged in the manufacturing and distribution of pumps, offering a wide portfolio of products designed for domestic, agricultural, and industrial applications. Its product range includes solar pumps, submersible pumps, monoblock pumps, pressure pumps, sewage pumps, electric motors, submersible winding wires and cables, and electric panels. As of August 31, 2024, the company had executed 26,270 turnkey solar pumping system orders directly under the PM-KUSUM Scheme across several Indian states, including Haryana, Rajasthan, Uttar Pradesh, and Maharashtra. Oswal Pumps operated a manufacturing facility in Karnal, Haryana, which spanned a total land area of 41,076 square meters as of March 31, 2024.
Mint
11 hours ago
- Business
- Mint
Muted Debut! Oswal Pumps shares list at ₹634 on NSE, up 3.2% from IPO price
Oswal Pumps IPO listing: Shares of Oswal Pumps made a muted debut on the bourses on Friday, June 20, listing at ₹ 634 on NSE, a premium of just 3.2 percent from its issue price of ₹ 614. Meanwhile, on BSE it listed at ₹ 632, up 2.9 percent from issue price. The IPO, valued at ₹ 1,387.34 crore, was open for subscription from June 13 to June 17. Oswal Pumps's IPO ended on a strong note, with the issue subscribed 34.42 times over the three-day bidding window. Investors placed bids for 55.80 crore as against just 1,62 crore shares on offer. The retail investor segment saw 3.60 times subscription, while the non-institutional investor (NII) category witnessed 36.70 times subscription. The portion reserved for qualified institutional buyers (QIBs) was also subscribed 88.08 times. The IPO comprises a fresh issue of 1.45 crore equity shares totaling ₹ 890 crore, along with an offer for sale (OFS) of 0.81 crore shares amounting to ₹ 497.34 crore. The minimum application size was 24 shares, implying a minimum investment of ₹ 14,736 lakh from retail investors. The proceeds from the fresh issue were earmarked for multiple purposes, including funding specific capital expenditures, investing in its wholly owned subsidiary Oswal Solar through debt or equity, establishing new manufacturing units in Karnal, Haryana, repayment of existing debt, and meeting general corporate requirements. IIFL Capital Services Limited, Axis Capital Limited, CLSA India Private Limited, JM Financial Limited, and Nuvama Wealth Management Limited acted as the book running lead managers for the Oswal Pumps IPO, while MUFG Intime India Private Limited (Link Intime) served as the registrar to the issue. Oswal Pumps Limited, established in 2003, is engaged in the manufacturing and distribution of pumps, offering a wide portfolio of products designed for domestic, agricultural, and industrial applications. Its product range includes solar pumps, submersible pumps, monoblock pumps, pressure pumps, sewage pumps, electric motors, submersible winding wires and cables, and electric panels. As of August 31, 2024, the company had executed 26,270 turnkey solar pumping system orders directly under the PM-KUSUM Scheme across several Indian states, including Haryana, Rajasthan, Uttar Pradesh, and Maharashtra. Oswal Pumps operated a manufacturing facility in Karnal, Haryana, which spanned a total land area of 41,076 square meters as of March 31, 2024. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India Today
11-06-2025
- Business
- India Today
Oswal Pumps IPO to open on June 13: 10 things to know before subscribing
Oswal Pumps is set to open its initial public offering (IPO) for subscription from June 13 to June 17, 2025, aiming to raise Rs1,387.34 IPO comprises a fresh issue of 1.45 crore shares, aggregating to Rs 890 crore, and an offer for sale of 81 lakh shares, totalling Rs 497.34 crore. The shares are expected to be listed on the BSE and NSE, with a tentative listing date of June 20, 2025. advertisementThe IPO price band has been set between Rs 584 and Rs 614 per share, with a minimum application lot size of 24 shares. Retail investors are required to invest a minimum of Rs 14,016, though bidding at the cutoff price is advised to mitigate the risk of oversubscription, which would amount to approximately Rs 14, the other hand, the minimum investment for Small High Net-worth Individuals (sNII) is 14 lots (336 shares) at Rs 2,06,304, while for Big High Net-worth Individuals (bNII), it is 68 lots (1,632 shares) amounting to Rs 10,02,048. This structured approach ensures that various investor categories can participate according to their financial Pumps Limited, incorporated in 2003, is a major player in the solar pump segment, providing products for domestic, agricultural, and industrial company operates a manufacturing facility in Karnal, Haryana, covering over 41,000 square meters. As of August 31, 2024, Oswal Pumps completed 26,270 turnkey solar pumping systems under the PM-KUSUM Scheme across multiple Indian IPO allotment is anticipated to be finalised on June 18, Capital Services Limited, Axis Capital Limited, and others are the book-running lead managers for this IPO, with MUFG Intime India Private Limited serving as the last grey market premium for Oswal Pumps was Rs 67, suggesting a potential listing price of Rs 681 and an estimated gain of 10.91% per share.
Time of India
07-06-2025
- Business
- Time of India
MP govt to organise summit to promote solar energy on June 10: Official
Bhopal: To speed up its promotion on solar energy further, the Madhya Pradesh government will organise ' Suryamitra Agriculture Feeder Scheme Summit' in Bhopal on June 10, said an official on Friday. Based on the 'vocal for local' vision, the summit will be organised at Kushabhau Thakre convention center aimed at providing developers and stakeholders with detailed information about the bidding process, financial structuring, and technical specifications. "The state is consistently promoting solar energy by commissioning one plant after another, steadily increasing the share of solar energy in its power generation capacity. This summit is a step toward energy self-reliance, farmer empowerment, and clean energy leadership for Madhya Pradesh," the official said. He further stated that the Madhya Pradesh government has set a target for achieving 500 GW of solar capacity by 2030, and efforts are being made to involve different stakeholders, including farmers. "To make agriculture profitable and ensure 10 hours of power supply for irrigation, the state government has already set up around 8,000 dedicated agricultural feeders," the official said. Under the scheme, solar projects can be set up at a cent per cent capacity of the substation load. The Madhya Pradesh Urja Vikas Nigam has already floated tenders for the selection of developers for these projects. These projects will be operated under 25-year Power Purchase Agreements (PPAs) with the government. "An important aspect of solar energy is generating and utilising it at the point of consumption," he added. He further informed that to meet the energy needs of farmers, especially for irrigation by generating solar energy near their fields and creating income opportunities, the Ministry of New and Renewable Energy is implementing the PM-KUSUM Scheme .
Time of India
06-06-2025
- Business
- Time of India
Apollo Green Energy plans entry into green hydrogen, BESS; eyes 1 GW EPC order book by 2026
New Delhi: Apollo Green Energy Limited is targeting a 1 GW EPC (Engineering, Procurement, and Construction) order book by 2026 and expanding into new segments such as green hydrogen , battery energy storage systems (BESS), and electric vehicle (EV) infrastructure as part of its long-term growth strategy. The company is currently executing over 400 MW of solar projects across multiple states and has a growing order pipeline of over ₹3,000 crore. A part of the Apollo International Group, Apollo Green Energy reported a consolidated revenue of ₹72,616 lakh for the financial year 2024–25. Its profit after tax stood at ₹4,436 lakh. The company declared a 15 per cent dividend for its shareholders for the year ending March 31, 2025. The firm is also advancing its Independent Power Producer (IPP) plans. It has established a 100 per cent subsidiary under the IPP model and secured its first two Power Purchase Agreements (PPAs) of 4 MW each under Component A of the PM-KUSUM Scheme with Jodhpur Vidyut Vitran Nigam Limited (JVVNL). 'This has been a productive year of execution and expansion. We have ongoing EPC projects with NHPC across Odisha, Kerala, and Gujarat totalling 290 MW (AC), along with the successful delivery of a ₹700 crore FGD project in Anuppur,' said Raaja Kanwar, Chairman and Managing Director, Apollo Green Energy. He added, 'Our solar streetlight project in Bihar, with over 1,40,000 installations, is set to significantly enhance energy access and public lighting. We are now focusing on scaling our EPC pipeline and expanding our presence in emerging areas like IPP and energy storage.' The company stated that it operates in eight states and follows an asset-light, technology-enabled business model. It is actively engaging with global partners for joint development of green hydrogen and long-duration storage projects. 'As we move forward, our goal is to grow responsibly, support climate objectives, and deliver reliable, cost-effective clean energy solutions across the country,' Kanwar said.
