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Mint
6 days ago
- Business
- Mint
Oswal Pumps IPO Day 3 Live: Issue booked 1.99x so far. Check GMP, key dates, issue details. Should you apply or not?
The initial public offering (IPO) for Oswal Pumps Ltd started on Friday, June 13, and will end today, June 17. The interest in the Oswal Pumps IPO has been quite strong on the second day of bidding on Monday, where the issue was completely subscribed with Non-Institutional Investors (NIIs) and retail investors taking the lead. On Thursday, the company raised ₹ 416.2 crore from anchor investors just a day before opening the share sale to public subscriptions. Among the anchor investors are ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant MF, Societe Generale, Edelweiss Life Insurance, BNP Paribas, the Parisian asset management firm Amundi, and the financial services company Capital Group, as stated in a circular published on the BSE's website. Oswal Pumps IPO price band has been established between ₹ 584 and ₹ 614 per share for a total initial public offering amounting to ₹ 1,387 crore. Investors can submit bids for a minimum of 24 equity shares and in multiples of 24 shares thereafter. The basis of allotment of shares for the Oswal Pumps IPO is expected to be finalised on Wednesday, June 18, with refunds starting on Thursday, June 19, and shares being credited to the demat accounts of allottees on the same day following the refunds. The shares of Oswal Pumps listing date is scheduled on BSE and NSE on Friday, June 20. The firm focuses on producing submersible and monoblock pumps powered by solar energy and connected to the grid, in addition to electric motors, comprising both induction and submersible types, along with solar panels, all sold under the 'Oswal' brand. With more than 22 years of experience in the industry, the company has developed significant knowledge in engineering, product design, manufacturing, and testing. Oswal Pumps IPO subscription status is 5.79 times on day 3, so far. The retail portion was subscribed 2.01 times, and NII portion was booked 16.80 times. Qualified Institutional Buyers (QIBs) portion received 4.10 times bids. The company has received bids for 9,38,73,600 shares against 1,62,12,980 shares on offer, at 12:45 IST, according to data on BSE. The company benefits from the PM Kusum Scheme, any reduction in the funding provided or inability to win bids may adversely impact business. The business is dependent on the performance of the agricultural sector, any adverse changes in the conditions affecting the agricultural sector may adversely impact business. The Company operates through its two manufacturing facilities located at Karnal, Haryana; one for pumps and motors, and the other for solar modules. Oswal Pumps IPO subscription status is 1.99 times on day 3, so far. The retail portion was subscribed 1.24 times, and NII portion was booked 5.97 times. Qualified Institutional Buyers (QIBs) portion received 28% bids. The company has received bids for 3,23,03,640 shares against 1,62,12,980 shares on offer, at 10:09 IST, according to data on BSE. • The company is one of the largest suppliers of solar powered agricultural pumps under the PM Kusum Scheme and is well positioned to capitalise on strong industry tailwinds. • Vertically integrated manufacturing competencies. • Strong engineering and design capabilities. • Comprehensive product portfolio in multiple product specifications. • Strong presence in major agricultural states in India including Haryana and growing presence in other states. • Extensive distribution network catering to a diversified customer base. • Experienced Promoter and senior management team. Oswal Pumps IPO subscription status is 1.61 times on day 2, so far. The retail portion was subscribed 1.12 times, and NII portion was booked 4.50 times. Qualified Institutional Buyers (QIBs) portion received 27% bids. The company has received bids for 2,61,59,928 shares against 1,62,12,980 shares on offer, at 17:00 IST, according to data on BSE. As per Master Capital Services, Oswal Pumps Limited stands out as one of the top and rapidly expanding manufacturers of solar pumps in India, focusing on enhancing operational integration to improve profit margins by (i) bringing certain processes and production of specific pump components in-house; (ii) automating particular manufacturing processes of pumps; and (iii) bolstering technological advancements and upgrading the automation and IT interface of products through targeted acquisitions. The company also aims to boost its production capacity for solar modules and enhance its backward integration capabilities for those modules. Investors interested in long-term opportunities might consider participating in the IPO. As per KR Choksey Securities, the IPO is appealingly valued at 17.1x FY25 EV/EBITDA (based on 9MFY25 annualised figures), indicating robust financial performance relative to competitors. The brokerage anticipates that the Company will thrive due to the demand in the renewable sector, its strong execution capabilities, and swift capacity expansions. The brokerage has issued a "SUBSCRIBE" rating for the initial offering. The initial public offering includes a new issuance of equity shares worth ₹ 890 crore and a sale of up to 8.1 million shares by one of the company's promoters, Vivek Gupta, who currently holds a 25.17 percent stake in the company. From the raised capital, ₹ 89.86 crore will be designated for capital expenditures, ₹ 273 crore will assist the subsidiary Oswal Solar in establishing a new manufacturing facility in Haryana, ₹ 280 crore will be used for debt repayments, and ₹ 31 crore will go toward settling debts at Oswal Solar. The key underwriters managing this offering are IIFL Capital, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management. Oswal Pumps IPO GMP today is +56. This indicates Oswal Pumps share price was trading at a premium of ₹ 56 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Oswal Pumps share price is indicated at ₹ 670 apiece, which is 9.12% higher than the IPO price of ₹ 614. In light of the grey market activities over the last 11 sessions, the IPO GMP is showing an upward trend today and is anticipated to have a robust listing. According to experts at the lowest GMP is ₹ 0.00, while the highest reaches ₹ 88.00. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Mint
11-06-2025
- Business
- Mint
Oswal Pumps IPO to open on Friday; here's what GMP signals ahead of the issue launch
Oswal Pumps GMP ahead of opening: The initial public offering (IPO) of Oswal Pumps, which is set to open for bidding on Friday, June 11, is commanding a healthy grey market premium (GMP) of ₹ 67 as of Wednesday. Based on the IPO's upper price band of ₹ 614 and the current GMP, the estimated listing price of Oswal Pumps stands at ₹ 681 per share—an 11% premium over the issue price. The GMP reflects investors' willingness to pay above the IPO price, indicating positive sentiment ahead of the launch. Investors should note that the GMP is likely to fluctuate throughout the bidding period. The IPO will open for bidding on Friday, June 13, and remain open until Tuesday, June 17. The company aims to raise ₹ 1,387 crore from investors through a combination of a fresh issue of 1.45 crore shares aggregating ₹ 890 crore and an offer for sale (OFS) of 0.81 crore shares aggregating ₹ 497.34 crore. The company plans to use the IPO proceeds as follows: ₹ 89.86 crore will be allocated for capital expenditure, ₹ 273 crore will be invested in its subsidiary Oswal Solar to establish a new manufacturing facility in Haryana, ₹ 280 crore will go towards debt repayment, and ₹ 31 crore will be used to settle debt at Oswal Solar. The mainboard IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. If successfully listed on the exchanges, Oswal Pumps will have to compete with existing listed players including Kirloskar Brothers, Shakti Pumps (India), WPIL, KSB, and Roto Pumps. Tentatively, Oswal Pumps IPO basis of allotment of shares will be finalised on Wednesday, June 18, and the company will initiate refunds on Thursday, June 19, while the shares will be credited to the demat account of allottees on the same day following refund. Oswal Pumps share price is likely to be listed on BSE and NSE on Friday, 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. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
10-06-2025
- Business
- Mint
Oswal Pumps IPO: Price band set at ₹584-614 per share; check issue details, key dates, more
Oswal Pumps IPO price band: The Oswal Pumps Limited IPO price band has been fixed in the range of ₹ 584 to ₹ 614 per equity share of the face value of Re 1. The Oswal Pumps IPO date of subscription is scheduled for Friday, June 13, and will close on Tuesday, June 17. The allocation to anchor investors for the Oswal Pumps IPO is scheduled to take place on Thursday, June 12. The floor price is 584 times the face value of the equity shares and the cap price is 614 times the face value of the equity shares. Oswal Pumps IPO lot size is 24 equity shares and in multiples of 24 equity shares thereafter. Oswal Pumps IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Tentatively, Oswal Pumps IPO basis of allotment of shares will be finalised on Wednesday, June 18, and the company will initiate refunds on Thursday, June 19, while the shares will be credited to the demat account of allottees on the same day following refund. Oswal Pumps share price is likely to be listed on BSE and NSE on Friday, June 20. The firm focuses on producing solar-powered and grid-connected submersible and monoblock pumps, electric motors including induction and submersible types, as well as solar modules, all marketed under the 'Oswal' brand. With over 22 years in the industry, it has accumulated significant knowledge in engineering, product design, manufacturing, and testing. As of December 31, 2024, Oswal Pumps had fulfilled 38,132 turnkey solar pumping system orders under the PM Kusum Scheme in states such as Haryana, Rajasthan, Uttar Pradesh, and Maharashtra. According to the red herring prospectus (RHP), the company's publicly listed competitors include 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). For the nine months ending December 2024, the company disclosed revenues of ₹ 1,065.67 crore and a net profit of ₹ 216.71 crore. As of April 2025, the total outstanding borrowings on a standalone basis were ₹ 308.57 crore. The IPO includes a new issuance of equity shares worth ₹ 890 crore and a sale of up to 8.1 million shares by one of the company's promoters, Vivek Gupta, who currently holds a 25.17 percent stake in the firm. Of the funds raised, ₹ 89.86 crore will be used for capital expenditures, ₹ 273 crore will be invested in the subsidiary Oswal Solar to build a new manufacturing facility in Haryana, ₹ 280 crore will be dedicated to debt repayment, and ₹ 31 crore will go towards settling debt at Oswal Solar. The leading managers for this issue are IIFL Capital, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management.
Mint
10-06-2025
- Business
- Mint
Oswal Pumps IPO: Price band set at ₹584-614 per share; check issue details, key dates, more
Oswal Pumps IPO price band: The Oswal Pumps Limited IPO price band has been fixed in the range of ₹ 584 to ₹ 614 per equity share of the face value of Re 1. The Oswal Pumps IPO date of subscription is scheduled for Friday, June 13, and will close on Tuesday, June 17. The allocation to anchor investors for the Oswal Pumps IPO is scheduled to take place on Thursday, June 12. The floor price is 584 times the face value of the equity shares and the cap price is 614 times the face value of the equity shares. Oswal Pumps IPO lot size is 24 equity shares and in multiples of 24 equity shares thereafter. Oswal Pumps IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Tentatively, Oswal Pumps IPO basis of allotment of shares will be finalised on Wednesday, June 18, and the company will initiate refunds on Thursday, June 19, while the shares will be credited to the demat account of allottees on the same day following refund. Oswal Pumps share price is likely to be listed on BSE and NSE on Friday, June 20. The firm focuses on producing solar-powered and grid-connected submersible and monoblock pumps, electric motors including induction and submersible types, as well as solar modules, all marketed under the 'Oswal' brand. With over 22 years in the industry, it has accumulated significant knowledge in engineering, product design, manufacturing, and testing. As of December 31, 2024, Oswal Pumps had fulfilled 38,132 turnkey solar pumping system orders under the PM Kusum Scheme in states such as Haryana, Rajasthan, Uttar Pradesh, and Maharashtra. According to the red herring prospectus (RHP), the company's publicly listed competitors include 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). For the nine months ending December 2024, the company disclosed revenues of ₹ 1,065.67 crore and a net profit of ₹ 216.71 crore. As of April 2025, the total outstanding borrowings on a standalone basis were ₹ 308.57 crore. The IPO includes a new issuance of equity shares worth ₹ 890 crore and a sale of up to 8.1 million shares by one of the company's promoters, Vivek Gupta, who currently holds a 25.17 percent stake in the firm. Of the funds raised, ₹ 89.86 crore will be used for capital expenditures, ₹ 273 crore will be invested in the subsidiary Oswal Solar to build a new manufacturing facility in Haryana, ₹ 280 crore will be dedicated to debt repayment, and ₹ 31 crore will go towards settling debt at Oswal Solar. The leading managers for this issue are IIFL Capital, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management. 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.
Mint
09-06-2025
- Business
- Mint
Upcoming IPO: Oswal Pumps IPO to open June 13; check key dates, issue details, more
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. 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.
