Oswal Pumps IPO: 10 points to consider as ₹1,387 crore offer opens for subscription

Oswal Pumps IPO: Pumps manufacturer Oswal Pumps' mainboard initial public offering opened for public subscription on Friday, June 13. The price band has been fixed at ₹584 to ₹614 per share. The company's shares will list on the stock exchanges on June 20.

Oswal Pumps IPO: 10 key points to know

• Oswal Pumps IPO subscription period: The initial share sale will be open from Friday, June 13, to Tuesday, June 17.
• IPO offer structure: The ₹1,387.34 public offer is a mix of a fresh issue of shares aggregating to ₹890 crore as well as an offer-for-sale (OFS) of 81 lakh shares valued at ₹497.34 crore by promoter Vivek Gupta.
• Oswal Pumps IPO price band: The price band has been set at ₹584 to ₹614 per share.
• Reservation: Half of the net issue has been reserved for qualified institutional buyers or QIBs, 35% for retail individual investors (RIIs), and the remaining 15% for non-institutional investors (NIIs).
• Oswal Pumps IPO lot size: The application size for retail investors is 24 shares, needing an investment of ₹14,736 (cutoff price).
• Objectives: The capital raised will be utilised for funding certain capital expenditures and investment in its wholly owned subsidiary Oswal Solar, establishing new manufacturing units in Haryana, debt clearance, and corporate general purposes.
• Book-running lead manager and registrar: IIFL Securities, CLSA India, JM Financial, Nuvama Wealth Management and Axis Capital are the issue's book-running lead managers, while MUFG Intime India is the registrar.
• Oswal Pumps IPO allotment date: The basis of allotment is likely to be finalised on June 18.
• Listing date: The listing on the National Stock Exchange (NSE) and the BSE will occur on June 20.
• Oswal Pumps revenue and net profit: The company's revenue from operations increased 96.46% year-on-year (YoY) to ₹761.23 crore in the financial year 2023-24, while net profit rose 185.58% YoY to ₹97.67 crore.