Oswal Pumps IPO fully subscribed on day 2; check price band, lot size and key details

Oswal Pumps IPO: The initial share sale of Oswal Pumps has been fully subscribed on the second day of bidding on Monday, June 16.

The IPO secured bids for 1,96,62,912 shares, as against 1,62,12,980 shares on offer, as per the consolidated data on the NSE until 3:13 pm.

The non-institutional investors' portion attracted 2.36 times the subscription, while the retail individual investors (RIIs) category fetched 85% subscription. The part for qualified institutional buyers (QIBs) got 24% subscription.

The money generated will be used to fund certain capital expenditures, investment in the wholly-owned unit Oswal Solar, setting up new manufacturing plants at Karnal, debt repayment, and general corporate purposes.

Oswal Pumps started operations in 2003 by producing low-speed monoblock pumps. Over the years, it began manufacturing grid-connected submersible pumps as well as electric motors.

Nuvama Wealth Management, IIFL Capital Services, CLSA India, Axis Capital, and JM Financial are the book-running lead managers to the issue. MUFG Intime India is the registrar.

The application size is 24 shares, requiring an investment of ₹14,736 at the upper price band.

Oswal Pumps IPO: Key dates

Oswal Pumps IPO allotment status is expected to be finalised on June 18. The refunds for non-allotees will be initiated on June 19, while shares will be credited to the Demat account of successful investors on the same day.

The equity shares will list on the BSE and the NSE on June 20.

Its revenue from operations climbed 96.46% year-on-year (YoY) to ₹761.23 crore in the financial year 2023-23. The net profit advanced 185.58% YoY to ₹97.67 crore.

For the nine-month period ended December 2024, revenue and net profit were ₹1,067.34 crore and ₹216.71 crore, respectively.