Oswal Pumps raises ₹416 crore from anchor investors ahead of IPO

Oswal Pumps on Thursday, June 12, garnered ₹416.20 crore from anchor investors ahead of its initial public offering (IPO) that opens for public subscription on Friday, June 13.

The company informed the bourses that it allocated 67,78,533 equity shares at ₹614 apiece to anchor investors.

Some of the marquee institutions that participated in the anchor include Société Générale, BNP Paribas, Smallcap World Fund Inc., ICICI Prudential, Aditya Birla Sunlife, Kotak Mahindra MF, Quant MF, Amundi Funds, 360 One, Motilal Oswal MF, Bandhan Small Cap Fund, Edelweiss MF, Troo Capital, Nuvama MF, Sundaram MF, Edelweiss Life Insurance, Mahindra Manulife, etc.

The Oswal Pumps IPO is a fresh issue of over 1.44 crore shares and an offer for sale of 81 lakh shares by promoters.

The company has fixed the price band of the issue at ₹584 to ₹614 per share, and the lot size (the minimum bid quantity to apply for the issue) is 24 shares. This means that the minimum investment amount for retail investors is ₹14,736 per lot at the upper end of the price band.

After the IPO closes for subscription on June 17, the allotment of shares is expected to be finalised on June 18. Shares are expected to be credited into the accounts of the successful bidders by June 19.

The shares of Oswal Pumps are scheduled to list on the bourses on June 20.