Oswal Pumps Ltd. was incorporated on July 15, 2003. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. It serves diverse sectors, including agriculture, residential (gardens and water supply), commercial (malls and hotels), and industrial applications (boilers and water treatment)
| Bidding Dates |
|---|
| 13 Jun 2025 - 17 Jun 2025 |
| Subscription |
|---|
| 34.42x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,016 | 1 | 13 | 24 | 22.6 M | ₹584 - ₹614 | 80.07 % | ₹13195.5 M - ₹13873.4 M | RHP DOC |
Oswal Pumps IPO SUBSCRIPTION STATUS
17 Jun '25Oswal Pumps IPO overall subscription rate was 34.42 times the total available shares
Oswal Pumps IPO retail subscription rate was 3.6 times in the retail segment
Oswal Pumps IPO non-institutional investor subscription rate was 36.7 times in the non-institutional investor category
Oswal Pumps IPO Qualified Institutional Bidder subscription rate was 88.08 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
17 Jun 2025 (Day 3) | 3.6x | 36.7x | 88.08x |
16 Jun 2025 (Day 2) | 1.12x | 4.5x | 0.27x |
13 Jun 2025 (Day 1) | 0.45x | 0.79x | 0.08x |
Oswal Pumps FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 9MFY25 | 216.7 | 1,065.7 | -197.4 | -234.7 | 30.1% |
| FY24 | 97.7 | 758.6 | 16.9 | -7.2 | 19.8% |
| FY23 | 34.2 | 385.0 | 49.9 | 24.9 | 15.0% |
| FY22 | 16.9 | 360.4 | 64.9 | 30.1 | 10.7% |
Oswal Pumps IPO SUBSCRIPTION STATUS DETAILS
Oswal Pumps had 22.6 M shares on offer
Oswal Pumps IPO offer price was in the range ₹584 - ₹614
Oswal Pumps IPO minimum Investment was ₹14016
Oswal Pumps IPO issue size was ₹ 13195.5 M - ₹ 13873.4 M
Oswal Pumps had a minimum lot size of 24 Shares per application
Oswal Pumps NUMBER OF SHARES ON OFFER
Oswal Pumps IPO IMPORTANT DATES
| Issue Open Date | 13 Jun 2025 |
| Issue close Date | 17 Jun 2025 |
| Allotment Date | 18 Jun 2025 |
| Refund Date | 19 Jun 2025 |
| Demat Account Credit Date | 19 Jun 2025 |
| Listing Date | 20 Jun 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Oswal Pumps Allotment Status | Exchange/ Registrar |
Oswal Pumps IPO subscription opened on 13 Jun 2025, and closed on 17 Jun 2025
IPO allotment for Oswal Pumps was finalized on Wednesday, 18 Jun 2025
IPO listing for Oswal Pumps was on NSE and BSE on Friday, 20 Jun 2025
Oswal Pumps IPO LISTING GAINS
| Issue Price (adjusted) | 614.0 |
| Listing Open Price | 634.0 |
| Listing Close Price | 625.4 |
| Listing Gain% | 3.3% |
| Current Gain% | -46.9% |
Oswal Pumps Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oswal Pumps Ltd. | 326.1 | 3716.8 | 11.1 | 1.1 | 1.8 | 22.4 | 17.5 | 2085.9 | 45.6 | 376.3 | 34.1 | 29.4 | 10.1 |
| Elgi Equipments Ltd. | 588.4 | 18648.5 | 43.3 | 1.9 | 4.7 | 19.3 | 12.1 | 4068.5 | 14 | 430.2 | 22.8 | 13.6 | 22.9 |
| Kirloskar Brothers Ltd. | 1901.7 | 15101.2 | 40.4 | -3.9 | 3.2 | 15.2 | 8.5 | 4615.2 | 1.1 | 373.6 | -10 | 47 | -10.4 |
| KSB Ltd. | 784.2 | 13649 | 55.6 | -12.6 | 5 | 16.1 | 9.7 | 2754.9 | 7.2 | 270.5 | 9.3 | 14.1 | -4.4 |
| Ingersoll-Rand (India) Ltd. | 4322.4 | 13645 | 53.3 | -12.4 | 9.8 | 41.6 | 25.6 | 1430.8 | 4.1 | 256 | -4.3 | 81.1 | -4.3 |
| Kirloskar Pneumatic Company Ltd. | 1439.9 | 9354.1 | 35.6 | 1.4 | 5.2 | 20.5 | 14.6 | 1814.5 | 9.1 | 256.1 | 21.3 | 40.5 | 24.7 |
Oswal Pumps INFORMATION ON IPO ISSUE
About Oswal Pumps
Oswal Pumps Ltd. was incorporated on July 15, 2003. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. It serves diverse sectors, including agriculture, residential (gardens and water supply), commercial (malls and hotels), and industrial applications (boilers and water treatment)
Object of the Issue
- Funding the company’s capital expenditures
- Investing in Oswal Solar, a wholly-owned subsidiary, to set up new manufacturing units and prepay its outstanding borrowings
- Repaying or prepaying part or all of the company’s outstanding borrowings
- General corporate purposes
Oswal Pumps - PROMOTERS
| Name |
|---|
| Vivek Gupta |
| Amulya Gupta |
| Shivam Gupta |
Oswal Pumps Book Running Lead Managers
IIFL Securities Limited
oswalpumps.ipo@iiflcap.com
Axis Capital Limited
oswalpumps.ipo@axiscap.in
CLSA India Private Limited
oswalpumps.ipo@clsa.com
JM Financial Limited
oswalpumps.ipo@jmfl.com
Nuvama Wealth Management Limited
oswalpumps@nuvama.com
Oswal Pumps Registrar to the Offer
MUFG Intime India Private Limited
oswalpumps.ipo@linkintime.co.in
Oswal Pumps Strengths
Largest supplier of solar-powered agricultural pumps
The company is a top supplier of solar-powered agricultural pumps under the PM Kusum Scheme and is poised for industry growth. It’s India's fastest-growing vertically integrated solar pump manufacturer, with a 45.1% CAGR in revenue over the last three years
Engineering and design capabilities
The company has a strong engineering and design team dedicated to improving product design and reducing costs. They lower expenses by using sheet metal instead of stainless steel for submersible pump components, featuring professionals from various fields
Presence in major agricultural states
In FY24, the company expanded its presence across India by selling products through distributors. With a strong foothold in North India, particularly in key agricultural states, it diversifies its customer base and reduces reliance on any single region
Oswal Pumps Risks
Dependent on government schemes
The company earns a significant part of its revenue from supplying Turnkey Solar Pumping Systems through government tenders under the PM Kusum Scheme. However, future contracts are uncertain, and a reduction in government funding could negatively affect its business and financial health
Dependent on key customers and locations
In FY24, 79.5% of the company's revenue came from the top 10 customers. It also heavily relies on revenue from Haryana, Maharashtra, Uttar Pradesh, and Rajasthan, so adverse developments in these states could negatively impact its financial condition
Dependent on the agricultural sector
The company's business relies on the agricultural sector's performance. Adverse changes in this sector could negatively impact its operations, financial condition, and cash flow
IPO FAQs
This IPO consists of an offer for sale of up to Rs 497.3 crore, of 8,100,000 shares. It also consists of a fresh issue of Rs 890.0 crore.
The promoters of the company are Vivek Gupta, Amulya Gupta and Shivam Gupta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 584.0 - 614.0.
The IPO application opens on Jun 13, 2025 and closes on Jun 17, 2025.
The minimum lot size for the IPO is 24. The maximum lot size for the IPO is 312.
For all category investors, the minimum application amount for this IPO is Rs. 14,016.0, the maximum value for this IPO is Rs 191,568.0.
This IPO will be allotted on Jun 18, 2025.
The refund will be credited to your account on Jun 19, 2025.
The allotted shares will be credited to your demat on Jun 19, 2025.
Oswal Pumps Ltd.’s shares listed on the stock exchanges on Jun 20, 2025.