Oswal Pumps IPO is drawing significant attention with its ₹1,387.34 cr public issue. Established in 2003, Oswal Pumps is a leading Indian manufacturer of pumps and pumping systems catering to domestic, agricultural, and industrial sectors. The mainboard IPO will be listed on the NSE & BSE. With a price band of ₹584 to ₹614 per share, the IPO will be open for subscription from June 13 to June 17, 2025, with listing scheduled on June 20, 2025.
The company has shown remarkable growth, with revenue nearly tripling from FY22 to FY25 (9 months), the profitability has also surged accordingly. Oswal Pumps has been a prominent beneficiary of the PM-KUSUM Scheme, having executed over 26,000 solar pump installations in different Indian states. The proceeds from the IPO will be used for capital expenditure, expansion of its solar subsidiary, and debt repayment.
Oswal Pumps IPO Details
| IPO Name | Oswal Pumps IPO |
| Issue Type | Fresh Issue & OFS |
| Issue Size | ₹1,387.34 crores |
| IPO Open Date | June 13, 2025 |
| IPO Close Date | June 17, 2025 |
| Issue Price Band | ₹584 to ₹614 per share |
| Lot Size | 24 Shares |
| Listing Exchanges | NSE & BSE |
| Allotment Date | June 18, 2025 |
| Listing Date | June 20, 2025 |
| Retail Minimum Lot Size & Amount | 1 Lot & ₹14,736 |
| Retail Maximum Lot Size & Amount | 13 Lots & ₹1,91,568 |
| Small-HNIs Minimum Lot Size & Amount | 14 Lots & ₹2,06,304 |
| Small-HNIs Maximum Lot Size & Amount | 67 Lots & ₹9,87,312 |
| Big-HNIs Minimum Lot Size & Amount | 68 Lots & ₹10,02,048 |
Oswal Pumps IPO – FAQs
Q1: What are the IPO dates and listing details for Oswal Pumps?
- IPO Open: June 13, 2025
- IPO Close: June 17, 2025
- Allotment: June 18, 2025
- Listing: June 20, 2025
- Exchanges: BSE, NSE
Q2: What is the price band and lot size?
-
Price Band: ₹584 to ₹614 per share
-
Lot Size: 24 shares
Q3: What is the total issue size of the IPO?
-
Fresh Issue: ₹890 crore
-
Offer for Sale (OFS): 81 lakh shares (~₹497.34 crore)
-
Total Issue Size: ₹1,387.34 crore
Q4: Who are the lead managers and registrar for Oswal Pumps IPO?
-
Lead Managers: Axis Capital, IIFL Securities, JM Financial, CLSA, Nuvama
-
Registrar: Link Intime India Private Ltd
Q5. What is the lot size & the required amount for retail investors?
- Retail Minimum Lot Size & Amount1 Lot & ₹14,736
- Retail Maximum Lot Size & Amount13 Lots & ₹1,91,568
Q6. What is the lot size & the required amount for HNIs?
- Small-HNIs Minimum Lot Size & Amount14 Lots & ₹2,06,304
- Small-HNIs Maximum Lot Size & Amount67 Lots & ₹9,87,312
- Big-HNIs Minimum Lot Size & Amount68 Lots & ₹10,02,048
Q.7 How will the IPO proceeds be utilized?
The IPO proceeds will be utilized for :
| Purpose | Amount (₹ crore) |
|---|---|
| Capital expenditure | 89.86 |
| Investment in subsidiary Oswal Solar for setting up new units | 272.76 |
| Repayment of company borrowings | 280.00 |
| Repayment of Oswal Solar’s borrowings | 31.00 |
| General corporate purposes | Remaining Balance |
Q.8 What is the financial performance of the company?
| Period Ended | Revenue (₹ Cr) | Profit After Tax (₹ Cr) |
|---|---|---|
| 31 Dec 2024 | 1,067.34 | 216.71 |
| 31 Mar 2024 | 761.23 | 97.67 |
| 31 Mar 2023 | 387.47 | 34.20 |
| 31 Mar 2022 | 361.11 | 16.93 |
Q.9 What is the current Grey Market Premium (GMP)?
As of June 12th, 2025, the GMP is hovering between ₹ 67-₹100, indicating a possible 11~16% listing gain.
Q.10 What is the allocation pattern for investors?
-
QIBs: 50%
-
Non-Institutional Investors (HNIs): 15%
-
Retail Individual Investors (RIIs): 35%
Q.11 What are the company’s strengths?
-
Strong presence in the solar pump market via PM-KUSUM
-
Robust distributor network: 636 distributors (up from 473 in 2022)
-
Export presence in 17 countries
-
Fully integrated facility in Karnal, Haryana
Oswal Pumps IPO – Conclusion
Oswal Pumps’ IPO offers investors a compelling investment opportunity in India’s rapidly growing renewable and water infrastructure sector. The company is on a solid footing for future growth with strong financials, a wide product portfolio, government-backed business (PM-KUSUM), and export expansion.
However, potential investors should assess the risks, such as the company’s high dependence on government subsidies and sectoral concentration in agriculture and renewable segments. Any adverse changes in policy or slowdown in these sectors could impact growth.
That said, positive GMP, reflecting strong investor sentiment, coupled with the use of IPO proceeds for expansion and debt reduction, the IPO appears promising. For investors with a medium- to long-term investment horizon, Oswal Pumps IPO could be a worthy candidate, provided the risks are acknowledged and factored into the decision-making process.