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Business Standard
10-07-2025
- Business
- Business Standard
Rajasthan is emerging as a major hub of decentralised solar energy
Chief Minister Bhajanlal Sharma has committed to provide daytime electricity to farmers in the state by 2027 Listen to This Article Along with making strides in solar energy, Rajasthan is also emerging as the country's major hub in the field of decentralised solar energy, Arti Dogra, chairman, Jaipur DISCOMs, said. 'In the past year, the state has achieved progress in this field. This has been possible due to the effective implementation of the Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan (Kusum Yojana) at the ground level,' she said. As a result, 684 decentralised solar power plants, with a total capacity of 1305 Mw, have been established in the state. A senior official of the energy department said that of these,
Time of India
17-06-2025
- Business
- Time of India
Oswal Pumps IPO subscribed 2 times on final day; GMP slips to Rs 55
Oswal Pumps IPO: It includes a fresh issue of shares amounting to ₹890 crore and an offer for sale of 81 lakh shares by promoter Vivek Gupta. Prior to the public issue, the company raised ₹416 crore from anchor investors on June 12 by allotting 67.78 lakh shares at ₹614 each to prominent institutions such as Societe Generale, Smallcap World Fund, and ICICI Prudential. Tired of too many ads? Remove Ads Oswal Pumps IPO GMP Tired of too many ads? Remove Ads Oswal Pumps IPO price band Valuation and analyst views What does Oswal Pumps do? Financials of Oswal Pumps Tired of too many ads? Remove Ads The Rs 1,387 crore initial public offering (IPO) of Oswal Pumps , one of India's fastest-growing solar pump manufacturers , was subscribed 1.99 times so far on Tuesday, the third and last day of the bidding of 10:03 am, the issue received bids for 3.23 crore shares against 1.62 crore on offer. Non-institutional investors led the demand, subscribing 5.97 times their quota, while retail investors subscribed 1.24 times and QIBs 28%.The IPO opened for public subscription on June 13 and will close today, June IPO comprises a fresh issue of shares worth Rs 890 crore and an offer for sale of 81 lakh shares by promoter Vivek Gupta. The company raised Rs 416 crore from anchor investors on June 12 by allocating 67.78 lakh shares at Rs 614 apiece to marquee institutions like Societe Generale, Smallcap World Fund, and ICICI Prudential The grey market premium has slipped to Rs 55–56 from Rs 60, implying a listing gain of about 9%.The price band for the IPO is set at Rs 584–614 per share. Investors can bid for a minimum of 24 shares and in multiples the upper end of the price band, Oswal Pumps is valued at a post-issue P/E of 24.2x and EV/EBITDA of 15.1x, levels seen as reasonable when compared with peers like Shakti Pumps, KSB, and Kirloskar Brothers. Analysts note Oswal's stronger return ratios, with RoE at 72.6% and RoCE at 56%, as key Securities has recommended subscribing to the IPO for the long term, citing 'strong revenue and profit growth, robust order book (Rs 1,100 crore), and leadership in solar pump installations.' However, the brokerage also flagged risks such as 'dependence on government schemes and a high receivables cycle (140–150 days).'Founded in 2000, Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. It has grown rapidly under government schemes such as the PM Kusum Yojana, under which it accounted for around 38% of India's installed solar pumps as of December operates a large single-site pump facility in Karnal, Haryana, with vertically integrated manufacturing capabilities. It also sells through 925 distributors across India and launched its own retail outlets — 'Oswal Shopee' — which numbered 248 as of June company posted strong financials with revenue increasing from Rs 360 crore in FY22 to Rs 759 crore in FY24, while PAT jumped from Rs 17 crore to Rs 98 crore. For the nine months ended December 2024, it reported a revenue of Rs 1,066 crore and net profit of Rs 217 crore, with an EBITDA margin of 30.1% and PAT margin of 20.3%.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
16-06-2025
- Business
- Economic Times
Oswal Pumps IPO subscribed 36% on Day 2; GMP softens despite retail interest. Should you subscribe?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Rs 1,387 crore initial public offering ( IPO ) of Oswal Pumps , one of India's fastest-growing solar pump manufacturers , was subscribed 36% as of the second day of bidding on Monday, with strong traction from retail and non-institutional investors even as institutional demand remained 10:44 a.m., the IPO had garnered bids for 57.89 lakh shares against the 1.62 crore shares on offer. Non-institutional investors led the way, subscribing 79% of their allocated portion, followed by retail investors at 37%. Qualified institutional buyers (QIBs) had bid for just 1% of their IPO, which opened for subscription on June 13 and will close on June 17, comprises a fresh issue worth Rs 890 crore and an offer for sale of 81 lakh shares by promoter Vivek of the issue, Oswal Pumps raised Rs 416 crore from anchor investors on June 12 by allotting 67.78 lakh shares at Rs 614 per share to marquee institutions such as Societe Generale, Smallcap World Fund, and ICICI Prudential The price band for the IPO has been set at Rs 584–614 per share, with a lot size of 24 grey market premium (GMP) for Oswal Pumps stood at Rs 49 as of 10:02 a.m. on June 16, indicating an estimated listing price of Rs 663, an expected gain of 7.98% over the cap price. The GMP ranged between Rs 64 and Rs 65 on Friday, hinting at some cooling in unofficial demand ahead of the final day of in 2000, Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. The company has scaled rapidly under government initiatives like the PM Kusum Yojana and accounted for approximately 38% of India's installed solar pumps as of December operates a large, vertically integrated facility in Karnal, Haryana, and sells through 925 distributors and 248 company-owned outlets branded as 'Oswal Shopee' as of June Oswal's growth has been robust — revenue rose from Rs 360 crore in FY22 to Rs 759 crore in FY24, while net profit surged from Rs 17 crore to Rs 98 crore. For the nine months ended December 2024, it reported Rs 1,066 crore in revenue and Rs 217 crore in profit, with an EBITDA margin of 30.1% and PAT margin of 20.3%.At the upper end of the price band, Oswal Pumps is valued at a post-issue P/E of 24.2x and EV/EBITDA of 15.1x, levels seen as reasonable when compared with peers like Shakti Pumps, KSB, and Kirloskar Brothers. Analysts note Oswal's stronger return ratios, with RoE at 72.6% and RoCE at 56%, as key Securities has recommended subscribing to the IPO for the long term, citing 'strong revenue and profit growth, robust order book (Rs 1,100 crore), and leadership in solar pump installations.' However, the brokerage also flagged risks such as 'dependence on government schemes and a high receivables cycle (140–150 days).'(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
16-06-2025
- Business
- Time of India
Oswal Pumps IPO subscribed 36% on Day 2; GMP softens despite retail interest. Should you subscribe?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Rs 1,387 crore initial public offering ( IPO ) of Oswal Pumps , one of India's fastest-growing solar pump manufacturers , was subscribed 36% as of the second day of bidding on Monday, with strong traction from retail and non-institutional investors even as institutional demand remained 10:44 a.m., the IPO had garnered bids for 57.89 lakh shares against the 1.62 crore shares on offer. Non-institutional investors led the way, subscribing 79% of their allocated portion, followed by retail investors at 37%. Qualified institutional buyers (QIBs) had bid for just 1% of their IPO, which opened for subscription on June 13 and will close on June 17, comprises a fresh issue worth Rs 890 crore and an offer for sale of 81 lakh shares by promoter Vivek of the issue, Oswal Pumps raised Rs 416 crore from anchor investors on June 12 by allotting 67.78 lakh shares at Rs 614 per share to marquee institutions such as Societe Generale, Smallcap World Fund, and ICICI Prudential The price band for the IPO has been set at Rs 584–614 per share, with a lot size of 24 grey market premium (GMP) for Oswal Pumps stood at Rs 49 as of 10:02 a.m. on June 16, indicating an estimated listing price of Rs 663, an expected gain of 7.98% over the cap price. The GMP ranged between Rs 64 and Rs 65 on Friday, hinting at some cooling in unofficial demand ahead of the final day of in 2000, Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. The company has scaled rapidly under government initiatives like the PM Kusum Yojana and accounted for approximately 38% of India's installed solar pumps as of December operates a large, vertically integrated facility in Karnal, Haryana, and sells through 925 distributors and 248 company-owned outlets branded as 'Oswal Shopee' as of June Oswal's growth has been robust — revenue rose from Rs 360 crore in FY22 to Rs 759 crore in FY24, while net profit surged from Rs 17 crore to Rs 98 crore. For the nine months ended December 2024, it reported Rs 1,066 crore in revenue and Rs 217 crore in profit, with an EBITDA margin of 30.1% and PAT margin of 20.3%.At the upper end of the price band, Oswal Pumps is valued at a post-issue P/E of 24.2x and EV/EBITDA of 15.1x, levels seen as reasonable when compared with peers like Shakti Pumps, KSB, and Kirloskar Brothers. Analysts note Oswal's stronger return ratios, with RoE at 72.6% and RoCE at 56%, as key Securities has recommended subscribing to the IPO for the long term, citing 'strong revenue and profit growth, robust order book (Rs 1,100 crore), and leadership in solar pump installations.' However, the brokerage also flagged risks such as 'dependence on government schemes and a high receivables cycle (140–150 days).'(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
13-06-2025
- Business
- Economic Times
Oswal Pumps IPO to open for subscription today; GMP at 11%: Should you bid?
Oswal Pumps, one of India's fastest-growing solar pump manufacturers, will open its Rs 1,387 crore IPO for public subscription on June 13. The issue will close on June 17. The price band for the IPO is fixed at Rs 584–614 per share, and investors can bid for a minimum of 24 shares and in multiples thereafter. ADVERTISEMENT The IPO comprises a fresh issue of shares worth Rs 890 crore and an offer for sale of 81 lakh shares by promoter Vivek Gupta. The company raised Rs 416 crore from anchor investors on June 12 by allocating 67.78 lakh shares at Rs 614 apiece to marquee institutions like Societe Generale, Smallcap World Fund, ICICI Prudential. The grey market premium (GMP) for Oswal Pumps stood at Rs 68. With a cap price of Rs 614, the estimated listing price is around Rs 682, implying a listing gain of about 11%. Founded in 2000, Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. It has grown rapidly under government schemes such as the PM Kusum Yojana, under which it accounted for around 38% of India's installed solar pumps as of December operates a large single-site pump facility in Karnal, Haryana, with vertically integrated manufacturing capabilities. It also sells through 925 distributors across India and launched its own retail outlets — 'Oswal Shopee' — which numbered 248 as of June 2025. ADVERTISEMENT The company posted strong financials with revenue increasing from Rs 360 crore in FY22 to Rs 759 crore in FY24, while PAT jumped from Rs 17 crore to Rs 98 crore. For the nine months ended December 2024, it reported a revenue of Rs 1,066 crore and net profit of Rs 217 crore, with an EBITDA margin of 30.1% and PAT margin of 20.3%. ADVERTISEMENT At the upper band, the post-issue P/E is 24.2x, and EV/EBITDA is 15.1x — reasonable compared to listed peers like Shakti Pumps, KSB and Kirloskar Brothers, especially given Oswal's superior return ratios (RoE of 72.6% and RoCE of 56%).SBI Securities recommend subscribing to the IPO for a long-term horizon, citing strong revenue and profit growth, robust order book (Rs 1,100 crore), and leadership in solar pump installations. However, risks include dependence on government schemes and a high receivables cycle (140–150 days). ADVERTISEMENT "Subscribe for long-term due to strong fundamentals, dominant market share under PM Kusum, and efficient cost structures," it said. (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
