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Business Standard
23-06-2025
- Business
- Business Standard
Oswal Pumps share slips 7%, falls below IPO price after lacklustre debut
Oswal Pumps share price today: Shares of Oswal Pumps slipped 7 per cent to ₹580, falling below its issue price ₹614 on the BSE in Monday's intra-day trade. The company, engaged in compressors, pumps & diesel engines business, made a lacklustre debut on Friday, June 20, 2025. Including today's decline, the stock has fallen 11 per cent from its listing day's high of ₹649.15 on the BSE. At 10:09 AM, Oswal Pumps shares erased its entire intra-day losses and traded flat at ₹626 on the BSE. In comparison, the BSE Sensex was down 1 per cent at 81,549 levels. Oswal Pumps IPO details Oswal Pumps raised ₹1,387.34 crore via initial public offering (IPO). The public issue was a combination of fresh issue and Offer-for-Sale (OFS). The company did not receive any proceeds from the OFS. The company, however, intends to utilise the proceeds from the fresh issue for funding certain capital expenditure, investing in its wholly-owned subsidiary, Oswal Solar, through equity, funding the establishment of new manufacturing units in Karnal, Haryana, and for pre-payment/repayment, in part or full, of certain outstanding borrowings availed by the company. Oswal Pumps business outlook The pump industry plays a very pivotal role in sectors such as agriculture, manufacturing and residential. Increasing investments in the renewable energy sector like solar panels and advancements in pump manufacturing technology like smart pumps, pumps developed for specific use cases requiring highly specialised functions are poised to fuel growth for the global pump market in the future. This expansion will be supported by factors such as rapid urbanisation, rising demand in the power sector, and a focus on water recycling and wastewater treatment, among other drivers. Oswal Pumps derives its revenue from a diversified customer base, including institutional customers, government entities, and distributors. In FY22, 58.7 per cent of the revenue was generated from institutional customers, which increased to 75.6 per cent in FY23. However, this contribution declined to 43.4 per cent in FY24 and further to 7.15 per cent for the nine months ended December 31, 2024. The company did not generate any revenue from government entities in FY22 and FY23. However, in FY24, revenue from government entities accounted for 45.6 per cent, rising considerably to 78.51 per cent during the nine-month period ended December 31, 2024. ALSO READ | The company's recent growth has been largely driven by its participation in the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) scheme, raising concerns over concentration risk and the sustainability of this growth momentum. Additionally, the elongated working capital cycle and cash flow pressures add to the overall risk profile, according to Choice Equity Broking. Oswal Pumps is amongst the largest suppliers of solar pumps under PM Kusum Scheme for FY23 & FY24 and is one of the few companies with vertically integrated turnkey solar pumping system capabilities in India. The company currently has an order book of ₹ 1,100 crore which is ~0.8x of its 9MFY25 annualised revenue with an additional bid pipeline of ~₹ 3,200 crore indicating decent growth visibility. However, an overhang for the business would be its dependence on government projects/policy and delay in cash flow, SBI Securities said in its IPO note. About Oswal Pumps Oswal Pumps manufactures and distributes a diverse range of pumps for domestic, agricultural, and industrial applications. The company has executed orders for 26,270 turnkey solar pumping systems under the PM-KUSUM Scheme for several Indian states. Oswal Pumps operates a manufacturing facility in Karnal, Haryana, and has a growing network of distributors across India. The company exports its products to 17 countries across the Asia-Pacific, Middle East, and North Africa regions.
Business Standard
20-06-2025
- Business
- Business Standard
Oswal Pumps gains on debut
Shares of Oswal Pumps were currently trading at Rs 641.20 at 10:14 IST on the BSE, representing a premium of 4.43% compared with the issue price of Rs 614. The scrip was listed at 632, matching the initial public offer (IPO) price. The stock was currently up 2.93% over its listing price. So far, the stock has hit a high of 646.25 and a low of 625.20. On the BSE, over 6.96 lakh shares of the company were traded in the counter so far. The initial public offer of Oswal Pumps was subscribed 34.42 times. The issue opened for bidding on 13 June 2025 and it closed on 17 June 2025. The price band of the IPO is fixed between Rs 584 and 614 per share. The issue comprised both a fresh issue of equity shares upto Rs 890 crore and an offer for sale up to 81,00,000 equity shares by Vivek Gupta, one of the promoters of the company. The company proposes to utilize the net proceeds from the issue towards capital expenditure of Rs 89.86 crore; Rs 272.76 crore for investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for funding the setting up of new manufacturing units at Karnal, Haryana; Rs 280 crore for prepayment/repayment, in part or full, of certain outstanding borrowings availed by the company; Rs 31 crore for investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for repayment/prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar; and general corporate purposes. Oswal Pumps, established by Padam Sain Gupta (father of Vivek Gupta, one of its promoters and chairman and managing director), commenced its operations in 2003 with the manufacturing of low-speed monoblock pumps. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the Oswal brand. It is one of the few fully integrated turnkey solar pumping system providers in India with the capability to manufacture solar-powered agricultural pumps, solar modules and pump controllers and provide installation services for such systems. Sales of majority of its products are geographically concentrated, with the four states of Haryana, Maharashtra, UttarPradesh and Rajasthan accounting for 90.47% and 90.78% of its 9mFY25 and FY24 revenue Ahead of the IPO, Oswal Pumps on Thursday, 12 June 2025, raised Rs 416.20 crore from anchor investors. The board allotted 67,78,533 shares at Rs 614 each to 25 anchor investors. The firm reported a consolidated net profit of Rs 215.80 crore and a total income of Rs 1,065.67 crore for the nine months ended on 31 December 2024.
Business Standard
18-06-2025
- Business
- Business Standard
Oswal Pumps IPO ends with 34.42x subscription
The offer received bids for 55.80 crore shares as against 1.62 crore shares on offer. The initial public offer of Oswal Pumps received bids for 55,80,42,696 shares as against 1,62,12,980 shares on offer. The issue was subscribed 34.42 times. The Qualified Institutional Buyers (QIBs) category was subscribed 88.08 times. The Non-Institutional Investors (NIIs) category was subscribed 36.70 times. The Retail Individual Investors (RIIs) category was subscribed 3.60 times. The issue opened for bidding on 13 June 2025 and it closed on 17 June 2025. The price band of the IPO is fixed between Rs 584 and 614 per share. The issue comprised both a fresh issue of equity shares upto Rs 890 crore and an offer for sale up to 81,00,000 equity shares by Vivek Gupta, one of the promoters of the company. The company proposes to utilize the net proceeds from the issue towards capital expenditure of Rs 89.86 crore; Rs 272.76 crore for investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for funding the setting up of new manufacturing units at Karnal, Haryana; Rs 280 crore for pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by the company; Rs 31 crore for investment in its wholly-owned Subsidiary, Oswal Solar, in the form of equity, for repayment/prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar; and general corporate purposes. Oswal Pumps, established by Padam Sain Gupta (father of Vivek Gupta, one of its promoters and chairman and managing director), commenced its operations in 2003 with the manufacturing of low-speed monoblock pumps. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the Oswal brand. It is one of the few fully integrated turnkey solar pumping system providers in India with the capability to manufacture solar-powered agricultural pumps, solar modules and pump controllers and provide installation services for such systems. Sales of majority of its products are geographically concentrated, with the four states of Haryana, Maharashtra, UttarPradesh and Rajasthan accounting for 90.47% and 90.78% of its 9mFY25 and FY24 revenue Ahead of the IPO, Oswal Pumps on Thursday, 12 June 2025, raised Rs 416.20 crore from anchor investors. The board allotted 67,78,533 shares at Rs 614 each to 25 anchor investors. The firm reported a consolidated net profit of Rs 215.80 crore and a total income of Rs 1,065.67 crore for the nine months ended on 31 December 2024.
Business Standard
17-06-2025
- Business
- Business Standard
Oswal Pumps IPO subscribed 34.42 times
The offer received bids for 55.80 crore shares as against 1.62 crore shares on offer. The initial public offer of Oswal Pumps received bids for 55,80,29,616 shares as against 1,62,12,980 shares on offer, according to stock exchange data at 17:30 IST on Tuesday (17 June 2025). The issue was subscribed 34.42 times. The issue opened for bidding on 13 June 2025 and it will close on 17 June 2025. The price band of the IPO is fixed between Rs 584 and 614 per share. An investor can bid for a minimum of 24 equity shares and in multiples thereof. The issue comprises both a fresh issue of equity shares upto Rs 890 crore and an offer for sale up to 81,00,000 equity shares by Vivek Gupta, one of the promoters of the company. The company proposes to utilize the net proceeds from the issue towards capital expenditure of Rs 89.86 crore; Rs 272.76 crore for investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for funding the setting up of new manufacturing units at Karnal, Haryana; Rs 280 crore for pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by the company; Rs 31 crore for investment in its wholly-owned Subsidiary, Oswal Solar, in the form of equity, for repayment/prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar; and general corporate purposes. Oswal Pumps, established by Padam Sain Gupta (father of Vivek Gupta, one of its promoters and chairman and managing director), commenced its operations in 2003 with the manufacturing of low-speed monoblock pumps. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the Oswal brand. It is one of the few fully integrated turnkey solar pumping system providers in India with the capability to manufacture solar-powered agricultural pumps, solar modules and pump controllers and provide installation services for such systems. Sales of majority of its products are geographically concentrated, with the four states of Haryana, Maharashtra, UttarPradesh and Rajasthan accounting for 90.47% and 90.78% of its 9mFY25 and FY24 revenue Ahead of the IPO, Oswal Pumps on Thursday, 12 June 2025, raised Rs 416.20 crore from anchor investors. The board allotted 67,78,533 shares at Rs 614 each to 25 anchor investors. The firm reported a consolidated net profit of Rs 215.80 crore and a total income of Rs 1,065.67 crore for the nine months ended on 31 December 2024.
Mint
17-06-2025
- Business
- Mint
Oswal Pumps IPO Day 3 Live: Issue booked 1.61x so far. Check GMP, key dates, issue details. Should you apply or not?
The initial public offering (IPO) for Oswal Pumps Ltd started on Friday, June 13, and will end today, June 17. The interest in the Oswal Pumps IPO has been quite strong on the second day of bidding on Monday, where the issue was completely subscribed with Non-Institutional Investors (NIIs) and retail investors taking the lead. On Thursday, the company raised ₹ 416.2 crore from anchor investors just a day before opening the share sale to public subscriptions. Among the anchor investors are ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant MF, Societe Generale, Edelweiss Life Insurance, BNP Paribas, the Parisian asset management firm Amundi, and the financial services company Capital Group, as stated in a circular published on the BSE's website. Oswal Pumps IPO price band has been established between ₹ 584 and ₹ 614 per share for a total initial public offering amounting to ₹ 1,387 crore. Investors can submit bids for a minimum of 24 equity shares and in multiples of 24 shares thereafter. The basis of allotment of shares for the Oswal Pumps IPO is expected to be finalised on Wednesday, June 18, with refunds starting on Thursday, June 19, and shares being credited to the demat accounts of allottees on the same day following the refunds. The shares of Oswal Pumps listing date is scheduled on BSE and NSE on Friday, June 20. The firm focuses on producing submersible and monoblock pumps powered by solar energy and connected to the grid, in addition to electric motors, comprising both induction and submersible types, along with solar panels, all sold under the 'Oswal' brand. With more than 22 years of experience in the industry, the company has developed significant knowledge in engineering, product design, manufacturing, and testing. Oswal Pumps IPO subscription status is 1.61 times on day 2, so far. The retail portion was subscribed 1.12 times, and NII portion was booked 4.50 times. Qualified Institutional Buyers (QIBs) portion received 27% bids. The company has received bids for 2,61,59,928 shares against 1,62,12,980 shares on offer, at 17:00 IST, according to data on BSE. The initial public offering includes a new issuance of equity shares worth ₹ 890 crore and a sale of up to 8.1 million shares by one of the company's promoters, Vivek Gupta, who currently holds a 25.17 percent stake in the company. From the raised capital, ₹ 89.86 crore will be designated for capital expenditures, ₹ 273 crore will assist the subsidiary Oswal Solar in establishing a new manufacturing facility in Haryana, ₹ 280 crore will be used for debt repayments, and ₹ 31 crore will go toward settling debts at Oswal Solar. The key underwriters managing this offering are IIFL Capital, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management. Oswal Pumps IPO GMP today is +56. This indicates Oswal Pumps share price was trading at a premium of ₹ 56 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Oswal Pumps share price is indicated at ₹ 670 apiece, which is 9.12% higher than the IPO price of ₹ 614. In light of the grey market activities over the last 11 sessions, the IPO GMP is showing an upward trend today and is anticipated to have a robust listing. According to experts at the lowest GMP is ₹ 0.00, while the highest reaches ₹ 88.00. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
