Oswal Pumps IPO to open on Friday; here's what GMP signals ahead of the issue launch

Oswal Pumps GMP ahead of opening: The initial public offering (IPO) of Oswal Pumps, which is set to open for bidding on Friday, June 13, is commanding a healthy grey market premium (GMP) of ₹67 as of Wednesday.

Based on the issue's upper price band of ₹614 and the current Oswal Pumps IPO GMP, the estimated listing price for the company shares stands at ₹681 per share—an 11% premium over the issue price. The GMP reflects investors’ willingness to pay above the IPO price, indicating positive sentiment ahead of the launch.

Investors should note that the GMP is likely to fluctuate throughout the bidding period.

Oswal Pumps IPO details

The IPO will open for bidding on Friday, June 13, and remain open until Tuesday, June 17. The company aims to raise ₹1,387 crore from investors through a combination of a fresh issue of 1.45 crore shares aggregating ₹890 crore and an offer for sale (OFS) of 0.81 crore shares aggregating ₹497.34 crore.

The company plans to use the IPO proceeds as follows: ₹89.86 crore will be allocated for capital expenditure, ₹273 crore will be invested in its subsidiary Oswal Solar to establish a new manufacturing facility in Haryana, ₹280 crore will go towards debt repayment, and ₹31 crore will be used to settle debt at Oswal Solar.

In Oswal Pumps IPO, not more than 50% of the shares are reserved in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

If successfully listed on the exchanges, Oswal Pumps will have to compete with existing listed players, including Kirloskar Brothers, Shakti Pumps (India), WPIL, KSB, and Roto Pumps.

Allotment and listing details

Tentatively, Oswal Pumps IPO basis of allotment of shares will be finalised on Wednesday, June 18, and the company will initiate refunds on Thursday, June 19, while the shares will be credited to the demat account of allottees on the same day following the refund. Oswal Pumps share price is likely to be listed on BSE and NSE on Friday, June 20.

About Oswal Pumps

The company specialises in the production of solar-powered and grid-connected submersible and monoblock pumps, electric motors such as induction and submersible motors, as well as solar modules, all branded under ‘Oswal’. With more than 22 years of experience, it has developed substantial expertise in engineering, product design, manufacturing, and testing.

As of December 31, 2024, Oswal Pumps has completed 38,132 turnkey solar pumping system orders under the PM Kusum Scheme in states including Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.

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