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HomeMarket NewsOswal Pumps sets IPO price band at ₹584-614; issue opens on June 13
The post issue implied market capitalisation is expected to be between ₹6,700 and ₹6,998 crore.
By Meghna Sen June 10, 2025, 9:51:46 AM IST (Published)
Integrated solar pump manufacturer Oswal Pumps has set the price band for its initial public offering (IPO) at ₹584-614 per share. The IPO will open for subscription on June 13 and close on June 17.
Investors can bid for 24 shares in one lot and its multiples thereafter.
The issue comprises of fresh issue of ₹890 crore and an offer for sale of 0.81 crore shares one of the promoters Vivek Gupta who currently holds a 25.17% stake in the company.
The post issue implied market capitalisation is expected to be between ₹6,700 and ₹6,998 crore.
From the proceeds, the company will allocate ₹89.86 crore for capital expenditure, ₹273 crore to be invested in subsidiary Oswal Solar to set up a new manufacturing facility in Haryana, ₹280 crore will go towards debt repayment, and ₹31 crore will be used to repay debt in Oswal Solar.
Incorporated in 2003, Oswal Pumps offers a diverse range of products catering to domestic, agricultural, and industrial applications, including solar pumps, submersible pumps, monoblock pumps, pressure pumps, sewage pumps, electric motors, submersible winding wires & cables, and electric panels.
As of August 31, 2024, the company had executed orders for 26,270 turnkey solar pumping systems directly under the PM-KUSUM Scheme for states like Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.
The company posted a revenue of Rs 758.57 crore in FY24, up from Rs 385.04 crore in the previous year. Net profit rose to Rs 97.67 crore from Rs 34.20 crore.
For the nine months ended December 2024, the company reported a revenue of Rs 1,065.67 crore and a net profit of Rs 216.71 crore.
IIFL Capital Services, Axis Capital, CLSA India, JM Financial, Nuvama Wealth Management are the book running lead managers, while MUFG Intime India (Link Intime) is the registrar for the issue.
The allotment for the Oswal Pumps IPO is expected to be finalised on June 18, while the company will be listing on BSE, NSE with a tentative listing date fixed as June 20.
