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Oswal Pumps shares had made their stock market debut on June 20, post which, they had made a high of ₹649.15, before correcting.
By Meghna Sen June 23, 2025, 11:58:19 AM IST (Published)
Shares of Oswal Pumps Ltd. fell as much as 8% in Monday's trading session and have now slipped below their IPO price of ₹614. The stock made an intraday low of ₹580 today and has now declined 11% from its post-listing peak.
Oswal Pumps shares had made their stock market debut on June 20, post which, they had made a high of ₹649.15, before correcting. The stock had ended higher on its trading debut, having listed at 3% premium to its IPO price.
The issue was subscribed 34.42 times overall, with demand primarily coming from qualified institutional investors and non-institutional bidders.
From the proceeds, ₹89.86 crore will be allocated for capital expenditure, ₹273 crore will 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.
Speaking to CNBC-TV18, Vivek Gupta, Chairman and Managing Director of Oswal Pumps, said that demand remains strong and even global markets have opened up.
"Currently, our pump capacity utilisation is at 80–85%. We expect to turn cash positive in FY26," he added.
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 ₹758.57 crore in FY24, up from ₹385.04 crore in the previous year. Net profit rose to ₹97.67 crore from ₹34.20 crore.
For the nine months ended December 2024, the company reported a revenue of ₹1,065.67 crore and a net profit of ₹216.71 crore.
Shares of Oswal Pumps had a marginal recovery from the lows of the day to trade 0.49% higher at ₹627.95.
