Latest IPO in India: Oswal Pumps Ltd – Positive 5 Bold Reasons Why It Stands Out
Oswal Pumps Ltd has entered the IPO arena with a solar-energy-centric manufacturing edge, impressive financial growth, and high anchor investor interest. Here’s a complete breakdown of the IPO details including the IPO price band, lot size, and IPO subscription status.
Company Overview
Founded in 2003 in Karnal, Haryana, Oswal Pumps manufactures submersible pumps, motors, and solar pumping systems. It has completed over 38,000 solar pump installations under the PM-Kusum scheme.
IPO Timeline
- Anchor Book Opened: June 12, 2025
- IPO Opens: June 13, 2025
- IPO Closes: June 17, 2025
- Allotment Date: June 18, 2025
- Listing Date: June 20, 2025
Price Band
The IPO price band is set between ₹584–₹614 per share. The company plans to raise ₹1,387.34 crore via the issue.
Lot Size
The lot size is 24 shares, requiring a minimum investment of ₹14,736.
Key Dates
| Event | Date | Details |
|---|---|---|
| Anchor Allotment | June 12 | ₹416.20 Cr at ₹614/share |
| IPO Open | June 13 | Public Subscription Begins |
| IPO Close | June 17 | Subscription Ends |
| Allotment | June 18 | Shares Allocation |
| Listing | June 20 | NSE & BSE Debut |
Financials
- FY24 Revenue: ₹758.6 Cr (97% YoY growth)
- FY24 PAT: ₹97.66 Cr (from ₹34.20 Cr)
- Order Book: ₹1,100 Cr with ₹3,200 Cr pipeline
- RoNW: ~88.7%
Strengths
- India’s largest solar pump installer under PM-Kusum
- Vertical integration from solar modules to pumps
- Impressive anchor investor participation
- Strong growth and profitability
Risks
- Heavy dependence on government schemes (~85%)
- High receivables (~66% of revenue)
- Working capital and repayment risks
- Valuation at 24.2× P/E vs peer average of 42×
IPO Anchor Investors Details
Over ₹416.20 Cr raised from top anchors like ICICI Prudential, Kotak MF, BNP Paribas, Amundi, and Capital Group.
IPO Promoter Holding Details
| Shareholder | Pre-IPO Holding | Post-IPO Holding |
|---|---|---|
| Promoters (Vivek, Amulya, Shivam Gupta) | 100% | ~80% |
IPO Grey Market Premium (GMP)
| Source | GMP (₹) | Implied Listing Gain |
|---|---|---|
| Economic Times | ₹68 | ~11% |
| Moneycontrol | ₹68–71 | ~11% |
| InvestorGain | ₹40 | ~6.5% |
Final Thoughts
Oswal Pumps Ltd’s latest IPO in India checks many boxes: solid anchor backing, revenue growth, and ESG alignment. However, investors must weigh risks like dependence on subsidies and high working capital cycles. Those betting on India’s solar infrastructure momentum may find this IPO attractive for the long term.
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