Oswal Pumps IPO Upcoming
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About Oswal Pumps
Oswal Pumps established in 2003, is one of India’s manufacturers of solar-powered and electric pumps, with a CAGR of 45.07% from FY22 to FY24. The company offers a diverse product portfolio including solar pumps, submersible and monoblock pumps, electric motors, and solar modules under the ‘Oswal’ brand. Serving agricultural, residential, commercial, and industrial sectors, Oswal is a leading supplier under the PM Kusum Scheme, with over 26,000 turnkey solar pumping systems delivered. With a pan-India distribution network, exports to 17 countries, and a strong in-house manufacturing base, Oswal is a trusted partner for sustainable water solutions.
Financials of Oswal Pumps
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | – |
| Fresh issue | ₹ 1000 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 89.36 (8.93%) |
| New manufacturing unit for subsidiary, Oswal Solar | 419.16 (41.91%) |
| Repayment/prepayment/redemption of outstanding borrowings | 235 (23.5%) |
| Repayment/prepayment/redemption of outstanding borrowings of subsidiary, Oswal Solar | 26 (2.6%) |
| General corporate purposes | – |
Strengths
- Largest supplier of agri-solar pumps under the PM-KUSUM scheme
- Vertically integrated manufacturing with strong engineering and design capabilities
- Wide product portfolio across diverse specifications
- Strong market presence in major agricultural states like Haryana
- Expanding reach through an extensive distribution network
- Backed by an experienced Promoter and leadership team
Risks
- Heavy revenue dependence on five flagship hotels affects financial stability.
- Persistent losses from prior years risk future financial health sustainability.
- Negative cash flow history challenges future operations and business continuity.
- Substantial debts require significant cash flows for servicing and growth.
- Exposure to risks from hotel renovations and delayed new constructions.
- Regulatory complexities may impact compliance, operations, and market positioning.