Oswal Pumps IPO Closed

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13th – 17th Jun 2025
20 Jun 2025
₹584 – ₹614
Lot size 24 — ₹14736
1387cr

Schedule of Oswal Pumps

Issue open date 13 Jun 2025
Issue close date 17 Jun 2025
UPI mandate deadline 17 Jun 2025 (5 PM)
Allotment finalization 18 Jun 2025
Refund initiation 19 Jun 2025
Share credit 19 Jun 2025
Listing date 20 Jun 2025
Mandate end date 02 Jul 2025
Lock-in end date for anchor investors (50%) 18 Jul 2025
Lock-in end date for anchor investors (remaining) 16 Sep 2025

Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.

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 ₹ 1387.34 crores
Fresh issue ₹ 890 crores
Offer for sale ₹ 497.34 crores

Utilisation of proceeds

Purpose INR crores (%)
Capital expenditure 89.86 (10.09%)
New manufacturing unit for subsidiary, Oswal Solar 272.75(30.64%)
Repayment/prepayment/redemption of outstanding borrowings 280 (31.4%)
Repayment/prepayment/redemption of outstanding borrowings of subsidiary, Oswal Solar 31 (3.48%)
General corporate purposes 216.39 (24%)

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

  • Business is reliant on the performance of the agricultural sector
  • Significant dependence on the top 10 customers for revenue
  • Geographic concentration of manufacturing facilities in Karnal, Haryana
  • Exposure to regional risks like political unrest and natural disasters
  • Risk of non-compliance with debt covenants and financing obligations
  • Operations involve hazardous materials posing safety and liability risks

Subscription Figures for Oswal Pumps

Subscription numbers as of 5:00 PM on 17 June 2025:

Category Reserved (lakhs) Applied (lakhs) Subscription (X times)
Institutional 45.19 2920.13 64.62x
NII  33.89 1285 37.90x
Retail  79.08 293.9 3.72x
Total 158.16 4498.68 28.44x