For a better experience, Read this story in our App
TO ENJOY ADDITIONAL BENEFITS
Connect With Us
Get BusinessLine apps on
The ₹1,387.34-crore initial public offering from Oswal Pumps, a vertically integrated solar pump manufacturer, opens today for public subscription. The company has fixed the price band as ₹584-614. The IPO, a mix of fresh issues of ₹890 crore and an offer-for-sale of 81 lakh shares worth ₹497.34 crore by its promoter Vivek Gupta, will close on June 17.
Shares will be listed on the mainboards of the BSE and the NSE.
Investors can bid for a minimum of 24 equity shares. The offer is being made through the book-building process, wherein not more than 50 per cent of the net offer shall be available for allocation to qualified institutional buyers, not less than 15 per cent for non-institutional bidders, and up to 35 per cent for retail investors.
As part of the IPO, Oswal Pumps has garnered ₹416.20 crore from anchor investors. The company informed the bourses that it allocated 67,78,533 shares at ₹614 a share to anchor investors. Some of the marquee Institutions that participated in the anchor include Societe Generale, BNP Paribas, Smallcap World Fund Inc, ICICI Prudential, Aditya Birla Sunlife, Kotak Mahindra MF, Quant MF, Amundi Funds, 360 One, Motilal Oswal MF, Bandhan Small Cap Fund, Edelweiss MF, Troo Capital, Nuvama MF, Sundaram MF, Edelweiss Life Insurance, Mahindra Manulife, etc.
According to its DRHP, proceeds from its fresh issuance, to the extent of ₹89.86 crore will be utilised for funding capital expenditure; ₹272.76 crore for investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for funding new manufacturing units at Karnal, Haryana; ₹280 crore for pre-payment/re-payment, in part or full, of outstanding borrowings availed by the company; and ₹31 crore to meet outstanding borrowings availed by Oswal Solar; and general corporate purposes.
IIFL Capital Services Ltd, Axis Capital, CLSA India Private Ltd, JM Financial Ltd, and Nuvama Wealth Management Ltd are the BRLMs, and MUFG Intime India Private Ltd is the issue’s registrar.
Published on June 13, 2025
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.