Oswal Pumps Limited’s ₹1,387 crore initial public offering will close today at after recording a cumulative subscription of 2.69 times across all categories as of 10.45 AM. The three-day public issue, which opened on Friday, June 13, has attracted strong investor interest with total bids worth ₹436.76 crore against the offered amount of ₹162.13 crore.

The solar pump manufacturer’s IPO, priced between ₹584-614 per share, comprises a fresh issue of ₹890 crore and an offer for sale of 81 lakh shares by promoter Vivek Gupta. Non-Institutional Investors led the subscription with 8.69 times oversubscription, receiving bids worth ₹304.14 crore against their reserved portion of ₹35.01 crore.

Retail Individual Investors subscribed 1.46 times their allocated quota, with bids totalling ₹119.09 crore against the reserved ₹81.69 crore. However, Qualified Institutional Buyers remained subdued, subscribing only 0.30 times their allocated ₹45.43 crore portion.

Oswal Pumps, India’s fastest-growing vertically integrated solar pump manufacturer with 45.07 per cent revenue CAGR between fiscal 2022-24, reported revenues of ₹758.57 crore in fiscal 2024. For nine months ended December 2024, the company posted revenues of ₹1,065.67 crore and profit after tax of ₹216.71 crore.

The Karnal-based company plans to use proceeds for capex, subsidiary investments, debt repayment, and general corporate purposes. IIFL Capital, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth are the book-running lead managers.

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Published on June 17, 2025