Oswal Pumps IPO GMP Indicates Over 15% Listing Gains Ahead Of June 13 Launch; Check Details

Oswal Pumps is set to launch its initial public offering (IPO) to raise nearly Rs 1,400 crore. The mainboard issue will open for subscription on Friday, June 13 and close on Tuesday, June 17. The company is in the business of manufacturing and distributing pumps.

Here's all you need to know about the Oswal Pumps IPO, including the latest grey market premium, price band, offer size and more.

According to InvestorGain, the grey market premium (GMP) for the Oswal Pumps IPO stood at Rs 100 at 4:35 p.m. on June 11. The latest GMP indicates listing of shares at Rs 714 apiece, at a potential premium of 16.29% per share over the upper limit of the issue price band. 

Note: GMP does not represent official data and is based on speculation.

The Oswal Pumps IPO is a book-building issue worth Rs 1,387.34 crore. The mainboard IPO comprises a fresh issue of 1.45 crore shares, worth Rs 890 crore, and an offer-of-sale of 81 lakh shares, amounting to Rs 497.34 crore.

The price band for the IPO is set between Rs 584 to Rs 614 per share.

Retail investors can invest in the IPO by bidding for at least 24 shares, requiring an investment of Rs 14,736. Small Non-Institutional Investors (sNII) need to bid for a minimum of 336 shares, amounting to an investment of Rs 2,06,304. Big NIIs (bNII) need to bid for a minimum of 1,632 shares, which amounts to an investment of Rs 10,02,048.

IIFL Capital Services Ltd., Axis Capital Ltd., CLSA India Private Ltd., JM Financial Ltd. and Nuvama Wealth Management Ltd. are the book-running lead managers of the Oswal Pumps IPO. MUFG Intime India Pvt. is the registrar for the issue.

Investors can bid for shares in the Oswal Pumps IPO from June 13 to June 17. Allotment of shares is expected to be finalised on June 18. Successful bidders are expected to receive shares in their Demat accounts on June 19. Refunds will be initiated for non-allottees on the same day.

Shares of Oswal Pumps are scheduled to be listed on NSE and BSE on June 20.

The company is known for manufacturing and distributing pumps. Its products are used in agriculture and industrial applications such as solar pumps. 

The company will use proceeds from the IPO to fund capital expenditure, repay borrowings and general corporate purposes. 

The company reported a 185.6% year-on-year (YoY) rise in profit after tax (PAT) to Rs 97.67 crore in FY24 from Rs 34.2 crore in FY23. Revenue from operations increased 97% YoY to Rs 758.6 crore in FY24 from Rs 385.04 crore in FY23.

For the nine-month period ended Dec. 31, 2024, the company’s net profit stood at Rs 216.71 crore on revenue of Rs 1,067.34 crore.