IPO-Bound Oswal Pumps Targets Capacity Infusion By FY28
The company will offer a fresh issue of shares aggregating up to Rs 890 crore for the initial public offering.
Oswal Pumps Ltd. is looking to utilise proceeds from its initial public offering towards capital expenditure and capacity infusion, which it aims to see through by fiscal 2028, according to Chairperson and Managing Director Vivek Gupta.
Oswal Pumps, a water pump manufacturing company whose speciality and expertise lie in the production of solar pumps, is looking to raise Rs 1,387.3 crore through its maiden offer.
The company, whose IPO opens on Friday, will offer a fresh issue of shares aggregating up to Rs 890 crore, of which the company proposes to utilise Rs 370 crore towards capital expenditure. The offer also has an offer-for-sale component aggregating up to Rs 497.3 crore. The chairperson is offloading stake worth 81 lakh shares in the offering.
IIFL Capital Services Ltd., Axis Capital Ltd., CLSA India Pvt., JM Financial Ltd. and Nuvama Wealth Management Ltd. are book runners for the issue, while MUFG Intime India Pvt. is the IPO registrar.
Shares of the company are set to debut on both the National Stock Exchange and the BSE post the IPO. The company will see shares get allocated to anchor investors on Thursday, while the tentative date of listing of shares on the bourses is June 20.
About Oswal Pumps
As per their RHP, Oswal Pumps is the fastest growing vertically integrated solar pump manufacturers in India in terms of revenue growth during the last three fiscals. It manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors as well as solar modules,
The company caters to the requirements of end-users in the agricultural sector for irrigating fields; the residential sector for maintaining gardens and fountains, extracting water, supplying water to overhead tanks and cleaning households and more.
