Oswal Pumps IPO: Latest GMP Indicates Over 13% Listing Gain Ahead Of Issue Opening On Friday
The price band for the IPO has been set between Rs 584 to Rs 614 per share.
The initial public offering (IPO) of Oswal Pumps Ltd. is scheduled to open for subscription tomorrow. The company is a manufacturer and distributor of pumps.
According to InvestorGain, the GMP for the Oswal Pumps IPO stood at Rs 83 apiece as of 11:32 a.m. on June 12. The latest GMP indicates shares of Oswal Pumps are expected to be listed at Rs 702 apiece at a gain of 13.52% compared to the upper end of the IPO price band.
Note: GMP does not represent official data and is based on speculation.
Investors can bid for shares in the Oswal Pumps IPO from June 13 to June 17. Allotment of shares is proposed to be finalised on June 18. Successful bidders are expected to receive shares in their Demat accounts on June 19. Refunds will also be initiated for non-allottees on the same day.
Oswal Pumps IPO listing date has been tentatively fixed as June 20. Shares of Oswal Pumps will be listed on both the NSE and BSE.
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Oswal Pumps IPO: Key Details
The Oswal Pumps IPO is a bookbuilding 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 (OFS) portion of 81 lakh shares, amounting to Rs 497.34 crore.
The price band for the IPO has been set between Rs 584 to Rs 614 per share.
Retail investors can invest in the IPO by bidding for a single lot size of 24 shares, requiring an investment of Rs 14,736. Small Non-Institutional Investors (sNII) need to bid for 14 lots comprising a total 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 or 68 lots, which aggregate to an investment of Rs 10,02,048.
The company has reserved 35% of the net issue size for retail investors and 15% for NIIs. A maximum of 50% of the net offer size will be allotted to Qualified Institutional Buyers (QIBs).
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.
Oswal Pumps IPO Business And Financials
The company is known for manufacturing and distributing pumps. Its products are used in agriculture and industrial applications such as solar pumps.
Use Of Proceeds
Oswal Pumps Ltd. has proposed to utilise proceeds from the IPO to fund capital expenditure, repay borrowings and general corporate purposes.
Financials
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, PAT stood at Rs 216.71 crore. The company’s revenue stood at Rs 1,067.34 crore during the period under review.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
