Oswal Pumps IPO - Should You Subscribe? Read Anand Rathi's Analysis

Oswal Pumps Ltd.'s Rs 1387.34 crore IPO comprises of fresh issue of Rs 890 crore and offer-for-sale of Rs 497.34 crore. Investors can place bids starting from a minimum of 24 shares and in multiples thereafter..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Anand Rathi Report.Oswal Pumps Ltd. launched its initial public offering today and the offer closes for subscription on June 17. The supplier of solar powered agricultural pumps has fixed the price band in the range of Rs 584 to Rs 614 per share. The Rs 1387.34 crore IPO comprises of fresh issue of Rs 890 crore and offer-for-sale of Rs 497.34 crore. Investors can place bids starting from a minimum of 24 shares and in multiples thereafter..Objects of the IssueFunding certain capital expenditure of the Company. Investment in wholly owned subsidiary for setting up Manufacturing units at karnal, Haryana. Repayment of borrowings. Investment in wholly owned subsidiary for repayment of borrowingsGeneral corporate purposes..Valuation Oswal Pumps is One of the largest supplier of solar powered agricultural pumps under the PM Kusum Scheme, well positioned to capitalise on strong industry tailwinds with Vertically integrated manufacturing competencies and Strong presence in major agricultural states in India including Haryana and growing presence in other states along with Extensive distribution network catering to a diversified customer base At the upper price band company is valuing at P/E of 24.2x, EV/Ebitda of 22.8x and market cap of Rs 6998 crore post issue of equity shares. We believe that the IPO is fairly priced and recommend a “Subscribe-Long term” rating to the IPO..Click on the attachment to read the full report:.Oswal Pumps IPO GMP Indicates Over 15% Listing Gains Ahead Of June 13 Launch; Check Details.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Oswal Pumps IPO - Should You Subscribe? Read Anand Rathi's Analysis

Oswal Pumps' Rs 1387.34 crore IPO opened today for subscription and the company has fixed the price band in the range of Rs 584 to Rs 614 per share.

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