Oswal Pumps IPO Day 2: Issue Subscribed 71% so far, Check Latest GMP

Oswal Pumps' initial public offering (IPO) saw moderate investor interest during the second day of the bidding period, as the issue was subscribed to over 70% on Monday. According to BSE data, the company has received bids for 1,15,67,328 shares against 1,62,12,980 shares on offer, resulting in an overall bid ratio of 0.71.

The Qualified Institutional Buyers (QIBs) segment saw a tepid response, with just 4,15,512 bids received against 45,43,116 shares on offer. On the other hand, the quota allotted for non-institutional investors (NII) saw strong demand, receiving bids for 54,26,160 shares against an offer of 35,00,959 shares.

IIFL Capital Services Ltd., Nuvama Wealth Management Ltd., Axis Capital Ltd., CLSA India Pvt. Ltd. and JM Financial Ltd. are the book-running lead managers of the Oswal Pumps IPO. The bidding window for the public offering started on June 13, 2025 (Friday) and closed on June 17, 2025 (Tuesday). The tentative listing date is fixed for June 20, 2025 (Friday). The mainboard IPO has set the price band in the range of ₹584 to ₹614 per equity share.

Oswal Pumps IPO GMP

GMP or grey market premium refers to the price at which the shares of the company trade in the grey market before getting listed on NSE and BSE.

At 11:51 am, the shares of Oswal Pumps were trading at a GMP of ₹57, commanding a premium of over 9.28%.

The company is raising ₹1,387.34 crore via the public offering, with the net proceeds earmarked for funding capital expenditure requirements. A portion of the funds will also be used to repay outstanding borrowings. Besides, the vertically integrated solar pump manufacturer is also planning to invest in its subsidiary firm, Oswal Solar, to build a new manufacturing facility in Karnal, Haryana.