Oswal Pumps IPO to List Tomorrow: Here's the Latest GMP Update

Oswal Pumps' initial public offering (IPO) will make its D-street debut tomorrow, June 20, Friday. The public offering witnessed strong investor interest during the bidding window with the issue being oversubscribed more than 34 times on the last day of the subscription period.

The ₹1,387.34 crore IPO comprises a fresh issue worth ₹890 crore and an offer for sale (OFS) of ₹497 crore. The bidding period for the public offering started on June 13, 2025 (Friday) and closed on June 17, 2025 (Tuesday). The price band was set at ₹614 per share, with a minimum lot size of 24 shares.

IIFL Capital Services Ltd., Axis Capital Ltd., CLSA India Pvt. Ltd., JM Financial Ltd. and Nuvama Wealth Management Ltd. are the book-running lead managers of the IPO.

“Despite prevailing market volatility, the mainboard IPO of Oswal Pumps received a robust response from investors, with particularly strong interest from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs). The response reflects strong institutional confidence in the company’s fundamentals and long-term growth trajectory, even amid near-term market uncertainty," said Prashanth Tapse, senior VP (research), Mehta Equities Ltd.

The company will use the net proceeds to fund capital expenditure requirements and repay borrowings. The company will also use the funds to invest in its own subsidiary, Oswal Solar, to set up a new manufacturing unit at Karnal, Haryana.

Oswal Pumps IPO GMP

GMP or grey market premium indicates the price level at which the shares of the company trade in the unlisted market before hitting the official bourses.

At 5:20 pm (Thursday), the shares of Oswal Pumps were trading at GMP of ₹48, commanding a premium of 7.82% from its issue price of ₹614, as per InvestorsGain.

"For allotted investors, we advise a HOLD for the long term, as the company is well-positioned to benefit from structural growth drivers in the agri and infrastructure sectors," said Tapse.

As for non-allotted investors, analysts recommend accumulating on any dips (post-listing), especially if broader market sentiment results in short-term volatility. "The business offers a strong combination of sectoral tailwinds and value-based fundamentals,” Tapse added.

However, risks still linger. For instance, the Oswal Pump's business is highly dependent on the performance of the agriculture sector. This might bring-in a seasonal risk as any adverse changes in weather conditions might impact the company's operations.