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Oswal Pumps IPO Opens Today: Check Latest GMP & Subscription Status

As of 11:55 AM, the company has received bids for 23,45,184 shares against 1,62,12,980 shares on offer

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Oswal Pumps' initial public offering (IPO) witnessed decent investor interest during the first day of the bidding period. The vertically integrated solar pump manufacturer is raising ₹1,387.34 crore via the public offering. The issue comprises a fresh issue of 1.45 crore shares worth ₹890 crore and an offer for sale (OFS) of 0.81 crore shares totaling ₹497.34 crore.

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The bidding window for the public offering will conclude on June 17, 2025 (Tuesday). The tentative date of listing is fixed for June 20, 2025 (Friday). The price band was set at ₹584 to ₹614 per equity share.

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

Oswal Pumps IPO Subscription Status

As per data from the Bombay Stock Exchange (BSE), the Oswal Pumps IPO has been subscribed 14% so far on Day 1. The retail portion has been subscribed 20%, while the Non-Institutional Investors (NII) portion is also booked at 20%. However, the Qualified Institutional Buyers (QIB) portion is yet to see any bids.

As of 11:55 AM, the company has received bids for 23,45,184 shares against 1,62,12,980 shares on offer.

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Oswal Pumps IPO GMP

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

As of 12:00 pm, the shares of Oswal Pumps were trading at a decent GMP of ₹70, commanding a premium of over 11.40%, according to InvestorGain.

The company will be using the net proceeds for funding capex requirements and payment of some outstanding borrowings. The company is also planning to invest in its subsidiary firm, Oswal Solar, to set up a new manufacturing unit in Karnal, Haryana.  

Oswal Pumps' revenue figure for the previous fiscal year stood at ₹761.23 crore. For the nine months ended December 31, 2024, the company’s overall revenue was ₹1,067.34 crore, with a profit after tax (PAT) of ₹216.71 crore for the same period.

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