✅Get complete details about the Oswal Pumps IPO including IPO dates, price band, lot size, issue size, company background, GMP and allotment status updates.
📊 IPO Details
| IPO Type | Main Board |
|---|---|
| IPO Method | Book Building |
| IPO Open Date | 13 June 2025 (Friday) |
| IPO Close Date | 17 June 2025 (Tuesday) |
| IPO Listing Date | 20 June 2025 (Friday) |
| Price Band | ₹584 to ₹614 per share |
| Lot Size | 24 Shares |
| Face Value | 1 |
| Issue Size | ₹1387.34 Crores (approx.) |
| Fresh Issue | ₹890.00 Crores (approx.) |
| Offer for Sale (OFS) | ₹497.34 Crores (approx.)(At ₹614) |
| Listing Exchange | BSE, NSE (NSE is the designated stock exchange) |
🔔 IPO Timeline
⏳ IPO Subscription Status (Day-wise)
| Day | QIB | NII | RII | Employees | Total |
|---|---|---|---|---|---|
| Day 1 | x | x | x | x | x |
| Day 2 | .27x | 4.50x | 1.12x | x | 1.61x |
| Day 3 | x | x | x | x | x |
📋 Oswal Pumps IPO reservation table
| Investor Category | Shares Offered | Shares Bid For | Times Subscribed |
|---|---|---|---|
| Anchor Investors | 67,78,533 | 67,78,533 | 1x |
| Qualified Institutional Buyers (QIB) (Other than Anchor) | 45,43,116 | 12,21,024 | .27x |
| Non-Institutional Investors (NII) | 35,00,959 | 1,57,64,280 | 4.50x |
| Retail Individual Investors (RII) | 81,68,905 | 91,74,624 | 1.12x |
📦 Oswal Pumps IPO Lot Size
Table is Prepared at the upper end of the price band (₹614).
| Application | Lot Size | No. of Shares | Amount |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) |
👤👥 Promoter Shareholding Table (Pre & Post Issue)
| Shareholder | Pre-Issue Holding (%) | Post-Issue Holding (%) |
|---|---|---|
| Promoters | 99.88% | 80.08% |
| Others (Public / Investors) | .12% | 19.92% |
| Total | 100% | 100% |
🏢 Company Overview
Oswal Pumps Limited is one of India’s fastest-growing vertically integrated solar pump manufacturers, achieving a CAGR of 45.07% in revenue from FY22 to FY24. The company manufactures a wide range of products including solar-powered and grid-connected submersible and monoblock pumps, induction and submersible motors, and solar modules, all sold under the ‘Oswal’ brand.
Founded in 2003 with initial operations in low-speed monoblock pump manufacturing, Oswal Pumps has since significantly expanded its capabilities. The company operates two manufacturing facilities in Karnal, Haryana—one for pumps and motors and the other for solar modules.
Over its 22+ years in the industry, Oswal has catered to a diverse set of users across the agricultural, residential, commercial, and industrial sectors. In 2019, Oswal began manufacturing solar agricultural pumps in response to the Indian government’s PM Kusum Scheme, and it now supplies pumps to leading EPC vendors including Tata Power Solar Systems Limited.
In addition to product manufacturing, Oswal provides end-to-end EPC services, including installation and commissioning of solar pump systems. It is also recognized for its strong integration across the value chain, with in-house facilities for manufacturing key components like winding wires, cables, castings, and solar structures. This vertical integration gives the company greater control over quality, cost, and delivery timelines, making it a comprehensive solution provider in the solar pump sector
🎯 Objects of the Offer
- Funding capital expenditure.
- Investment in subsidiary (Oswal Solar) for setting up of new manufacturing units at Karnal, Haryana.
- Re-payment of borrowings.
- General corporate purposes.
₹ Financial Snapshot (As of and For the Fiscal Ended on)
| Particulars | 31-Dec-2024 | 31-Mar-2024 | 31-Mar-2023 | 31-Mar-2022 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 1065.67 | 758.57 | 385.04 | 360.38 |
| Profit After Tax (₹ Cr) | 216.71 | 97.67 | 34.20 | 16.93 |
| Profit After Tax Margin (%) | 20.30% | 12.83% | 8.83% | 4.69% |
| Earnings per share (in ₹) | 21.78 | 9.82 | 3.44 | 1.70 |
| Total Assets (₹ Cr) | 1,096.01 | 511.28 | 252.30 | 221.84 |
| Total Borrowings (₹ Cr) | 346.30 | 75.42 | 59.28 | 87.54 |
| Net Worth (₹ Cr) | 378.80 | 160.17 | 59.97 | 24.57 |
| NAV per equity share (in ₹) | 38.06 | 16.10 | 6.03 | 2.47 |
📈 Key Performance Indicators
| Particulars | 31-Dec-2024 | FY2023-24 | FY2022-23 | FY2021-22 |
|---|---|---|---|---|
| EBITDA (₹ Cr) | 321.01 | 150.12 | 57.82 | 38.52 |
| EBITDA Margin (%) | 30.12% | 19.79% | 15.02% | 10.69% |
| Return on Net Worth (%) | 80.42% | 88.73% | 80.91% | 58.88% |
| Return on Capital Employed (RoCE %) | 65.96% | 81.85% | 45.47% | 27.01% |
⚔️ Comparison with Listed Competitors
| Company Name | Face Value (₹) | Closing Price (₹) as on May 23, 2025 | Revenue from Operations (FY23-24, ₹ Cr) | EPS (₹) | NAV (₹) | P/E Ratio | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Oswal Pumps Limited | 1.00 | NA | 758.57 | 9.82 | 16.10 | NA | 88.73% |
| Kirloskar Brothers Limited | 2.00 | 1,838.75 | 4001.20 | 43.84 | 216.47 | 41.94 | 22.30% |
| Shakti Pumps (India) Limited | 10.00 | 855.30 | 1370.74 | 12.82 | 68.36 | 66.72 | 24.15% |
| WPIL Limited | 1.00 | 483.95 | 1664.40 | 17.72 | 127.56 | 27.31 | 18.78% |
| KSB Limited | 2.00 | 801.10 | 2247.24 | 11.99 | 74.81 | 66.79 | 17.07% |
| Roto Pumps Limited | 1.00 | 264.05 | 274.50 | 6.28 | 31.03 | 42.08 | 21.95% |
*EPS figures are as per respective company financials. P/E is based on closing prices as on May 23, 2025.Data is based on the latest available financials and may differ from actual market movements. Revenue is For the Financial Year 2023-2024.
🔍 Strengths & Risks
💪 Key Strengths
- Market Leadership in Solar Pumps: Oswal Pumps is one of the largest suppliers of solar-powered agricultural pumps under the PM Kusum Scheme, showing strong industry relevance and policy alignment.
- Vertically Integrated Manufacturing: The company’s integrated production—from casting and motor winding to solar module assembly—provides better cost control, supply chain efficiency, and product quality consistency.
- Diverse Product Portfolio: Offers a wide range of solar and grid-connected submersible/monoblock pumps, electric motors, and solar modules under the ‘Oswal’ brand, catering to varied applications.
- Strong Distribution Network: Grown from 473 distributors in FY22 to 925 by Dec 2024, with increasing presence across key Indian states and exports to 22 countries including Australia, UAE, and Italy.
- Government Partnerships & Certifications: Engaged in major government solar pump schemes and backed by certifications like IEC, CE Marking, and “One Star Export House” recognition.
- Experienced Management: Backed by promoters with industry expertise and a senior leadership team experienced in engineering, sales, and EPC services.
⚠️ Key Risks
- Volatile Raw Material Costs: Prices of key materials like copper, stainless steel, and photovoltaic cells are subject to global fluctuations, which may impact margins.
- High Working Capital Requirement: Large upfront investment for government supply contracts makes the company dependent on timely subsidy payments under PM-KUSUM.
- Lower Adoption of Solar Pumps: High upfront installation costs deter faster market adoption compared to grid-powered alternatives.
- Competitive Pressure: Faces stiff competition from both domestic and global brands like Kirloskar, WPIL, and Shakti Pumps, who may have superior financial or technological capabilities.
- Workforce & Operational Risks: Skilled manpower is critical for production quality. Any shortage may affect operational efficiency.
🧾 Oswal Pumps GMP Today (Grey Market Premium)
The Grey Market Premium (GMP) of the Oswal Pumps IPO indicates how the IPO might perform on listing day based on informal trading before the listing. GMP reflects investor sentiment in the unofficial market before shares are officially listed.
Note: Current GMP data for Oswal Pumps IPO is not available at the moment. Please check back later for updates.
📞 Key Contacts for Oswal Pumps IPO
| 🏢 Company Contact Anish Kumar (Company Secretary & Compliance Officer) 📍 Oswal Pumps Limited Oswal Estate, NH-1, Kutail Road, P. O. Kutail, District Karnal, Haryana 132037, India 📞 +91 18 4350 0307 📧 investorrelations@oswalpumps.com 🌐 www.oswalpumps.com | 🧾 Registrar to the Issue MUFG Intime India Private Limited 📍 C-101, 1st Floor, 247 Agrasen Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400083, Maharashtra, India 📞 +91 810 811 4949 📧 oswalpumps.ipo@linkintime.co.in(Investor Grievances) 🌐 www.kfintech.com |
📘 Book Running Lead Managers (BRLMs)
| BRLM Full Name |
|---|
| IIFL Capital Services Limited, Axis Capital Limited, CLSA India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited |
For full contact details including representatives, emails, and phone numbers, of BRLM’s please refer to the Red Herring Prospectus (RHP).
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