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Oswal Pumps IPO: GMP rises to 14% ahead of issue opening on WednesdayOswal Pumps has fixed a price band of ₹584 - ₹614 per share for its initial share sale, which will open for public subscription on June 13 and conclude on June 17.By Meghna Sen   June 12, 2025, 9:04:23 AM IST (Updated)2 Min ReadThe grey market premium (GMP) of integrated solar pump manufacturer Oswal Pumps rose over 14% on Thursday, June 12, a day ahead of the ₹890 crore issue opening. The one-day bidding for anchor investors will open later today.

The shares of Oswal Pumps are commanding a premium of 14.33%. Investorgain quoted a GMP of ₹88 over the offer price of the company on June 12. A day earlier, the shares were commanding a GMP of ₹67 in the unregulated market.

The company has fixed a price band of ₹584 - ₹614 per share for its initial share sale, which will open for public subscription on June 13 and conclude on June 17. The investors can bid for a minimum of 24 shares and in multiples of 24 shares thereafter.

The issue comprises of fresh issue of ₹890 crore and an offer for sale of 0.81 crore shares one of the promoters Vivek Gupta who currently holds a 25.17% stake in the company.

From the proceeds, ₹89.86 crore will be allocated for capital expenditure, ₹273 crore will be invested in subsidiary Oswal Solar to set up a new manufacturing facility in Haryana, ₹280 crore will go towards debt repayment, and ₹31 crore will be used to repay debt in Oswal Solar.

Incorporated in 2003, Oswal Pumps offers a diverse range of products catering to domestic, agricultural, and industrial applications, including solar pumps, submersible pumps, monoblock pumps, pressure pumps, sewage pumps, electric motors, submersible winding wires & cables, and electric panels.

As of August 31, 2024, the company had executed orders for 26,270 turnkey solar pumping systems directly under the PM-KUSUM Scheme for states like Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.

The company posted a revenue of ₹758.57 crore in FY24, up from ₹385.04 crore in the previous year. Net profit rose to ₹97.67 crore from ₹34.20 crore.

For the nine months ended December 2024, the company reported a revenue of ₹1,065.67 crore and a net profit of ₹216.71 crore.

IIFL Capital Services, Axis Capital, CLSA India, JM Financial, Nuvama Wealth Management are the book running lead managers, while MUFG Intime India (Link Intime) is the registrar for the issue.

The allotment for the Oswal Pumps IPO is expected to be finalised on June 18, while the company will be listing on BSE, NSE with a tentative listing date fixed as June 20.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.First Published: Jun 12, 2025 9:03 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIPO