The ₹1,387.34-crore initial public offering (IPO) was open for subscription from June 13 to June 17. The mainboard issue comprised a fresh issue of 1.45 crore shares, amounting to ₹890 crore, and an offer-for-sale (OFS) portion of ₹497.34 crore.
The IPO price band was set at ₹584–₹614 per share.
Shares of Oswal Pumps are scheduled to be listed on both the BSE and NSE on Friday, June 20.
The IPO witnessed an overwhelming demand across categories. The mainboard issue was oversubscribed more than 34 times on the last day of bidding on Tuesday.
Investor interest was strong across categories, with Qualified Institutional Buyers (QIBs) bidding 88 times their quota, Non-Institutional Investors (NIIs) nearly 37 times, and retail investors subscribing 3.6 times.
How to Check IPO Allotment Status
Investors can verify the share IPO allotment status through the websites of the NSE, BSE and the IPO registrar, MUFG Intime India Pvt Ltd. (formerly Link Intime India):
Steps to check allotment status via BSE
1. Go to the BSE IPO allotment page at https://www.bseindia.com/ static/investors/application_ statuschecksystem.aspx
2. Choose ‘Equity’ as the issue type.
3. Select ‘Oswal Pumps’ from the dropdown.
4. Enter your PAN or application number.
5. Click ‘Search’ to view your status.
Steps to check share allotment status via MUFG Intime India
1. Visit the IPO allotment page on MUFG Intime India: https://in.mpms.mufg.com/ Initial_Offer/public-issues. html
2. Select ‘Oswal Pumps’ from the dropdown list.
3. Enter your PAN, application number, or DP/Client ID.
4. Click ‘Submit’ to check the status.
The IPO bidders can also check the allotment status on the NSE website using PAN and the application number.
Allotted shares will be credited to successful applicants’ Demat accounts, and refunds will be issued to the non-allottees on June 19.
Oswal Pumps IPO Purpose
The ₹890 crore raised through the fresh issuance of shares will be utilised for several key purposes. Around ₹89.86 crore is earmarked for capital expenditure, while ₹273 crore will be invested in the company’s subsidiary, Oswal Solar, to set up a new manufacturing facility in Haryana.
Additionally, ₹280 crore will be used to repay outstanding debts and another ₹31 crore is allocated for debt repayment within Oswal Solar.
About the Company
Founded in 2003, Oswal Pumps manufactures a wide range of products for domestic, agricultural, and industrial needs, such as solar pumps, submersible and monoblock pumps, sewage pumps, electric motors, cables, and electric panels. As of August 31, 2024, the company had completed 26,270 turnkey solar pump installations under the PM-KUSUM scheme across several Indian states, including Haryana, Rajasthan, Uttar Pradesh and Maharashtra.
