Shares of Oswal Pumps are set to make their Dalal Street debut on Friday, June 20, 2025. The company is likely to deliver a mild listing pop for the investors if one goes by the grey market premium (GMP) for the issue. However, the premium in the unofficial market has taken a hit considering the volatile broader market sentiments.
The grey market premium (GMP) of Oswal Pumps has corrected sharply despite a strong bidding for the issue. Last heard, the company was commanding a premium of Rs 40-42 per share in the unofficial market, suggesting a listing pop of nearly 7 per cent for the investors. The GMP stood around Rs 60 before when the issue was close for the bidding.
Oswal Pumps ran its IPO from June 13 to June 17, offered shares within a price range of Rs 584 to Rs 614. Investors could purchase shares in lots of 24. The total issue size was Rs 1,387.84 crore, featuring both a fresh issue and an offer-for-sale component.
The IPO saw strong interest with a total subscription rate of 34.42 times. This included significant subscriptions from qualified institutional buyers (QIBs) at 88.08 times, non-institutional investors (NIIs) at 36.70 times, and retail investors at 3.60 times.
Oswal Pumps, established in 2003 and based in Karnal, is involved in the manufacturing and distribution of various pump types, including solar and submersible pumps, and electric motors. The company caters to a broad market with applications in domestic, agricultural, and industrial sectors.
IIFL Capital Services, Axis Capital, CLSA India, JM Financial, Nuvama Wealth Management were the book running lead managers of the Oswal Pumps IPO, while MUFG Intime India (Link Intime) served as the registrar for the issue. Shares of the company shall be listed at both BSE and NSE.
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