Oswal Pumps IPO - Day 3 Subscription at 28.44 Times

resr 5paisa Capital Ltd

Last Updated: 17th June 2025 - 06:33 pm

4 min read

Oswal Pumps' initial public offering (IPO) has demonstrated exceptional investor demand through its three-day subscription period, with Oswal Pumps' stock price band set at ₹584 to ₹614 per share and Oswal Pumps' share price expected to reflect outstanding market reception. The ₹1,387.34 crore IPO has witnessed remarkable progress, with subscription rates opening at 0.42 times on day one, improving to 1.65 times on day two, and reaching exceptional 28.44 times by 5:04:35 PM on the final day, demonstrating tremendous investor interest in this manufacturer and distributor of pumps that 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, operates manufacturing facility in Karnal, Haryana covering 41,076 square meters, and has executed orders for 26,270 turnkey solar pumping systems directly under the PM-KUSUM Scheme for several states including Haryana, Rajasthan, Uttar Pradesh, and Maharashtra as of August 2024.

Oswal Pumps IPO subscription reached an exceptional 28.44 times on the final day, led by QIB (64.62x), NII (37.90x), and Retail (3.72x). Total applications reached 12,77,297.

Subscription Status of Oswal Pumps IPO:

Date QIB NII  Retail Total
Day 1 (June 13) 0.08 0.79 0.45 0.42
Day 2 (June 16) 0.27 4.65 1.16 1.65
Day 3 (June 17) 64.62 37.90 3.72 28.44

Here are the subscription details for Oswal Pumps IPO as of Day 3 (June 17, 2025, 5:04:35 PM):

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB 64.62 45,19,024 29,20,13,328 17,929.618
NII (HNI) 37.90 33,89,267 12,84,65,232 7,887.765
bNII (bids above ₹10L) 44.50 22,59,511 10,05,38,712 6,173.077
sNII (bids below ₹10L) 23.11 11,29,756 2,61,09,096 1,603.098
Retail 3.72 79,08,290 2,93,90,280 1,804.563
Total** 28.44 1,58,16,581 44,98,68,840 27,621.947

Key Highlights - Day 3:

  • Overall subscription reaching an exceptional 28.44 times, a massive surge from day two's 1.65 times
  • QIB segment leading with outstanding demand at 64.62 times, an extraordinary jump from day two's 0.27 times
  • NII segment showing exceptional participation at 37.90 times, a remarkable increase from day two's 4.65 times
  • bNII showing phenomenal interest at 44.50 times and sNII at 23.11 times, both categories highly oversubscribed
  • Retail segment demonstrating solid interest at 3.72 times, good improvement from day two's 1.16 times
  • Total applications reached 12,77,297, indicating massive investor participation
  • The cumulative bid amount reached ₹27,621.947 crores against the issue size of ₹1,387.34 crores
  • Final day demonstrating exceptional confidence in the pumps manufacturing sector
  • QIB category driving exceptional subscription improvement with institutional investor confidence
  • All investor categories are showing strong oversubscription, reflecting robust market reception

Oswal Pumps IPO - Day 2 Subscription at 1.65 Times

Key Highlights - Day 2:

  • Overall subscription improving to 1.65 times, showing steady progress from day one's 0.42 times
  • NII segment leading with solid demand at 4.65 times, a substantial improvement from day one's 0.79 times
  • bNII showing strong interest at 5.00 times and sNII at 3.76 times, both categories now oversubscribed
  • Retail segment showing moderate participation at 1.16 times, improvement from day one's 0.45 times
  • QIB segment showing gradual interest at 0.27 times, improvement from day one's 0.08 times
  • The second day demonstrated growing confidence in the pumps manufacturing sector

Oswal Pumps IPO - Day 1 Subscription at 0.42 Times

Key Highlights - Day 1:

  • Overall subscription opening weak at 0.42 times, showing cautious initial investor interest
  • NII segment showing moderate early participation at 0.79 times, indicating measured high-net-worth investor confidence
  • Retail segment showing limited participation at 0.45 times, reflecting reserved individual investor sentiment
  • QIB segment showing minimal interest at 0.08 times initially
  • Opening day demonstrates mixed investor engagement across categories
  • Initial momentum reflecting a cautious assessment of the pumps manufacturing opportunity at the current valuation
  • Large issue size and premium pricing contribute to measured initial response
  • The first day of the foundation indicates a gradual confidence-building process

 

About Oswal Pumps IPO

Incorporated in 2003, Oswal Pumps Limited is a manufacturer and distributor of pumps offering 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 2024, the company had executed orders for 26,270 turnkey solar pumping systems directly under the PM-KUSUM Scheme for several states, including Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.

The company operates a manufacturing facility located in Karnal, Haryana, which covers a total land area of 41,076 square meters as of March 2024, has a growing network of distributors across India, increasing from 473 distributors as of March 2022 to 636 distributors as of March 2024, and between April 2021 and March 2024, exported its products to 17 countries across the Asia-Pacific, Middle East, and North Africa regions. 

Financial performance shows exceptional growth with revenue of ₹761.23 crores in FY2024 and profit after tax of ₹97.67 crores. For the nine months ended December 2024, the company reported remarkable revenue growth to ₹1,067.34 crores with PAT surging to ₹216.71 crores. The company maintains outstanding profitability metrics with 81.85% ROCE, 88.73% RONW, and operates with a debt-to-equity ratio of 0.42 and a market capitalisation of ₹6,998.21 crores. Investors tracking Oswal Pumps' stock price movements should consider these excellent financial metrics, while Oswal Pumps' share price appreciation potential remains strong given the company's leadership position in the solar pumps segment and planned expansion through IPO proceeds for new manufacturing units and debt reduction.

 

Highlights of the Oswal Pumps IPO:

  • IPO type: Book Building IPO
  • IPO size: ₹1,387.34 crores
  • Fresh Issue: 1.45 crore shares (₹890.00 crores)
  • Offer for Sale: 0.81 crore shares (₹497.34 crores)
  • Face value: ₹1 per share
  • Issue price band: ₹584 to ₹614 per share
  • Lot size: 24 shares
  • Minimum investment for retail investors: ₹14,736 (1 lot, 24 shares)
  • Minimum investment for sNII: ₹2,06,304 (14 lots, 336 shares)
  • Minimum investment for bNII: ₹10,02,048 (68 lots, 1,632 shares)
  • Book-running lead managers: IIFL Capital Services Limited, Axis Capital Limited, Clsa India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited
  • Registrar: MUFG Intime India Private Limited (Link Intime)
  • Listing at: BSE, NSE
  • IPO opens: June 13, 2025
  • IPO closes: June 17, 2025
  • Allotment date: June 18, 2025
  • Listing date: June 20, 2025

 

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