Oswal Pumps IPO GMP Today: Will It Soar on Listing Day?

June 17, 2025: The highly anticipated Initial Public Offering (IPO) of Oswal Pumps Ltd closes today, June 17, after receiving a strong response from investors across all categories. Backed by solid anchor investor participation and increasing interest from retail and non-institutional investors (NIIs), the IPO appears poised for a successful listing on June 20 on both BSE and NSE.

IPO Subscription Status

As of the third and final day of bidding, the IPO has been subscribed 1.99 times, with the retail portion booked at 1.24 times, and the NII portion seeing overwhelming demand at 5.97 times. The Qualified Institutional Buyers (QIBs) category has seen 28% subscription so far.

The company received 3.23 crore bids against 1.62 crore shares on offer by 10:09 AM IST, per BSE data.

Key IPO Details

• IPO Price Band: ₹584 – ₹614 per share
• Lot Size: 24 shares (and multiples thereof)
• Total Issue Size: ₹1,387 crore
  • Fresh Issue: ₹890 crore
  • Offer for Sale: 8.1 million shares by promoter Vivek Gupta
• Listing Date: June 20, 2025
• Lead Managers: IIFL Capital, Axis Capital, CLSA India, JM Financial, Nuvama Wealth

Use of Proceeds

Funds from the IPO will be allocated towards:

• ₹89.86 crore for capital expenditure
• ₹273 crore for Oswal Solar’s new manufacturing facility in Haryana
• ₹280 crore for debt repayment
• ₹31 crore to clear Oswal Solar’s existing debt

Anchor Investors

The company raised ₹416.2 crore from marquee investors like ICICI Prudential MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant MF, Amundi, BNP Paribas, Societe Generale, and Capital Group, showing strong institutional confidence.

Oswal Pumps: Company Snapshot

Oswal Pumps Ltd is a leading manufacturer of solar-powered submersible and monoblock pumps, electric motors, and solar panels under the “Oswal” brand. It has a significant market share in agricultural states like Haryana and is expanding nationwide. The firm is also a major supplier under the PM Kusum Scheme.

GMP and Listing Expectations

As per grey market trends, Oswal Pumps IPO GMP stands at ₹56, hinting at a potential listing price of ₹670, about 9.1% premium over the issue price. Market observers note that GMP has been trending upward, suggesting strong listing day gains.

Brokerage Verdict

Brokerages like KR Choksey Securities and Master Capital Services have rated the IPO as “Subscribe” for long-term investors, citing the company’s strong fundamentals, robust product portfolio, and growth potential in the renewable energy sector. The IPO is valued at 17.1x FY25 EV/EBITDA, considered attractive given its industry position and expansion plans.