The initial public offering (IPO) for Oswal Pumps Ltd commenced on Friday, June 13, and will conclude on Tuesday, June 17. On Thursday, the company secured ₹416.2 crore from anchor investors just a day prior to opening the share sale for public subscriptions.
The response to the Oswal Pumps IPO was moderate and consistent, with the retail investor segment being half subscribed, while Non-Institutional Investors (NIIs) saw a considerable response.
Among the anchor investors are ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant MF, Societe Generale, Edelweiss Life Insurance, BNP Paribas, the Parisian asset management firm Amundi, and the financial services company Capital Group, according to a circular posted on the BSE’s website.
Oswal Pumps IPO price band has been established between ₹584 and ₹614 per share for a total initial public offering amounting to ₹1,387 crore. Investors can submit bids for a minimum of 24 equity shares and in multiples of 24 shares thereafter. The basis of allotment of shares for the Oswal Pumps IPO is expected to be determined on Wednesday, June 18, with refunds starting on Thursday, June 19, and shares being credited to the demat accounts of allottees on the same day following the refunds. The shares of Oswal Pumps are anticipated to be listed on BSE and NSE on Friday, June 20.
The company specializes in manufacturing solar-powered and grid-connected submersible and monoblock pumps, as well as electric motors, including induction and submersible types, and solar modules, all marketed under the ‘Oswal’ brand. With over 22 years in the field, the company has gained extensive expertise in engineering, product design, manufacturing, and testing.
Oswal Pumps IPO Day 2 Live: Subscription Status
Oswal Pumps IPO subscription status is 42% as of close on day 1. The retail portion was subscribed 45%, and NII portion was booked 79%. Qualified Institutional Buyers (QIBs) portion received 8% bids.
The company has received bids for 67,83,552 shares against 1,62,12,980 shares on offer, according to data on BSE.
