Oswal Pumps IPO Day 3: Strong Final Day Subscription; Rs. 57 GMP Indicates Healthy Listing Premium

Oswal Pumps IPO will close with strong investor interest across all categories on Tuesday, June 17. On the third and final day of bidding, the Rs. 1,387.34 crore mainboard issue was oversubscribed 5.99 times in total with high demand among investors.

According to data updated at 11 AM on the Investor Gains website, the Qualified Institutional Buyers, or QIBs, portion was subscribed to 4.1 times, while the Non-Institutional Investors, or NIIs, segment saw 17.58 times bidding. Retail individual investors had a subscription rate of 2 times. While the overall subscription was 5.99 times.

Oswal Pumps IPO Grey Market Premium

Oswal Pumps IPO GMP, which stood at Rs.57 per share as of Tuesday morning, according to IPO tracker InvestorGain. At the upper price band of Rs Rs.614 with an estimated listing price of Rs 671 with a potential gain of 9.28% on debut.

Investors are optimistic about the Oswal Pumps IPO listing on the NSE and BSE, which is scheduled for Friday, June 20.

Oswal Pumps IPO Details

The Oswal Pumps IPO price band was set in the range of Rs. 584 to Rs. 614 per share. Investors were required to apply for a minimum lot size of 24 shares, which translated to an investment of ₹14,016 at the lower band and around ₹14,736 at the upper cut-off price.

The Oswal Pumps IPO allotment date is expected to be finalised by Wednesday, June 18, with the company likely to be listed on Indian stock exchanges. Since the IPO was fully subscribed with a positive grey market sentiment, Oswal Pumps shares are likely to debut with good listing gains.

Several top domestic and global institutional investors participated as anchor investors in the Oswal Pumps IPO. The list includes ICICI Prudential Mutual Fund, Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant Mutual Fund, Societe Generale, Amundi, BNP Paribas, Capital Group, and Edelweiss Life Insurance.

It Is Worth Subscribing? What Experts Say

A majority of broking houses have shown confidence in the Oswal Pumps IPO, with reputed firms such as Aditya Birla Money, BP Equities, GEPL Capital, KR Choksey, Marwadi Shares, and Ventura Securities issuing an 'Apply' rating, citing the company's strong positioning in the solar pump segment and long-term growth potential under schemes like PM-KUSUM.

Others, including Anand Rathi, Arihant Capital, and Dilip Davda, have adopted a more cautious stance with a 'May Apply' recommendation.

Firms like Canara Bank Securities and Capital Market have remained 'neutral', with a wait-and-watch approach.

About Oswal Pumps Ltd IPO

Established in 2003, Oswal Pumps Ltd is a manufacturer of solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. The company has a presence under the Government of India's PM-KUSUM scheme. As of December 2024, Oswal Pumps has directly or indirectly contributed to nearly 38% of all solar agricultural pump installations nationwide. It has executed over 26,270 turnkey solar pumping system projects across major states such as Haryana, Rajasthan, Uttar Pradesh, and Maharashtra as per company data.

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