Oswal Pumps' IPO will open for subscription on June 13, and close on June 17. Oswal Pumps is an integrated solar pump manufacturer and the price brand for the IPO is yet to be announced.
The issue comprises of fresh issue of Rs 890 crore and an offer for sale of 0.81 crore shares one of the promoters Vivek Gupta who currently holds a 25.17% stake in the company.
Rs 273 crore will be invested in subsidiary Oswal Solar to set up a new manufacturing facility in Haryana, Rs 89.86 crore for capital expenditure will be allocated by the company from the proceeds, Rs 280 crore will go to debt repayment and Rs 31 crore will be used to repay debt in Oswal Solar.
The company executed orders for 26,270 turnkey solar pumping systems directly under the PM-KUSUM Scheme on August 31, 2024. The scheme is for states like Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.
In FY24, the company posted a revenue of Rs 758.57 crore, up from Rs 385.04 crore in the previous year. Net profit rose to Rs 97.67 crore from Rs 34.20 crore. A net profit of Rs 216.71 crore was reported by the company for the nine months ended December 2024. Also, revenue of Rs 1,065.67 crore was reported.
The book running lead managers are IIFL Capital Services, Axis Capital, CLSA India, JM Financial, Nuvama Wealth Management. MUFG Intime India (Link Intime) is the registrar for the issue.
June 18 is the IPO finalisation of Oswal Pumps. June 20 is another tentative listing date while the company lists on BSE,NSE.
Oswal Pumps includes submersible pumps, pressure pumps, sewage pumps, electric panels, submersible winding wires and cables, electric motors, solar pumps, monoblock pumps. It has a variety of products. It caters to domestic, agricultural, and industrial applications.
