Oswal Pumps Limited, a leading pump and motor manufacturer, is all set to launch its initial public offering (IPO) worth ₹1,387.34 crores. The IPO will be open for subscription from June 13 to June 17, 2025, and consists of a fresh issue of 1.45 crore shares amounting to ₹890 crores, along with an offer for sale of 0.81 crore shares valued at ₹497.34 crores. This offering gives investors the chance to participate in the company's expansion journey across domestic and international markets.
The IPO is priced within a band of ₹584 to ₹614 per share, with a minimum lot size of 24 shares—requiring a retail investment of ₹14,016. The share allotment is scheduled for June 18, 2025, followed by the listing on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on June 20, 2025. For investors looking to explore opportunities in the industrial manufacturing sector, this IPO provides an accessible and strategic entry point into a company poised for future growth.
Oswal Pumps Limited IPO is a fundraise worth ₹1,387.34 crores comprising fresh issue of 1.45 crore shares and offer for sale of 0.81 crore shares. The IPO will be available for subscription from June 13, 2025, to June 17, 2025, providing an opportunity for investors looking to gain a stake in the industrial manufacturing segment.
| Oswal Pumps IPO date | June 13, 2025 - June 17, 2025 |
| Price band | ₹584 to ₹614 per share |
| Face value | ₹1 per share |
| Lot size | 24 shares |
| Issue type | Book-built issue IPO |
| Fresh issue | 1,44,95,114 shares amounting to ₹890.00 crores |
| Offer for Sale (OFS) | 81,00,000 shares amounting to ₹497.34 crores |
| Total issue size | 2,25,95,114 shares amounting to ₹1,387.34 crores |
| Listing at | BSE, NSE |
| Share holding post issue | 11,39,77,414 shares |
| Share holding pre issue | 9,94,82,300 shares |
The Oswal Pumps Limited IPO opens for subscription on June 13, 2025, and closes on June 17, 2025, with allotment slated for June 18, 2025.
| IPO open date | June 13, 2025 (Friday) |
| IPO close date | June 17, 2025 (Tuesday) |
| Basis of allotment | June 18, 2025 (Wednesday) |
| Initiation of refunds | June 19, 2025 (Thursday) |
| Credit of shares to demat account | June 19, 2025 (Thursday) |
| Listing date on exchanges | June 20, 2025 (Friday) |
| Cut-off time for UPI mandate confirmation | 5 PM on June 17, 2025 (Tuesday) |
Oswal Pumps Limited, incorporated in 2003, is engaged in the manufacturing and distribution of a wide range of pump products used across domestic, agricultural, and industrial sectors. Its product portfolio includes solar, submersible, monoblock, pressure, and sewage pumps, along with electric motors, winding wires, cables, and electric panels. The company has been actively contributing to the government’s PM-KUSUM Scheme, having completed over 26,000 turnkey solar pumping system installations across multiple Indian states.
Headquartered in Karnal, Haryana, the company operates a large manufacturing facility and has steadily expanded its distribution network, growing from 473 distributors in 2022 to 636 in 2024. Oswal Pumps has also marked its international presence by exporting to 17 countries in the Asia-Pacific, Middle East, and North Africa regions during the last three financial years. As of March 2024, it employed a workforce of 164 people.
Oswal Pumps IPO plans to use the funds raised for five key purposes: funding the company's capital expenditure needs, investing in their wholly-owned subsidiary Oswal Solar to establish new manufacturing units in Karnal, Haryana, repaying the company's existing borrowings, helping Oswal Solar repay its outstanding loans, and supporting general corporate activities. The investments in Oswal Solar will be made through debt or equity instruments to strengthen the subsidiary's operations and financial position.
The Oswal Pumps Limited IPO’s key performance indicators, as on March 31, 2024, reflect the company's financial health, with a Return on Capital Employed (RoCE) of 81.85%, and Debt-to-Equity ratio of 0.42.
The Return on Net Worth (RoNW) stands at 88.73%, while the Price-to-Book Value (P/BV) is seen at 38.14. The PAT Margin is 12.83 A comparison of earnings per share (EPS) reveals a pre-IPO EPS of ₹9.82 while it is ₹25.35 post-IPO.
| Period Ended | December 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Revenue | 1,067.34 | 761.23 | 387.47 | 361.11 |
| Assets | 1,096.01 | 511.28 | 252.30 | 221.84 |
| Net Worth | 378.80 | 160.17 | 59.97 | 24.57 |
| Profit After Tax | 216.71 | 97.67 | 34.20 | 16.93 |
| Total Borrowing | 346.30 | 75.42 | 59.28 | 87.54 |
Amount in ₹ crores
Oswal Pumps holds a commanding position as one of the largest suppliers of solar-powered agricultural pumps under the PM Kusum Scheme, benefiting from strong industry demand and government support for renewable energy initiatives. The company has built a comprehensive product portfolio under the Oswal brand, offering solar-powered and grid-connected submersible pumps, monoblock pumps, electric motors, and solar modules. This diversified range, combined with vertical integration in manufacturing and a skilled 15-member engineering and design team, enables continuous product improvement and cost optimization.
The company's competitive advantage lies in its extensive distribution network of 636 distributors across India, providing strong market reach and customer access. Oswal has established a solid footprint in key agricultural states, particularly Haryana, while actively expanding into other growing markets. The company's focus on engineering excellence and design innovation, coupled with its ability to offer comprehensive solutions across multiple product specifications, positions it well to capitalize on the robust momentum in the solar pump industry.
Oswal Pumps faces significant dependency risks, with its business heavily reliant on government schemes, particularly the PM Kusum initiative, for turnkey solar pumping system sales. There's no guarantee of scheme continuity or future contract wins, making the company vulnerable to policy changes or reduced government funding. Additionally, the business is entirely dependent on the agricultural sector for demand, exposing it to risks from weak monsoons, changes in government farmer incentives, or declining farmer incomes that could substantially impact product demand and profitability.
The company's revenue concentration presents another major vulnerability, with substantial portions coming from specific states like Haryana, Maharashtra, Uttar Pradesh, and Rajasthan, as well as heavy reliance on its top 10 customers. This geographic and customer concentration creates significant risk exposure - any adverse developments in these key markets or loss of major customers could severely impact operations, cash flows, and financial performance. The combination of government scheme dependency, agricultural sector reliance, and customer concentration makes Oswal's business model particularly susceptible to external factors beyond its control.
The Oswal Pumps Limited IPO offers an exciting opportunity for investors to enter the industrial manufacturing segment at its early public stage. While the prospect of early investment is compelling, prudent financial decision-making requires careful evaluation of the company's fundamentals, market positioning, and growth potential. Prospective investors should conduct thorough research to ensure this opportunity aligns with their personal financial objectives and risk tolerance, transforming a promising investment prospect into a strategic financial decision.
What is the Oswal Pumps IPO?
The Oswal Pumps Limited IPO is a main-board offering consisting of a fresh issue of 1.45 crore equity shares and an offer for sale of 0.81 crore shares with a face value of ₹1 per share, aiming to raise a total of ₹1,387.34 crores. The share price is set between ₹584 and ₹614, with a minimum order quantity of 24 shares. This IPO will be open for subscription from June 13, 2025, to June 17, 2025. MUFG Intime India Private Limited (Link Intime) is the registrar while IIFL Capital Services Limited, Axis Capital Limited, CLSA India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited are the book-running lead managers.
When will the Oswal Pumps IPO open?
The Oswal Pumps Limited IPO will open for subscription on June 13, 2025, and will close on June 17, 2025.
When is the Oswal Pumps IPO listing date?
The tentative listing date for the Oswal Pumps Limited IPO is Friday, June 20, 2025.
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