Oswal Pumps IPO Subscribed 31% On Day 1: GMP at Rs. 62, Is It Worth Looking Forward To?

Oswal Pumps Limited, a leading pump and motor manufacturer, was subscribed 19 times by the end of the day as the IPO opened today for subscription on June 13. The Rs 1,387.34 crore public issue comprises a fresh issue of 1.45 crore equity shares worth Rs 890 crore and an offer-for-sale (OFS) of 0.81 crore shares aggregating to Rs 497.34 crore. The GMP gains on the first day of bidding were also substantial.

The Oswal Pumps IPO will remain open until June 17, with allotment finalisation expected on June 18 and the listing on both NSE and BSE on June 20. The IPO price band has been fixed between ₹584 and ₹614 per share, with a minimum lot size of 24 shares. For retail investors, the minimum investment is ₹14,016, while it is suggested to bid at the cutoff price, pushing the amount to ₹14,736 to avoid rejection in case of oversubscription.

Oswal Pumps IPO GMP Today

As of the latest update on June 13, 2025, at 7:57 PM, the grey market premium (GMP) for Oswal Pumps IPO stood at Rs. 62. The estimated listing price for the Oswal Pumps IPO is Rs Rs.676, indicating a listing gain of 10.10%.

Oswal Pumps IPO Subscription Status on Day 2

As of the second day of bidding, the Oswal Pumps IPO has seen a moderate response, with the overall subscription reaching 0.31 times. The Qualified Institutional Buyers (QIB) segment has been the slowest to pick up momentum, with just 0.08x subscription, while the Non-Institutional Investors (NII) segment recorded 0.34x. The Retail Individual Investors (RII) category showed better participation, subscribing at 0.41x, whereas the employee quota stood at 0.19x. Despite the lukewarm response so far, market experts anticipate a surge in demand on the final day, especially from institutional and retail investors.

Should You Subscribe to the Oswal Pumps IPO? Here's What Analysts Say

Leading broking firms have weighed in on the Oswal Pumps IPO, offering positive outlooks based on the company's fundamentals and valuation.

Arihant Capital Markets stated, "Oswal Pumps Ltd demonstrates solid fundamentals with a strong foothold in the solar agricultural pump segment, supported by consistent revenue growth and vertical integration. At the upper price band of ₹614, the IPO is valued at a price-to-earnings (P/E) ratio of 24.22x, based on the annualised EPS of ₹25.4 for 9MFY25. We assign a 'Subscribe for Long Term' rating to this issue."

Similarly, Nirmal Bang Securities noted, "At the upper price band of ₹614, based on the post-issue capital structure, the IPO is valued at a 9MFY25 annualised P/E of 24.2x and an EV/EBITDA multiple of 16.4x. This is at a discount compared to its closest listed peer, Shakti Pumps. We recommend a 'Subscribe' rating for the IPO.

About Oswal Pumps Limited

Oswal Pumps Ltd (OPL) are manufacturers of solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules. Incorporated in 2003, the company has emerged as a dominant player in the solar-powered agricultural pump segment, especially under the government's PM-KUSUM scheme. As of December 2024, OPL has directly or indirectly supplied nearly 38% of all solar agricultural pumps installed in the country and successfully executed 26,270 turnkey solar pumping system orders across key states like Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor GoodReturns. The author, nor the brokerage firm nor GoodReturns would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.