Oswal Pumps Ltd

Oswal Pumps Ltd IPO

Oswal Pumps Ltd IPO Price Range is ₹584 - 614, with a minimum investment of ₹14,736 for 24 shares.

₹14,736

/ 24 shares

Minimum Investment

View Oswal Pumps Ltd IPO details including price range, minimum investment, lot size, financials, and IPO timeline. Get subscription updates, peer comparison, and key insights to help you make an informed decision.

IPO Status

Closed

Price Band

₹584 - 614

Open Date

2025-06-13

Close Date

2025-06-17

IPO Size

₹1,387.34 Cr

Lot Size

24 shares

Min Investment

₹14,736

Listing Exchange

NSE

Oswal Pumps Ltd IPO Application Timeline

passed
Open Date13 Jun 2025
passed
Close Date17 Jun 2025
passed
Allotment Date18 Jun 2025
passed
Listing Date20 Jun 2025

IPO Subscription Status

IPO subscribed over

🚀 34.42x

This IPO has been subscribed by 3.603x in the retail category and 88.076x in the QIB category.

Subscription Rate

Total Subscription34.42x
Retail Individual Investors3.603x
Qualified Institutional Buyers88.076x
Non Institutional Investors36.696x
NameOswal Pumps Ltdx

Objectives of IPO

1
Funding Certain Capital Expenditure: The company intends to utilize ₹89.86 crore from the net proceeds to procure certain new plant and machinery for automation and modernization, and/or replacement, which will expand our existing production capacity.
2
Investment in New Solar Plant: Investment in a subsidiary, Oswal Solar, to set up new manufacturing units in Karnal, Haryana, via utilizing a total of ₹272.75 crore from the net proceeds.
3
Repayment of Borrowings: The company plans to use ₹280 crore to pre-pay or repay some of our existing loans, to reduce debt, lower interest costs, and improve overall financial health.
4
Support to Subsidiary for Loan Repayment: It plans to invest ₹31 crore in our fully owned subsidiary, Oswal Solar. This money will help Oswal Solar repay part or all of its existing loans. The remaining amount will be utilized for other general corporate purposes.

Strengths and Risks

Strengths

Strengths

  • One of the largest supplier of solar powered agricultural pumps under the PM Kusum Scheme, well positioned to capitalise on strong industry tailwinds.

  • Vertically integrated manufacturing competencies.

  • Strong engineering and design capabilities.

  • Comprehensive product portfolio in multiple product specifications.

  • Strong presence in major agricultural states in India including Haryana and growing presence in other states.

  • Extensive distribution network catering to a diversified customer base.

  • Experienced Promoter and senior management team.


Risks

Risks

  • The company derives a signification portion of its revenues from the supply of Turnkey Solar Pumping Systems which are awarded on a tender basis by state and central Government institutions under the PM Kusum Scheme (Rs. 7,732.07 million, Rs. 3,274.15 million, nil and nil from the supply of the Turnkey Solar Pumping Systems directly under the PM Kusum Scheme in the nine months ended December 31, 2024 and Fiscals 2024, 2023 and 2022, respectively, representing 78.50%, 44.77%, nil and nil of revenue from operations (excludes revenue from the sale of traded goods and other operating revenue and adding back discounts and incentives) during such periods). However, the company cannot assure you that the Government will continue this scheme or that its bids will be accepted and future contracts will be awarded to it. Any reduction in Government funding for this scheme or its inability to obtain contracts may have an adverse impact on its business, results of operations, financial condition and cash flows. Further, in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, revenue from operations for its Material Subsidiary, Oswal Solar on a standalone basis, which is currently engaged in the manufacturing of solar modules and primarily supplying to the Company, was Rs. 2,812.83 million, Rs. 593.22 million, nil and nil, respectively.

  • Its business is dependent on the performance of the agricultural sector (Rs. 9,510.52 million, Rs. 7,024.71 million, Rs. 3,254.70 million and Rs. 2,964.21 million from the agricultural sector in the nine months ended December 31, 2024 and Fiscals 2024, 2023 and 2022, respectively, representing 96.55%, 96.06%, 90.84% and 87.03% of revenue from operations (excluding revenue from the sale of traded goods and other operating revenue and adding back discounts and incentives) during such periods). Any adverse changes in the conditions affecting the agricultural sector may adversely impact its business, results of operations, financial condition and cash flows. Further, in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, revenue from operations for its Material Subsidiary, Oswal Solar on a standalone basis, which is currently engaged in the manufacturing of solar modules and primarily supplying to the Company, was Rs. 2,812.83 million, Rs. 593.22 million, nil and nil, respectively.

  • The company derives a significant portion of its revenues from the sale of the company products in the states of Haryana (34.75%, 72.28%, 44.00% and 49.60% in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, respectively), Maharashtra (44.30%, 7.85%, 18.69% and 9.85% in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, respectively), Uttar Pradesh (6.14%, 6.12%, 3.76% and 2.73% in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, respectively) and Rajasthan (5.28%, 4.53%, 7.29% and 17.85% in the nine months ended December 31, 2024, Fiscal 2024, 2023 and 2022, respectively). Consequently, any adverse developments affecting its operations in such regions, could have an adverse impact on its business, results of operations, financial condition and cash flows.

  • Its business largely depends upon the company top 10 customers, which contributed 78.87%, 79.50%, 72.56% and 66.29% of its revenue from operations for the nine months ended December 31, 2024, Fiscals 2024, 2023 and 2022, respectively. The loss of any of these customers could have an adverse effect on its business, results of operations, financial condition and cash flows.

  • Its operations are supported by two manufacturing facilities which are situated at Karnal, Haryana. The Companys facility is dedicated to the production of pumps and motors, while its Material Subsidiary, Oswal Solars facility is dedicated to manufacturing of solar modules. The geographical concentration of its manufacturing facilities exposes the company operations to potential risks arising from local and regional factors such as adverse social and political events, weather conditions and natural disasters in this region.

  • The company plan to increase its manufacturing capacity for solar modules. If such expansion does not lead to increases in its revenue from operations, it could have an adverse effect on its business, results of operations, financial condition and cash flows. Further, its proposed capacity expansion plan is subject to the risk of unanticipated delays in implementation and cost overruns. Further, the company has limited experience in the manufacturing of solar modules, and its may not be successful in this endeavour.

  • The company intend to utilise a portion of the Net Proceeds to purchase certain equipment and machinery for its manufacturing facility at Karnal, Haryana and for the company Material Subsidiary, Oswal Solars existing and new manufacturing facility at Karnal, Haryana which is subject to cost escalation and is also based on quotations that may be subject to change or may expire. The company is yet to place orders for the purchase of such equipment and machinery and the company cannot assure you that its will be able to place orders for such equipment and machinery, in a timely manner or at all. Further, given that the company does not have prior experience in the manufacturing of ethylene-vinyl acetate (EVA), the company cannot assure you that its proposed expansion in relation to EVA will be successful.

  • Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations, financial condition and cash flows.

  • Its Subsidiaries Oswal Solar and Oswal Green have incurred losses in the past and may incur losses in the future which could have an adverse effect on its business and results of operations.

  • The number of Turnkey Solar Pumping Systems that the company is awarded by state and central government institutions are subject to receipt of interest from relevant beneficiaries and the actual number of Turnkey Solar Pumping Systems that the company eventually install may be lower than those awarded to it.

How to Apply for Oswal Pumps Ltd IPO on INDmoney

1

Download the INDmoney app and complete your KYC to open an account.

2

Go to the INDstocks section and tap on IPO, or search for ‘IPO’.

3

Select Oswal Pumps Ltd IPO from the list of live IPOs.

4

View key details like price band, lot size, and dates, then tap ‘Apply Now’.

5

Choose the number of lots and place your order via UPI.

6

Your funds will be blocked until the share allotment is finalized.

Financial Performance of Oswal Pumps Ltd

*Value in ₹ crore
*Value in ₹ crore
*Value in ₹ crore
Details202220232024
Total Revenue361.1387.5761.2
Total Assets221.8252.3511.3
Total Profit16.934.297.7

Listed Competitors of Oswal Pumps Ltd

Kirloskar Brothers Ltd

Kirloskar Brothers Ltd

Kirloskar Brothers Limited (KBL) is a global fluid management company and the mother company of the Kirloskar Group. KBL manufactures and provides fluid management systems, including pumps, valves, and hydro-turbines, for various applications like water supply, power generation, irrigation, and more.

Shakti Pumps (India) Limited

Shakti Pumps (India) Limited

Shakti Pumps (India) Ltd. is a company that manufactures energy-efficient pumps and motors, with a focus on solar pumps, and is a leading exporter in India. They offer a wide range of pumps for various applications, including domestic, agricultural, industrial, and commercial sectors.

WPIL Limited

WPIL Limited

WPIL Limited (formerly Worthington Pump India Limited) is a multinational company that designs, develops, manufactures, erects, commissions, and services pumps and pumping systems.

Oswal Pumps Ltd Shareholding Pattern

Promoters 99.28%
NameRoleStakeholding
Shorya Trading Company Pvt LtdPromoter54.81%
Vivek GuptaPromoter25.17%
Ess Aar Corporate Services Pvt LtdPromoter17.68%
Radhika GuptaPromoter1.62%
Others0.72%

About Oswal Pumps Ltd

Oswal Pumps Limited makes different types of water pumps and electric motors. Over the years, it has also started making solar-powered pumps and solar panels. These are used mostly by farmers to irrigate their fields, but they’re also used in homes, offices, factories, and even shopping malls. The company started in 2003 by making simple monoblock pumps (surface pumps for on-the-ground use), and later started making submersible pumps (work underwater), and solar-powered systems.

In 2019, the Indian government launched a big scheme called the PM Kusum Scheme, which encourages farmers to use solar pumps instead of diesel ones. Oswal saw this as a great opportunity and started making solar-powered agricultural pumps. It became one of the biggest suppliers of these solar pumps under the scheme. The company not only makes the pumps but also the full system, including solar panels, mounting structures, controllers, and installation services.

Most of Oswal’s income now comes from selling these solar pumping systems under government schemes. For example, in the financial year 2024, more than 85% of their business came from the PM Kusum Scheme. The company supplies these systems directly to farmers or through big companies like Tata Power Solar that handle large government orders. Because they make everything in-house, it helps them control the cost and maintain quality. In short, Oswal Pumps has turned from a basic pump maker into a key player in India’s solar farming movement.

Oswal Pumps' IPO size is worth ₹1,387.34 crore, which includes a fresh issue of ₹890 crore and an offer for sale (OFS) of 81,00,000 equity shares worth ₹497.34 crore. Oswal Pumps' IPO price range is ₹584 to ₹614 per share, which is opening on June 13, 2025, to June 17, 2025.

Products & Services

ProductEngineering
Known ForManufacturer of pumps and motors
Top ProductsSubmersible Pumps,Monoblock Pumps,Pressure Pumps

Frequently Asked Questions of Oswal Pumps Ltd IPO

What is the size of the Oswal Pumps Ltd IPO?

The size of the Oswal Pumps Ltd IPO is ₹1,387.34 Cr.

What is the allotment date of the Oswal Pumps Ltd IPO?

Oswal Pumps Ltd IPO allotment date is Jun 18, 2025 (tentative).

What are the open and close dates of the Oswal Pumps Ltd IPO?

The Oswal Pumps Ltd IPO will open on Jun 13, 2025 and close on Jun 17, 2025

What is the lot size of Oswal Pumps Ltd IPO?

The lot size for the Oswal Pumps Ltd IPO is 24.

When will my Oswal Pumps Ltd IPO order be placed?

Your Oswal Pumps Ltd IPO order will be placed on Jun 13, 2025

Can we invest in Oswal Pumps Ltd IPO?

Yes, once Oswal Pumps Ltd IPO opens, you can invest in the shares of the company.

What would be the listing gains on the Oswal Pumps Ltd IPO?

The potential listing gains on the Oswal Pumps Ltd IPO will depend on various market factors and cannot be predicted with certainty.

What is 'pre-apply' for Oswal Pumps Ltd IPO?

'Pre-apply' for Oswal Pumps Ltd IPO indicates your interest in the IPO before it opens for subscription. This ensures quick application when the IPO goes live.