Oswal Pumps IPO - Listing Performance & Details

Oswal Pumps Limited was incorporated in 2003 and is headquartered in Karnal, Haryana. It works in the pump manufacturing sector, specializing in solar-powered and grid-connected pumps.

The company is a vertically integrated manufacturer of solar-powered and grid-connected agricultural pumps, submersible and monoblock pumps, pressure and sewage pumps, electric motors, submersible winding wires and cables, solar modules, and electric panels, sold under the Oswal brand. Its products serve farmers, households, commercial establishments, and industries, with applications ranging from field irrigation to water treatment and machinery cooling. A significant part of its revenue comes from turnkey solar pumping systems supplied under the government's PM-KUSUM Scheme. As of March 31, 2024, the company had 164 employees and a distributor network that grew to 636 from 473 two years earlier, and it had exported to 17 countries between April 2021 and March 2024. The promoters are Vivek Gupta, Amulya Gupta, Shivam Gupta, Ess Aar Corporate Services Private Limited, Shorya Trading Company Private Limited, and Singh Engcon Private Limited.

Revenue rose from Rs 387.47 crore in FY23 to Rs 761.23 crore in FY24, while profit after tax rose from Rs 34.20 crore to Rs 97.67 crore over the same period. The IPO was a mainboard, book-built issue of Rs 1,387.34 crore, comprising a fresh issue aggregating up to Rs 890 crore and an offer for sale of up to 81 lakh equity shares aggregating to Rs 497.34 crore, primarily by promoter Vivek Gupta, listed on the BSE and NSE. As per the RHP, net proceeds from the fresh issue were proposed to be used for setting up a new manufacturing facility, repayment or prepayment of certain borrowings (about Rs 280 crore for Oswal Pumps and Rs 31 crore for Oswal Solar), and general corporate purposes including working capital and business development.