Oswal Pumps IPO Set to Open It's IPO...
10 Jun, 2025
Oswal Pumps is a leading integrated manufacturer in India’s water management and solar pumping sector, is set to launch its initial public offering (IPO) on June 13, 2025. The company, headquartered in Haryana and established in 2003, has grown to become a prominent player across pumps, motors, pipes, and turnkey solar water pumping systems, operating through subsidiaries such as Oswal Solar Structure Pvt Ltd and Oswal Green Industries Pvt Ltd.
The IPO will have a combo of fresh issue and offer for sale components. The company will raise up to ₹890 crore through new equity shares. The company may consider a pre-IPO placement, which could reduce the size of the fresh issue if executed. There will be an offer for sale where 81 lakh equity shares will be sold by promoter Vivek Gupta, providing an exit route for the selling shareholder.
The total IPO size is expected to be around ₹1,387 crore, with the final offer size, price band, and minimum bid lot disclosed in the company’s subsequent filings and advertisements before the offer opening date.
Oswal Pumps Limited intends to use the proceeds from its ₹890 crore IPO primarily to fund capital expenditure for business expansion, invest in its wholly-owned subsidiary Oswal Solar to establish a new manufacturing facility in Haryana, repay or prepay outstanding borrowings of both Oswal Pumps and Oswal Solar, and for general corporate purposes. Specifically, the allocation includes ₹89.86 crore for capital expenditure, ₹273 crore for the new Oswal Solar unit, ₹280 crore for debt repayment of Oswal Pumps, ₹31 crore for debt repayment in Oswal Solar, and the remainder for general corporate needs.
The Offer for Sale (OFS) portion, comprising up to 81 lakh shares by promoter Vivek Gupta, will not benefit the company directly, as those proceeds go to the selling shareholder.
Oswal Pumps Limited is led by a promoter group consisting of Vivek Gupta (who also serves as chairman and managing director), Amulya Gupta, and Shivam Gupta, along with corporate promoters Ess Aar Corporate Services Private Limited, Shorya Trading Company Private Limited, and Singh Engcon Private Limited.
The company has appointed IIFL Capital Services, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management as the book-running lead managers for its IPO, with MUFG Intime India (formerly Link Intime) acting as the registrar to the issue.
Oswal Pumps has established itself as an integrated player in India’s industrial and infrastructure landscape, with a strong focus on both traditional water management and emerging solar pumping solutions. The company’s diverse product portfolio and expansion into green technologies position it well to benefit from India’s growing infrastructure and sustainability initiatives.
With a robust offering structure, clear use of proceeds, and a focus on both conventional and renewable technologies, Oswal Pumps’ upcoming IPO is poised to attract significant interest from institutional and retail investors. The outcome of this IPO will be closely watched as a barometer for investor sentiment in India’s industrial and green infrastructure sectors.
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