The allotment status for Oswal Pumps Ltd’s Rs 1,387 crore initial public offering (IPO) is expected to be finalised today, June 18. Investors can check their application status on the Link Intime website, or through the BSE and NSE portals.

The Karnal-based company is likely to list its shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on June 20.

The IPO was open for bidding from June 13 to June 17. It included a fresh issue of Rs 890 crore and an offer-for-sale (OFS) worth Rs 497.34 crore by promoters. The price band was fixed at Rs 584 to Rs 614 per share, and the minimum lot size was 24 shares.

Oswal Pumps IPO Day 2: Issue booked 1.61 times; HNI, retail portions lead  

The IPO was subscribed 34.42 times overall. The portion for qualified institutional buyers (QIBs) was subscribed 88.08 times, non-institutional investors (NIIs) 36.70 times, and retail investors 3.60 times. Anchor investors had invested Rs 416.20 crore a day before the IPO opened.

Oswal Pumps IPO subscribed 34.42x on last day; QIBs lead with 88x bids 

Established in 2003, Oswal Pumps is a pump and motor manufacturing company based in Karnal. It has completed over 26,000 solar pump installations under the PM-KUSUM scheme and exports to 17 countries. The company also makes electric motors, control panels and solar systems.

For the nine months ending December 2024, Oswal Pumps reported revenue of Rs 1,067 crore and net profit of Rs 216 crore. The return on net worth stood at 88.73 percent. The estimated post-issue price-to-earnings (P/E) ratio is 24.22 times.