The allotment status for Oswal Pumps Ltd’s ₹1,387 crore initial public offering (IPO) is expected to be finalized today, June 18, 2024. Investors who participated in the IPO, which was open for bidding from June 13 to June 17, can check their application status on the Link Intime website, the official IPO registrar, or through the BSE and NSE portals. Following the allotment, the Karnal-based company is anticipated to list its shares on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on June 20, 2024.

The IPO comprised a fresh issue of shares worth ₹890 crore and an offer-for-sale (OFS) of ₹497.34 crore by promoters. The price band for the IPO was set at ₹584 to ₹614 per share, with a minimum lot size of 24 shares. At the upper end of the price band, the company successfully raised ₹1,387.34 crore. Prior to the public offering, anchor investors had already committed ₹416.20 crore.

Oswal Pumps IPO received a robust response from investors, achieving an overall subscription of 34.42 times. The Qualified Institutional Buyers (QIBs) segment was heavily subscribed at 88.08 times, while non-institutional investors (NIIs) bids reached 36.70 times. Retail investors showed significant interest with their portion being subscribed 3.60 times. The public issue received bids for 55.80 crore equity shares against 1.62 crore shares on offer.

To check the Oswal Pumps IPO allotment status online, investors can follow these steps:

• On the BSE website: Visit https://www.bseindia.com/investors/appli_check.aspx. Select 'Equity' under 'Issue Type' and then 'Oswal Pumps Limited' from the 'Issue Name' dropdown. Enter either your Application Number or PAN, verify 'I am not a robot', and click 'Search'.
• On the MUFG Intime (Link Intime) website: Go to https://in.mpms.mufg.com/Initial_Offer/public-issues.html. Choose 'Oswal Pumps Limited' in the 'Select Company' dropdown. Select a search option (PAN, Application Number, DP ID, or Account Number), enter the required details, and click 'Search'.

Established in 2003, Oswal Pumps is a prominent pump and motor manufacturing company based in Karnal. The company boasts a significant track record, having completed over 26,000 solar pump installations under the PM-KUSUM scheme and exporting its products to 17 countries. Beyond pumps, Oswal Pumps also manufactures electric motors, control panels, and solar systems.

Financially, Oswal Pumps demonstrated strong performance for the nine months ending December 2024, reporting a revenue of ₹1,067 crore and a net profit of ₹216 crore. The return on net worth stood impressively at 88.73 percent, with an estimated post-issue price-to-earnings (P/E) ratio of 24.22 times.

In the grey market, Oswal Pumps Ltd’s equity shares have shown a positive trend. According to stock market experts, the Grey Market Premium (GMP) for Oswal Pumps IPO today is ₹63 per share, indicating that shares are trading ₹63 higher than their IPO price. This suggests an estimated listing price of ₹677 per share, representing a premium of 10.26% over the upper issue price of ₹614 per share.

IIFL Capital Services, Axis Capital, CLSA India, JM Financial, and Nuvama Wealth Management served as the book running lead managers for the Oswal Pumps IPO, with MUFG Intime India acting as the official IPO registrar.