Oswal Pumps Limited IPO: 10 Key Things to Know Before Investing

Oswal Pumps Limited is a well-established manufacturer and distributor of pumps for domestic, agricultural, and industrial applications. The company’s product range includes solar pumps, submersible pumps, pressure pumps, sewage pumps, electric motors, and more.

A key differentiator is its leadership under the PM-KUSUM Scheme, where it has executed over 26,000 turnkey solar pumping system orders across major Indian states. Oswal’s vertically integrated manufacturing capabilities and wide distributor network (636 distributors as of March 2024) position it well for continued growth. With exports to 17 countries and a focus on clean energy solutions, Oswal Pumps is aligned with India’s sustainability goals. 

Here are the key details of the IPO:

• IPO dates: June 13 - 17, 2025
• Listing date: June 20, 2025
• Price band: ₹584 - ₹614 per share
• Total issue size: ₹1,387.34 Cr
• Face value: ₹1 per share
• Listing exchange: BSE, NSE
• Lot size: 24 Shares
• Promoters: Vivek Gupta, Amulya Gupta, Shivam Gupta, Ess Aar Corporate Services Pvt. Ltd., Shorya Trading Co. Pvt. Ltd., Singh Engcon Pvt. Ltd. 

The minimum investment required to apply for the Oswal Pumps Limited IPO is ₹14,016, based on the lot size of 24 shares at the lower price band of ₹584 per share. To improve your chances of allotment, applying at the upper price band would require ₹14,736 (24 shares at ₹614 per share). 

Founded in 2003, Oswal Pumps Limited manufactures a wide range of pumps and related products, catering to domestic, agricultural, and industrial sectors.

• Products: Solar pumps, monoblock pumps, sewage pumps, submersible wires, electric panels, etc.
• Operations: Based out of Karnal, Haryana with a manufacturing facility spread across 41,076 sq. meters.
• Reach: Growing presence across India and exports to 17 international markets.
• Government Partnerships: Major supplier under PM-KUSUM Scheme for solar-powered agricultural pumps. 

The primary objectives of the Oswal Pumps IPO are:

• To fund capital expenditure and new manufacturing units under its wholly-owned subsidiary, Oswal Solar.
• Prepayment or repayment of certain outstanding borrowings by both the company and Oswal Solar.
• To support general corporate purposes. 

The IPO allocation structure (exact figures not disclosed) is expected to be:

• QIB Shares Offered (QIBs): Not less than 50% of the Issue
• Retail Shares Offered: Not more than 35% of the Issue
• NII (HNI) Shares Offered: Not more than 15% of the Issue 

Strengths:

• Leadership in solar-powered agricultural pumps under PM-KUSUM Scheme
• Vertically integrated manufacturing infrastructure
• Wide and expanding distributor network
• Strong design and engineering capabilities
• Diverse product offerings for multiple applications

Risks:

• Heavy dependence on PM-KUSUM Scheme for revenues
• Business performance closely tied to the agriculture sector
• Significant geographic concentration of operations in Haryana
• Reliance on a few key customers for a major share of revenue
• Exposure to regional and political risks in key operational areas 

The company has reported robust financial growth over the years (in INR Cr): 

• Basis of allotment: June 18, 2025

   

• Refund initiation: June 19, 2025

   

• Shares credited to demat accounts: June 19, 2025

   

• Listing date: June 20, 2025 

Oswal Pumps Limited is a strong player in the Indian pump industry with proven performance under large government schemes and a growing presence in both domestic and international markets. However, its heavy reliance on government policies and a few states poses some concentration risk.

Investors should carefully assess their risk appetite and long-term investment goals before applying to this IPO.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before investing.