Oswal Pumps' Strategic IPO: A New Era in Pump Manufacturing

Oswal Pumps has launched an initial public offering (IPO) with a price band set between Rs 584 and Rs 614 per share, seeking to raise Rs 1,387 crore. The subscription period for this offering is scheduled from June 13 to June 17.

The IPO consists of a fresh issuance of shares worth Rs 890 crore and an offer-for-sale (OFS) comprising 81 lakh stocks valued at Rs 497.34 crore by promoter Vivek Gupta. The total issue size reaches Rs 1,387.34 crore at the higher end of the pricing spectrum.

Proceeds will fund the company's capital expenditures, invest in its subsidiary Oswal Solar, establish new manufacturing units in Karnal, Haryana, repay debts, and handle corporate expenses. Oswal Pumps, founded in 2003, has seen a 97% rise in revenue, marking significant growth in its operational domain.

(With inputs from agencies.)