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OSWAL PUMPS SHARE PRICE
Oswal Pumps stock debuts at 3% premium on NSE, BSE.
IPO details:
Oswal Pumps IPO received 34.42 times subscription on the closing day of bidding.
The ₹1,387.34-crore initial public offering (IPO) got bids for 55,80,29,976 shares against 1,62,12,980 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) fetched 88.08 times subscription while the category for non-institutional investors got subscribed 36.70 times. The portion for Retail Individual Investors (RIIs) received 3.60 times subscription.
Ahead of the IPO, company mopped up ₹416.2 crore from anchor investors.
The IPO is a combination of a fresh issue of shares valued at Rs 890 crore and an offer-for-sale (OFS) of 81 lakh shares worth Rs 497.34 crore at the upper end of the price band, by promoter Vivek Gupta. This aggregates the issue size at Rs 1,387.34 crore.
Price band
The IPO had a price range of ₹584-614 per share.
IIFL Capital Services, Axis Capital, CLSA India, JM Financial and Nuvama Wealth Management were the book-running lead managers to the issue.
Use of funds
Proceeds from the fresh issue will be used for funding certain capital expenditures of the company, investment in wholly-owned subsidiary Oswal Solar in the form of debt or equity, setting up new manufacturing units at Karnal, Haryana, payment of debt, and general corporate purposes.
About the company
Oswal Pumps commenced operations in 2003 by manufacturing low-speed monoblock pumps and over the years, it expanded operations to manufacture grid-connected submersible pumps and electric motors.
FUTURE EXPECTED TARGET
Oswal Pumps expected short term target are expeceted to be 750 in short term if sustain above 650 price,
after day 1 close is 625.35 as showing in the chart near day low.
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