Oswal Pumps IPO: As India’s primary markets continue their bullish streak in 2025, Oswal Pumps Limited has thrown its hat into the Mainboard IPO ring, aiming to raise capital for expansion, brand visibility, and R&D. With the Make in India initiative and rising demand for smart water management systems, Oswal Pumps IPO debut is perfectly timed to tap into investor optimism in the manufacturing and water-tech space.
Positioned strategically in the water-tech and pump manufacturing space, the company is eyeing ₹1,387.64 crore through a public issue. The company is making a strategic move to scale its national and international footprint. But is this IPO a good bet for retail investors?
Let’s dive deep.
Oswal Pumps IPO: Key Issue Details
| Parameter | Details |
|---|---|
| IPO Price Band | ₹52 – ₹55 per share |
| Lot Size | 24 shares |
| Issue Size | Approx ₹1,387.34 Crores |
| Fresh Issue | Approx ₹890 Crores |
| Offer for Sale | Approx 81,00,000 Equity Shares |
| Issue Type | Book Build Issue |
| Minimum Retail Investment | ₹14,736 |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
| Listing Platform | NSE SME |
| Promoters | Vivek Gupta, Amulya Gupta, Shivam Gupta, Ess Aar Corporate Services Pvt Ltd, Shorya Trading Company Pvt Ltd, Singh Engcon Pvt Ltd |
Oswal Pumps IPO DRHP: Click Here
Oswal Pumps IPO RHP: Click Here
Oswal Pumps IPO: Market Lot Size & Application Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 24 Shares | ₹14,736 |
| Retail Maximum | 13 Lots | 312 Shares | ₹1,91,568 |
| S-HNI Minimum | 14 Lots | 336 Shares | ₹2,06,304 |
| B-HNI Minimum | 68 Lots | 1,632 Shares | ₹10,02,048 |
Oswal Pumps IPO Key Dates & Timeline
| Event | Date |
|---|---|
| IPO Opens | June 13, 2025 |
| IPO Closes | June 17, 2025 |
| Basis of Allotment | June 18, 2025 |
| Refunds Initiated | June 19, 2025 |
| Credit to Demat Accounts | June 19, 2025 |
| Listing on NSE SME | June 20, 2025 |
Oswal Pumps IPO: Latest Grey Market Premium (GMP)
- Current GMP: ₹95 per share
- Estimated Listing Price: ₹709 (based on upper price band)
- Listing Gain Potential: ~15% return
GMP trends reflect bullish investor confidence, with rising volumes and demand in the grey market ahead of listing.
Also Read: ₹12,500 Cr HDB Financial IPO: India’s Next Big NBFC Bet in 2025
What Does Oswal Pumps Do?
Founded in 2000, Oswal Pumps Ltd is one of India’s oldest manufacturers of submersible pumps, motors, and related components, catering to sectors like agriculture, housing, and industrial utilities. The company operates with over 4,000 SKUs across the pump category, exporting to over 35 countries.
With 2 large-scale manufacturing units and in-house testing facilities, Oswal is betting big on automation and smart irrigation solutions amid India’s growing water infrastructure demand.
Financial Performance Snapshot (FY22–Dec 2024)
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| FY22 | ₹361.11 Cr | ₹337.16 Cr | ₹16.93 Cr | ₹221.84 Cr |
| FY23 | ₹387.47 Cr | ₹340.87 Cr | ₹34.20 Cr | ₹252.30 Cr |
| FY24 | ₹761.23 Cr | ₹631.36 Cr | ₹97.67 Cr | ₹511.28 Cr |
| 9M FY25 (Dec) | ₹1067.34 Cr | ₹781.83 Cr | ₹216.71 Cr | ₹1096.01 Cr |
Year-on-Year PAT Growth:
FY22 to FY23: +102%
FY23 to FY24: +185%
FY24 to 9M FY25: Already +122% YoY
Peer Comparison: How Oswal Pumps Stacks Up
To give investors clearer context, here’s how Oswal Pumps compares to some of the leading players in India’s industrial and water pump manufacturing space:
| Company | EPS | P/E Ratio | RoNW (%) | NAV (₹) | Revenue |
|---|---|---|---|---|---|
| Oswal Pumps Ltd (IPO) | ₹9.82 | N/A (GMP Implied) | 88.73% | ₹16.10 | ₹1,067.34 Cr (9M FY25) |
| Kirloskar Brothers Ltd | ₹43.84 | 37.57 | 22.30% | ₹216.47 | ₹4,001.20 Cr |
| Shakti Pumps (India) Ltd | ₹76.91 | 57.08 | 24.15% | ₹377.19 | ₹1,370.74 Cr |
| WPIL Ltd | ₹17.72^ | 25.53 | 18.78%^ | ₹127.56 | ₹1,664.40 Cr |
| KSB Ltd | ₹59.97 | 14.94 | 17.07% | ₹74.81 | ₹2,247.24 Cr |
| Roto Pumps Ltd | ₹12.55 | 45.29 | 21.95% | ₹61.88 | ₹274.50 Cr |
Key Takeaways:
Oswal’s RoNW of 88.73% is dramatically higher than any peer, indicating unmatched return efficiency on net worth—suggesting superior capital allocation.
Though Oswal’s EPS and NAV are lower, this is typical for a growing SME; it compensates with hypergrowth in profit and margins.
Oswal’s revenue (₹1,067 Cr in just 9 months) is fast approaching mid-cap scale, already outpacing Roto Pumps and catching up with WPIL.
Oswal Pumps IPO Valuation Metrics
| KPI | Value |
|---|---|
| ROE | 88.73% |
| ROCE | 81.85% |
| EBITDA Margin | 19.79% |
| PAT Margin | 12.83% |
| Debt-to-Equity Ratio | 0.42 |
| EPS (Basic) | ₹9.82 |
| RoNW | 88.73% |
| NAV | ₹16.10 |
Final Thoughts: A Strategic Flow Into Water-Tech?
The Oswal Pumps IPO isn’t just about pump manufacturing—it’s a reflection of India’s next leap in water-tech innovation and rural infrastructure.
For investors seeking exposure to India’s core manufacturing and export growth story, this IPO could be a strategic addition. Also, the Oswal Pumps has
- Long-standing brand and proven track record
- Consistent profitability and improving margins
- Export presence and Make in India synergies
- Reasonable valuation vs peers
But caution is advised due to risk of cyclical demand tied to monsoons and rural infrastructure
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Disclaimer: The views and investment insights provided here are based on publicly available information and do not constitute financial advice. Readers are advised to conduct their own research or consult certified financial experts before making investment decisions.
