Mumbai : Shares of Oswal Pumps Limited debut on the exchange.
The scrip listed Rs 632 per share on BSE, a premium of 2.93%, and Rs 634 per share on NSE, a premium of 3.26%. The company’s share price closed at Rs 624.90 per share on the BSE, a 1.78% premium, and at Rs 624 per share on the NSE, a 1.63% premium.
As per NSE, the total quantity traded stood at 163.75 lakh shares, on BSE the total Quantity stood at 14.52 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1,135.48 crore.
The Market Capitalization of the Company at today’s closing price stood at Rs. 7,122.45 Crore as per BSE and Rs. 7,112.19 Crore as per NSE.
The company had offered Rs 1387.34 crore issue for subscription from June 13 to June 17. This garnered substantial interest, and the offer was subscribed 34.42 times. Qualified Institutional Buyer Portion was subscribed 88.08 times. Non-Institutional Investors Portion and Retail Portion were subscribed 36.69 times and 3.60 times respectively.
Oswal Pumps commenced its operations in 2003 with the manufacturing of low-speed monoblock pumps. Over the years, it expanded its operations to manufacture grid-connected high-speed monoblock pumps, grid-connected submersible pumps and electric motors.
The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors as well as solar modules, which it sells under the ‘Oswal’ brand. It has over 22 years of experience in pumps and caters to the diverse requirements of end-users in the agricultural sector for irrigating fields; the residential sector for maintaining gardens and fountains, extracting water, supplying water to overhead tanks and cleaning households and small establishments; commercial premises; and industries.
Oswal Pumps started supplying pumps to players participating and providing Turnkey Solar Pumping Systems under the PM Kusum Scheme, including Tata Power Solar Systems Limited.
As of December 31, 2024, it had executed orders for 38,132 Turnkey Solar pumping Systems directly under the PM Kusum Scheme for several states such as Haryana, Rajasthan, Uttar Pradesh and Maharashtra. It also supplied pumps to certain vendors empanelled under the Mukhyamantri Saur Krushi Pump Yojana launched by the Government of Maharashtra in 2019.
The company operate a manufacturing facility located at Karnal, Haryana, which is one of India’s largest single-site facilities for manufacturing pumps, covering a total land area of 41,076 square meters as of December 31, 2024. (Source: 1Lattice Report). It also operates a manufacturing facility through its wholly-owned Subsidiary Oswal Solar Structure Private Limited for manufacturing solar modules for its Turnkey Solar Pumping Systems. Its annual installed capacity was 570 megawatts (“MW”) for solar modules. The company has an extensive network of 925 distributors as of December 31, 2024.
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