Oswal Pumps IPO: Key Insights of Upcoming IPO

Oswal Pumps Private Limited submits DRHP with SEBI and will be coming up with its public issue in the upcoming time; the public issue will be offering a 100% book-built offer. This upcoming IPO is offering a fresh issue worth up to Rs 1,000 crore of equity shares and an OFS of up to 1.13 crore equity shares. The total aggregate size in rupees and the number of equity shares are not disclosed by the company. The face value mentioned by the company is Re 1 per each. This new IPO issue is being made through the book-building process with a reservation of less than 75% of the new offer reserved for Qualified Institutional Investors, not more than 15% reserved for NII and not more than 10% reserved for Retail Individuals. The opening and closing dates of this IPO have not yet been disclosed, and the company will announce the price band soon.

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About Oswal Pumps Limited

Oswal Pumps Limited, established in 2003, has rapidly emerged as one of India’s leading vertically integrated solar pump manufacturers. The company’s success stems from its experienced team of engineers and technicians, who have driven growth across a range of products, including solar pumps, submersible pumps, monoblock pumps, pressure pumps, sewage pumps, electric motors, submersible winding wires, cables, and electric panels for domestic, agricultural, and industrial use.

The company operates a 45,000 sq. meter manufacturing facility, strategically located near key agricultural states like Haryana, Punjab, and Uttar Pradesh. Equipped with modern machinery, the facility produces high-quality products. Oswal Pumps Limited holds ISO 9001:2015 certification, with its products also carrying ISI and BEE certifications. With a commitment to quality, innovation, and sustainability, Oswal Pumps has solidified its leadership in the industry, delivering reliable products tailored to diverse customer needs.

Oswal Pumps Limited IPO Objectives

The fundings from the Fresh Issue are proposed to be utilized for Funding certain capital expenditures of the company, investment in the wholly-owned Subsidiary, Oswal Solar in the form of debt or equity, for funding the setting up of new manufacturing units at Karnal, Haryana, Pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by the company, investment in wholly-owned Subsidiary, Oswal Solar, in the form of debt or equity, for repayment/prepayment of borrowings, in full or part, of Oswal Solar and general corporate purposes.

Financials of the Company

For the period ending March 31, 2024, the company showed strong financial growth. Assets more than doubled, increasing by 102.7%, from Rs 252.30 crore to Rs 511.28 crore. Revenue also saw significant growth, rising by 97%, from Rs 385.04 crore to Rs 758.57 crore. Profit after tax surged by 185.5%, increasing from Rs 34.20 crore to Rs 97.67 crore. Total borrowing grew by 27.2%, rising from Rs 59.28 crore to Rs 75.42 crore. These figures highlight a robust financial performance, with notable increases in revenue and profit.

Lead manager(s), Registrar of IPO & Promoter(s) of the Company

The IPO is managed by IIFL Securities Limited, Axis Capital Limited, CLSA India Private Limited, JM Financial Limited and Nuvama Wealth Management Limited which are the book-running lead managers of this public issue. The company has appointed Link Intime India Private Limited

as the registrar for this public issue. The promoter(s) of the company are Vivek Gupta, Amulya Gupta, Shivam Gupta, Ess Aar Corporate Services Private Limited, Shorya Trading Company Private Limited and Singh Engcon Private Limited (As per DRHP, filed by the company to the SEBI).

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