Mumbai27 minutes ago
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The IPO of Oswal pumps, the pump and motor manufacturer, have opened from today. Investors can apply it by 17 June. The company shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 20 June.
Oswal wants to raise a total of ₹ 1,387.34 crore through pumps IPO. Out of this, ₹ 890 crore new shares (fresh issues) will be issued and ₹ 497.34 crore shares will be sold under offer for sale (offs).
How much money can you spend minimum and maximum?
Oswal pumps have fixed the price band ₹ 584 to ₹ 614 per share. There will be 24 shares in minimum investment in a lot. If you apply for 1 lot at a cut-off price, then you have to invest around ₹ 14,736.
At the same time, retail investors can apply for maximum 13 lots or 312 shares. For this, investors will have to invest Rs 1,91,568 according to the upper prize band.
35% of the issue reserved for retail investors
The company has reserved 50% of the IPO for qualified Institutional Buyers (QIB). Apart from this, 35% share is reserved for non-institutional investors (NII).
The amount raised from the IPO will be used by the company for its capital experience, new plant of subsidiary Oswal Solar, repayment of debt and General Corporate Purpose.
Oswal pumps started in 2003
The 2003 Oswal pumps manufacture pumps, motor and solar pumping systems. The company’s product portfolio includes solar pumps, submersible pumps, monablock pumps, pressure pumps, electric motors, cables, and electric panels. The company has installed more than 26,270 solar pumping systems in several states under the PM-Kusum scheme. The company has more than 636 distributors across the country and also exports to 17 countries.
