Oswal Pumps IPO 2025: Price, Lot Size & Allotment

The Oswal Pumps Limited IPO opens on June 13, 2025, presenting investors with an opportunity to participate in India's rapidly expanding solar pump and water management sector. With the government's focus on sustainable agriculture through schemes like PM-KUSUM and increasing demand for solar-powered irrigation solutions, this mainboard IPO comes at a strategically opportune time in India's renewable energy transition.

IPO Dates for Oswal Pumps

The Oswal Pumps IPO date is June 13, 2025 and the close date is June 17, 2025. The Oswal Pumps IPO allotment will be finalized on June 18, 2025 and the IPO listing on June 20, 2025.

Oswal Pumps IPO Market Lot

The Oswal Pumps IPO price band is set at ₹584-614 per share with minimum application amount yet to be announced.

IPO Details Summary

About Oswal Pumps IPO

Oswal Pumps Limited has established itself as one of India's fastest-growing vertically integrated solar pump manufacturers since its inception in 2003. The company has become a dominant player in India's solar agricultural pump sector, particularly benefiting from government initiatives promoting sustainable irrigation solutions.

1. Operational Footprint

• Oswal Pumps specializes in the manufacturing of solar pumps, submersible pumps, monoblock pumps, and electric motors.

• The company operates extensively across Haryana, Rajasthan, Uttar Pradesh, and Maharashtra.

• It focuses on providing water pump solutions for agricultural, domestic, and industrial use.

• Oswal Pumps is a major beneficiary of the government’s PM-KUSUM scheme, which promotes solar-powered irrigation.

2. Business Model

• The business primarily offers solar-powered agricultural pumps, submersible pumps, and electric motors.

• Its products are targeted at the agricultural sector, domestic water supply needs, and various industrial applications.

• The company operates a vertically integrated production facility located in Karnal, Haryana, ensuring manufacturing excellence.

• It also delivers turnkey solutions that include the complete installation and maintenance of solar pumping systems.

3. Manufacturing Capacity

• In terms of capacity, Oswal Pumps can produce up to 1,160.07 metric tons of stainless steel pumps annually.

• It has a manufacturing capacity of 2,366.04 metric tons for cast iron pumps.

• For stainless steel motors, the company can manufacture 1,314.72 metric tons per year.

• Its annual production capacity for cast iron motors stands at 561.60 metric tons.

Financial Performance of Oswal Pumps

The company demonstrated exceptional growth with revenue increasing from ₹387.47 crores in FY23 to ₹761.23 crores in FY24, representing a remarkable 96.5% year-on-year growth. Profit after tax surged by 185.5% from ₹34.2 crores to ₹97.67 crores in the same period.

Amount ₹ in Crores

1. Performance Analysis

Oswal Pumps Limited demonstrated exceptional growth trajectory with revenue nearly doubling in FY24. The company's strong performance is primarily driven by its dominant position in solar agricultural pumps under the PM-KUSUM scheme.

2. Key Financial Highlights:

• In FY24, Oswal Pumps recorded a remarkable 96.5% year-on-year growth in revenue.

• The company's profit after tax (PAT) also witnessed impressive growth of 185.5% compared to the previous year.

• PAT margin improved notably from 8.8% in the previous fiscal year to 12.8% in FY24.

• With a 43.8% share in total solar pump installations under PM-KUSUM, Oswal Pumps remains a dominant player.

• The company successfully executed 38,132 turnkey solar pumping system projects.

3. Government Scheme Participation

• Under the PM-KUSUM scheme, Oswal Pumps has supplied approximately 0.18 million solar-powered agricultural pumps.

• The company holds a significant market share, accounting for around 43.8% of the total installations under the scheme.

• Revenue generated from solar systems stood at ₹62.69 crores in FY24, contributing 85.72% of the company's operational revenue.

Oswal Pumps IPO Share Reservation

The Oswal Pumps IPO follows standard mainboard reservation norms for share allocation across different investor categories.

Goal of Oswal Pumps IPO

The primary goal of the Oswal Pumps IPO is to raise ₹890 crores through fresh issue. The company has outlined strategic fund utilization for business expansion and debt optimization.

Fund Utilization Breakdown

• Oswal Pumps has invested ₹273 crores in its subsidiary, Oswal Solar, for setting up a new manufacturing facility in Haryana.

• The company has allocated ₹89.86 crores as capital expenditure to support its operational growth.

• An amount of ₹280 crores has been set aside for debt repayment at the company level.

• Additionally, ₹31 crores will be used to repay debt in the Oswal Solar subsidiary.

• The remaining funds will be utilized for general corporate purposes and issue-related expenses.

Strategic Objectives

• Through Oswal Solar, the company aims to scale up its manufacturing capabilities and increase production capacity.

• This expansion also supports Oswal Pumps’ strategy to strengthen its position in the growing solar pump market.

• Debt optimization efforts are focused on reducing the company’s financial leverage and lowering interest expenses.

• Investments are being made in advanced manufacturing processes to enhance technological capabilities.

• The company is also allocating funds to support increased working capital requirements as operations expand.

How to Apply for Oswal Pumps IPO?

Step-by-step guide on how to apply for the Oswal Pumps IPO:

Step 1 : Login to your broker app (Zerodha, Angel One, Groww, etc.)

Step 2 : Go to the IPO section and select Oswal Pumps IPO

Step 3 : Click "Apply"

Step 4 : Enter:

• Lot size (minimum lot size TBA)

• Bid price (₹584–₹614 or select Cut-Off)

• Your UPI ID

Step 6 : Submit the application

Step 7 : Approve the UPI mandate in your UPI app (PhonePe, GPay, etc.)

⏰ Important: Mandate must be approved before 5 PM on the same day or before IPO closes (June 17).

How to Check Oswal Pumps IPO Allotment Status?

You can check for Oswal Pumps IPO allotment through multiple channels including BSE, NSE, and the registrar portal.

Method 1 : Check On BSE/NSE

Step 1 : Visit the BSE or NSE Official Website

Step 2 : Navigate to the IPO Allotment Section

Step 3 : Select Equity as the issue type

Step 4 : Choose Oswal Pumps IPO

Step 5 : Choose whether to proceed with the PAN number or application number

Step 6 : Submit your details to get the allotment status online

Check On Registrar Portal (Link Intime)

Step 1: Visit Link Intime India official website

Step 2 : Select IPO allotment status

Step 3: Choose Oswal Pumps IPO

Step 4 : Enter PAN or application number

Step 5: Submit to check status

Peer Comparison

Know Before Investing

Risks

1. Government Policy Dependence:

Heavy reliance on government schemes like PM-KUSUM for revenue generation.

2. Competitive Market:

Intense competition from established players in pump manufacturing sector.

3. Raw Material Price Volatility :

Fluctuating steel and copper prices affecting manufacturing costs.

4. Seasonal Demand :

Agricultural pump demand subject to monsoon patterns and crop cycles.

5. Technology Disruption :

Risk of technological changes in solar pump design and efficiency.

6. Execution Risk :

Ability to scale up operations through new subsidiary Oswal Solar.

Strengths

1. Market Leadership :

Dominant 43.8% market share in PM-KUSUM scheme solar pump installations.

2. Exceptional Growth :

96.5% revenue growth and 185.5% profit growth in FY24.

3. Vertical Integration :

Complete manufacturing control from components to finished products.

4. Government Support :

Strong backing through renewable energy and agricultural modernization policies.

5. Experienced Management :

Over 20 years of industry experience since 2003 inception.

6. Strategic Location :

Manufacturing facility in Haryana with good connectivity to target markets.

7. Turnkey Solutions :

Complete project execution capabilities including installation and maintenance.

Conclusion

Oswal Pumps IPO offers a strong opportunity for long-term investors looking to tap into India’s renewable energy and agricultural growth. With 96.5% revenue and 185.5% profit growth in FY24, and a 43.8% market share in PM-KUSUM installations, the company shows strong execution and market leadership.

The planned capacity expansion via Oswal Solar enhances its growth potential. However, investors should be aware of risks from high dependence on government schemes and a competitive market.

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Disclaimer : This analysis is for educational purposes only and should not be considered as financial advice. Please consult with your financial advisor before making any investment decisions. Invest only after reading the offer document and understanding the associated risks.

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