New Delhi, June 20 (H.S.): Shares of Oswal Pumps debuted strongly in the stock market today, with an IPO price of ₹614. They listed at ₹632 on BSE and ₹634 on NSE, enabling investors to gain approximately 3 percent instantly. After one hour of trading, the shares reached ₹644.40, translating to a profit of 4.95 percent for IPO investors. The IPO, which aimed to raise ₹1,387.34 crores, was open for subscription from June 13 to 17 and was met with impressive demand, being oversubscribed 34.42 times. The Qualified Institutional Buyers (QIB) portion was subscribed 88.08 times, the Non-Institutional Investors (NII) 36.70 times, and the retail investors’ share was 3.60 times.

The company issued new shares worth ₹890 crores and executed an offer-for-sale of 8.1 million shares. The funds raised will facilitate the establishment of a new manufacturing unit, debt repayment, and working capital needs. Financially, the company reported net profits of ₹16.93 crores in FY 2021-22, ₹34.20 crores in FY 2022-23, and ₹97.67 crores for FY 2023-24, with revenues growing to ₹761.23 crores at a CAGR of over 47 percent. For April to December 2024, net profit was ₹216.71 crores with revenues of ₹1,067.34 crores.

Hindusthan Samachar / Jun Sarkar