The IPO of Oswal Pumps, a pump and motor manufacturing company, is opening from June 13 i.e. Initial Public Offering. Investors can apply for it till June 17. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on June 20. Oswal Pumps wants to raise a total of ? 1,387.34 crore through the IPO. Out of this, new shares (fresh issue) worth ? 890 crore will be issued and shares worth ? 497.34 crore will be sold under Offer for Sale (OFS). How much minimum and maximum money can be invested? Oswal Pumps has fixed the price band from ? 584 to ? 614 per share. The minimum investment will be 24 shares in one lot. If you apply for 1 lot at the cut-off price, you will have to invest around ? 14,736. At the same time, retail investors can apply for a maximum of 13 lots or 312 shares. For this, investors will have to invest Rs 1,91,568 according to the upper price 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% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). The company will use the funds raised from the IPO for its capital expenditure, new plant of subsidiary Oswal Solar, repaying loans and for general corporate purposes. Oswal Pumps was started in 2003. Oswal Pumps, formed in 2003, manufactures pumps, motors and solar pumping systems. The company’s product portfolio includes solar pumps, submersible pumps, monoblock pumps, pressure pumps, electric motors, cables, and electric panels. The company has installed more than 26,270 solar pumping systems in various states under the PM-KUSUM scheme. The company has more than 636 distributors across the country and also exports to 17 countries.
