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Oswal Pumps IPO to List June 20 After 34.42-Times Subscription

Trading at an 8.63% premium in the grey market suggests the debut could deliver a double-digit gain.

Oswal Pumps delivers a mild listing pop on debut; stock lists at 3% premium
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Overview

  • The allotment has been finalised and Oswal Pumps shares will debut on BSE and NSE on June 20.
  • The IPO raised ₹1,387.34 crore at a price band of ₹584–614 per share, closing on June 17.
  • Qualified institutional buyers subscribed 88.08 times, non-institutional investors 36.70 times and retail investors 3.60 times.
  • Unlisted shares trade at ₹667 in the grey market, reflecting an 8.63% premium to the issue price.
  • Proceeds are earmarked for capital expenditure, expansion of Oswal Solar, debt repayment and general corporate purposes.