Oswal Pumps listing ceremony
| Photo Credit:
X/@NSEIndia

Shares of Oswal Pumps Ltd traded in positive territory after listing at over 3 per cent premium on bourses against the issue price of ₹614.

On Friday, the stock debuted at ₹632, at a 2.93 per cent premium on the BSE. On the NSE, it debuted at 3.25 per cent premium ₹634.

As at 11.50 am, the stock traded 1.71 per cent positive on the BSE at ₹642.80, and up 1.51 per cent on the NSE at ₹643.55.

Oswal pumps listing was well below expectation despite recovering mood in the market and robust response from investors, Prashanth Tapse, Senior VP (Research), Mehta Equities, said.

However, Mehta Equities continue to recommend a hold call for long term after listing as the company is well-positioned to benefit from structural growth drivers in the agri and infrastructure sectors.

“We continue to believe the IPO demand was driven by attractive valuation levels, offering reasonable long term upside potential along with a well-diversified product portfolio across agriculture, industrial, and domestic water solutions. We also see company’s strategic positioning to benefit from ongoing government infrastructure and rural development initiatives, especially those focused on water management and irrigation,” Tapse said.

The brokerage views Oswal Pumps as a compelling long-term investment opportunity, aligned with the government’s continued emphasis on rural electrification and promotion of solar-powered irrigation systems.

For non-allotted investors, Mehta Equities emphasises accumulating on any dips post-listing, particularly if broader market sentiment causes short-term volatility. The business offers a strong combination of sectoral tailwinds and value-based fundamentals.

Gaurav Garg, Lemonn Markets Desk, said, Oswal Pumps has drawn positive market sentiment backed by strong fundamentals, a solid anchor book and robust institutional participation.

The listing gains are expected to be in the range of 8–12%, with long-term prospects buoyed by government thrust on rural electrification and solar-powered irrigation systems, Garg added.

The 1,387.34-crore IPO of Oswal Pumps secured 34.42 times subscription on the closing day of bidding. It was a combination of a fresh issue of shares valued at ₹890 crore and an offer-for-sale (OFS) of 81 lakh shares worth ₹497.34 crore at the upper end of the price band, by promoter Vivek Gupta.

The IPO had a price range of ₹584-614 per share.

Oswal Pumps commenced operations in 2003 by manufacturing low-speed monoblock pumps and over the years, it expanded operations to manufacture grid-connected submersible pumps and electric motors.

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Published on June 20, 2025