Oswal Pumps IPO Allotment Finalized: Shares to List on June 20
By ScanX News Team
Oswal Pumps Ltd. has completed its IPO process with share allotment finalized on June 18. The IPO was oversubscribed 34.42 times, with QIBs subscribing 88.08x, NIIs 37.00x, and retail investors 3.60x. The IPO size was Rs 1,387.34 crore with a price band of Rs 584-614 per share. Listing is scheduled for June 20 on NSE and BSE.
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Oswal Pumps Ltd., a prominent player in the pump manufacturing industry, has successfully concluded its Initial Public Offering (IPO) process, marking a significant milestone for the company. The share allotment was finalized on June 18, following a robust subscription period that ended on June 13.
Strong Subscription Across Investor Categories
The IPO witnessed overwhelming interest from various investor categories, resulting in an impressive overall subscription of 34.42 times. Here's a breakdown of the subscription details:
| Investor Category | Subscription Rate |
|---|---|
| Qualified Institutional Buyers (QIBs) | 88.08x |
| Non-Institutional Investors (NIIs) | 37.00x |
| Retail Individual Investors | 3.60x |
This strong response across all investor segments underscores the confidence in Oswal Pumps' business model and growth prospects.
IPO Details
- Issue Size: Rs 1,387.34 crore
- Offer Structure: Combination of fresh issue and offer-for-sale
- Price Band: Rs 584 to Rs 614 per share
Listing Details
Investors who have been allotted shares can look forward to the listing, which is scheduled for June 20 on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
What's Next for Investors
With the allotment process completed, investors who participated in the IPO can check their allotment status through the registrar's website or their respective broking platforms. Those who have been allotted shares should ensure their demat accounts are funded for the share credit, while those who didn't receive an allotment can expect a refund as per the timeline specified in the offer document.
The strong subscription numbers and imminent listing on major exchanges mark a promising start for Oswal Pumps in the public market. As always, investors are advised to keep an eye on market conditions and company performance post-listing.
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