Today is the last day on Oswal Pumps Limited to bid in IPO. On the second day of the bid on Monday, interest in Oswal pumps IPO was very strong. This IPO was opened on 13 June for subscription. On Thursday, the company has raised ₹ 416.2 crore from anchor investors just a day before the company opened the stock sales for public membership. On the second day of the bid on Monday, Oswal pumps IPO got good support.
How much is the price band per share
Oswal pumps IPO is priced between ₹ 584 and ₹ 614 per share. The total offering of this IPO is ₹ 1,387 crore. Investors can offer bids in minimum 24 equity shares and then 24 shares of multiple. Investors can offer bids in minimum 24 equity shares and then 24 shares of multiple. According to the news, the anchor investors of this IPO include ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant MF, Society General, Edelweiss Life Insurance, BNP Pariba, Paris Asset Management Ferm Amundi and Paris’s Asset Management Ferm Amundi and Financial Services Company Capital Group.
When will the allotment be final?
The share allotment in Oswal Pump IPO is expected to be finalized on 18 June. The refund will start from June 19 and after the refund, the share will be deposited in the demat accounts of the allottees on the same day. The listing of Oswal Pump shares is scheduled on BSE and NSE on 20 June.
How much is subscription
Oswal Pump IPO has received 3.05 times subscription till the last day is written on the last day. It has received 0.33 times subscription to qualified institutional buyers (QIB). The NII category has a 9.97 times subscription. Similarly, the category of retail investors has received 1.59 times subscription.
What does the company do
The firm focuses on the production of solar energy powered and grid -related submersible and monoblock pumps. Also, electric motors, which include both induction and submersible as well as solar panels, are all sold under the ‘Oswal’ brand. The company has its presence in the industry with more than 22 years of experience.
How much GMP is going
According to Investorgen.com, the Oswal Pump is IPO GMP +56 on Tuesday. That is, the share price of Oswal pumps was trading in the gray market at a premium of ₹ 56. Keeping in mind the upper end of the IPO price band and the current premium in the gray market, the estimated listing price of Oswal pump share price is stated to be ₹ 670 per share, which is 9.12% higher than an IPO price of ₹ 614. In the last 11 sessions, under the activities of the gray market, the GMP of the IPO is witnessing a fast trend today and its great listing is expected.
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