Oswal Pumps made a subdued debut on the bourses today, listing at ₹634 on the NSE and ₹632 on the BSE a 3% premium over the IPO price of ₹614. While the gains were modest, investors who received allotment still earned a listing-day profit of ₹480 per lot, as each lot consisted of 24 shares.
The IPO had generated strong demand, with a subscription of 34.4× overall including 88× by Qualified Institutional Buyers (QIBs), 36.7× from Non-Institutional Investors (NIIs), and 3.6× in the retail segment. In the unlisted market, the oswal pump share price was commanding a grey market premium (GMP) of ₹40-₹70 ahead of listing, indicating higher listing expectations. However, broader market caution appears to have weighed on the debut.
Despite the softer opening, analysts remain optimistic on the long-term story. Oswal Pumps is a key player in the solar water pump segment, a space receiving strong policy tailwinds through initiatives like PM-KUSUM, which promotes solar-powered irrigation across rural India. Backed by a widespread dealer network and increasing demand for sustainable agri-infra, oswal pumps IPO is seen as well-positioned to benefit from structural growth.
Brokerages continue to project a 10-15% potential upside from current levels. For short-term participants, partial profit booking may be considered, while long-term investors might view this as an opportunity to hold on for structural tailwinds.
Disclaimer:
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