India's Oswal Pumps climbs 4% in trading debut

Oswal Pumps

20/06/2025 07:37

** Indian solar pumps maker Oswal Pumps OSWP.NS jumps 4.3% to 640.3 rupees on first day of trading

** Stock opened at 634 rupees vs issue price of 614 rupees; co valued at ~$843 million

** IPO consists of fresh share issue worth 8.9 billion rupees, sale of 8.1 million existing shares

** IPO was subscribed 34.42 times, driven by qualified institutional buyers subscribing by 88.08x

** "We believe the IPO offers attractive entry for medium- to long-term investors seeking exposure to the confluence of agri-infrastructure and clean energy," said Gaurav Garg, research analyst at Lemonn Markets Desk

** Proceeds from fresh issue to fund co's capex plans, set up units in Haryana state, trim co and subsidiary's debt

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))