Oswal Pumps IPO Day 2 Status: Issue subscribed 78% So Far: Check June 16 GMP Live and Other Details Date-wise

Oswal Pump IPO: The Initial Public Offering (IPO) for Oswal Pumps Ltd commenced on Friday, June 13, and is scheduled to close on Tuesday, June 17. On Thursday, the company secured Rs 416.2 crore from anchor investors, just a day before opening the share sale to the public.

Oswal Pumps IPO Day 2 Live: Subscription Status

As of Day 2, the IPO has been subscribed approximately 74%, with the retail investor segment being 73% subscribed, and Non-Institutional Investors (NIIs) seeing a considerable response. Qualified Institutional Buyers (QIBs) portion received 9% bids. The company has received bids for 1,20,60,432 shares against 1,62,12,980 shares on offer, at 12:57, according to data on BSE.

Oswal Pump IPO Day 2 GMP Live: Check Date-wise GMP Rates

As of June 16, the grey market premium (GMP) for the Oswal Pumps IPO stood at Rs 47, reflecting a downward trend from previous sessions. The "Subject to Sauda" rate, which gives an indication of expected listing gains under certain conditions, dropped to Rs 560, according to IPO Watch.

On June 14, the GMP was Rs 60, also showing a downward movement, with the Subject to Sauda value at Rs 1,100. A day earlier, on June 13, the premium was significantly higher at Rs 88, but it too marked a decline compared to earlier highs, with a Subject to Sauda price of Rs 1,500.

Interestingly, both June 12 and June 11 saw the GMP at Rs 95, with an upward trend on both days. The Subject to Sauda price for those dates was consistent at Rs 1,200, indicating stronger market sentiment earlier in the week.

No Kostak rate (the fixed profit one could earn by selling IPO application rights) was reported for any of these days, suggesting limited grey market interest in that category. Overall, the GMP trend has cooled in recent days, likely reflecting shifting investor sentiment or demand-supply dynamics, as shown at IPO Watch website.

Oswal Pumps IPO Price Band

The IPO price band of Oswal Pumps has been established between Rs 584 and Rs 614 per share, aiming to raise a total of Rs 1,387 crore. Investors can submit bids for a minimum of 24 equity shares and in multiples of 24 shares thereafter.

Considering the upper end of the IPO price band and the current premium, the estimated listing price is Rs 659 per share, approximately 7.33% higher than the IPO price of Rs 614. The minimum GMP observed in the last ten sessions was Rs 0.00, and the maximum was Rs 88, suggesting an upward trend and a potentially robust listing.

Oswal Pumps IPO Allotment Schedule

The basis of allotment is expected to be determined on Wednesday, June 18, with refunds starting on Thursday, June 19, and shares being credited to demat accounts on the same day. The shares are anticipated to be listed on BSE and NSE on Friday, June 20.

About IPO Company

Oswal Pumps specialises in manufacturing solar-powered and grid-connected submersible and monoblock pumps, as well as electric motors and solar modules, marketed under the 'Oswal' brand. With over 22 years in the field, the company has gained extensive expertise in engineering, product design, manufacturing, and testing.

The company operates two manufacturing facilities, both located at Karnal in Haryana. Both facilities are operated 24 hours a day for six days a week, except on national holidays.

Disclaimer

The information provided above is for informational purposes only and is not promotional content. It does not constitute financial advice and should not be considered a recommendation for any investment or spending decisions. Neither the author nor Greynium Information Technologies shall be held liable for any losses incurred as a result of decisions based on this write-up.