Priyanka Tiwari
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Suspense crime, Digital Desk : Oswal Pumps Limited, a manufacturer specializing in a variety of pumps, has opened its Initial Public Offering (IPO) for subscription today, June 13. The company aims to raise approximately ₹56.71 crore through this public issue, which will be listed on the National Stock Exchange's Small and Medium Enterprises (SME) platform. The offer will remain open for investors until Tuesday, June 18.
Key Offer Details:
The IPO is a fixed-price issue, with each share priced at ₹137. Investors looking to subscribe must apply in lots, with a single lot consisting of 1,000 shares. This sets the minimum investment amount for retail investors at ₹1,37,000. The entire public offer consists of a fresh issue of 4,140,000 equity shares, meaning the capital raised will go directly to the company.
Market Sentiment and Grey Market Premium (GMP):
Ahead of its market debut, Oswal Pumps is generating positive buzz in the grey market, an unofficial indicator of listing day performance. The Grey Market Premium (GMP) is currently reported to be around ₹30 per share.
This suggests that the market expects the shares to list at approximately ₹167 (₹137 issue price + ₹30 GMP), which would represent a potential listing premium of nearly 22% over the offer price.
Company and Use of Funds:
Oswal Pumps is engaged in the business of manufacturing solar pumps, submersible pumps, and monoblock pumps. According to the company's prospectus, the funds raised from the IPO will be primarily utilized to meet its working capital requirements and for general corporate purposes to support its business operations.
