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It’s day 3 – the final lap of the Oswal Pumps IPO – and retail investors are showing up. The grey market premium (GMP) is holding firm at Rs 56-60, suggesting a nearly 9 per cent listing gain. But the elephant in the room? Qualified institutional buyers (QIBs) are still on the sidelines.
Will they join the party before the 5 pm bell?
IPO details and Day 3 status
- IPO price band: Rs 584-614 per share
- Issue size: Rs 1,387 crore (Rs 890 crore fresh + Rs 497 crore offer for sale)
- Lot size: 24 shares
- GMP today: Rs 56-60
- Estimated listing price: Rs 670-674
As of the latest data on Day 3:
- Retail: 0.7x
- NII: 3.27x
- QIB: 0.15x
- Overall subscription: 1.1x
Retail and HNI investors are piling in. But the QIB bucket is still under-subscribed, and that's what the Street is watching closely.
About the company
Oswal Pumps manufactures submersible and monoblock pumps, electric motors, and solar energy products. The company is a major player in the solar irrigation space, with 38% of India’s installed solar pump base. It also exports to 20+ countries and benefits from schemes like PM-KUSUM, which aims to solarise Indian farms.
Final word
Retail and HNI categories are oversubscribed for Oswal Pumps’ IPO, and the GMP is holding steady. All eyes are now on whether QIBs jump in before the 5 pm close. If they do, the listing could surprise on the upside. If they don’t, the stock may still list in the green, but without the momentum bulls were hoping for.
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
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