Oswal Pumps’ ₹1,387 crore IPO has garnered solid investor interest, achieving full subscription on Day 2, June 16, 2025. The issue, priced in the range of ₹584–₹614 per share, received bids for over 1.75 crore shares, largely driven by enthusiastic participation from retail and non-institutional investors (NIIs). While the NII category was subscribed 1.80 times, retail investors followed closely at 77%. In contrast, qualified institutional buyers (QIBs) showed tepid interest with just 10% subscription so far. The grey market premium (GMP), an unofficial indicator of listing expectations, saw a rebound to ₹57 after dipping earlier, reflecting renewed optimism among traders. The IPO, open for subscription from June 13 to June 17, allows a minimum application of 24 shares and multiples thereafter. Founded in 2003, Oswal Pumps specializes in low-speed monoblock and submersible pumps, serving the agricultural and industrial sectors. Despite early concerns over demand, the issue’s momentum picked up on Day 2, helped by high-net-worth individuals (HNIs) and strong retail traction. Should you subscribe? With improving GMP, robust brand presence in pumps, and growing rural demand, Oswal Pumps shows long-term potential. However, cautious investors may wait for QIB participation before committing.

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