The ₹1,387 crore initial public offering (IPO) of Oswal Pumps Ltd.—a rapidly expanding solar pump manufacturer in India—garnered a full subscription by the second day of bidding. As of 14:15 on Monday, bids had been placed for 1.75 crore equity shares against 1.62 crore on offer, translating into an overall subscription rate of 1.08x. The offering saw robust traction from non-institutional investors (NIIs), who oversubscribed their allocated quota by 2.62 times. Retail individual investors (RIIs) followed, subscribing to 89% of their portion. In contrast, qualified institutional buyers (QIBs) showed limited engagement, covering just 24% of their reserved share.