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.

Oswal Pumps Ltd launched its initial public offering (IPO) on June 13, with the subscription period open through June 17. Ahead of the launch, the company raised ₹416.2 crore (~$50 million) from anchor investors. The allocation included investments from major domestic asset managers, ICICI Prudential MF, Kotak MF, Aditya Birla MF, as well as international players such as BNP Paribas $BNPQY, Societe Generale $SGE.F, and Amundi $AMUN.PA. The anchor book was fully subscribed, signaling institutional confidence in Oswal Pumps’ fundamentals, ahead of its listing on the Bombay Stock Exchange (BSE).