Kolkata: The sliding grey market premium (GMP) of Oswal Pumps IPO reversed the direction and began climbing again. On June 16, the GMP stood at Rs 56. The process of application for shares will come to a close today, June 17. While the rising GMP will be a comfort for those planning to apply, it needs to be mentioned that prominent mutual funds such as ICICI Prudential MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant MF and Societe Generale, Edelweiss Life Insurance, BNP Paribas picked up shares worth as much as Rs 416.2 crore as anchor investors.
Oswal Pumps IPO GMP
Oswal Pumps IPO GMP showed interesting movement. While the GMP which has declined steadily between May 11 and May 14 and fell from Rs 88 to Rs 43 it rose from that level to Rs 45 on June 15 and then crept up to Rs 56 on June 16. At the current level, it indicates a listing gain of 9.12%. However, it must be borne in mind that GMP is only an unofficial gauge that changes with time. Also, guarantees nothing and can change with time.
Oswal Pumps IPO details and dates
The issue of Oswal Pumps has been designed to raise Rs 1,387.34 crores. It consists of fresh shares numbering 1.45 crore and an OFS part of 0.81 crore shares. The price band for Oswal Pumps IPO is Rs 584-614. Retail investors have to cough up an application money of Rs 14,736 — the cost of the minimum investible lot of 24 shares. For HNIs, the minimum lot has 336 shares and they will need to pay at least Rs 2,06,304 at the upper price level.
The date of listing of Oswal Pumps IPO shares is June 20 while refund of application money will be on June 19. Successful bidders will be credited shares on June 19. Oswal Pumps manufactures pumps that have applications in the domestic, agricultural and industrial sectors. It manufactures a wide array of solar pumps, submersible pumps, monoblock pumps, pressure pumps, sewage pumps, electric motors, submersible winding wires, cables and electric panels.
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Despite the dipping GMP till June 14, Oswal Pumps IPO was subscribed 1.65 times by the evening of June 16. The retail portion was subscribed 1.16 times, QIB 0.27 times, NII category 4.65 times — overall 1.65 times. The issue closes today June 17. The GMP stood at Rs 56 on June 16, the penultimate day of closing. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
