New Delhi, June 10 (IANS) Oswal Pumps Limited’s total expenses increased by 23.83 per cent to Rs 781.82 crore in the first nine months of FY25, from Rs 631.35 crore in the entire FY24, according to the information given in the company’s Red Herring Prospectus (RHP).

The company’s expenses as well as profits, and income also saw an increase during the review period.

According to the company’s RHP, the company’s total income in the April-December period of FY25 was Rs 1,067.34 crore, as against Rs 761.23 crore in the entire FY24.

At the same time, the company has made a profit of Rs 216.70 crore in the first nine months of FY25, as against Rs 97.66 crore in FY24.

The Haryana-based manufacturer of water and solar pumping systems has set the price band for its upcoming Rs 1,387.34 crore initial public offering (IPO) at Rs 584-614 per share, as it prepares to open the public issue for investors on June 13.

The IPO comprises a fresh issue of Rs 890 crore and an offer for sale (OFS) worth Rs 497.34 crore by promoter Vivek Gupta. It will close on June 17, with shares tentatively scheduled to list on June 20 on both the BSE and the NSE.

The IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional Institutional Investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.

The company had fulfilled 38,132 turnkey solar pumping system orders under the PM Kusum Scheme in states such as Haryana, Rajasthan, Uttar Pradesh, and Maharashtra (as of December 31, 2024).

–IANS

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