Oswal Pumps Limited Raises ₹1,694 Crore Through IPO; JSA Advises Lead Managers
In a key capital markets development, Oswal Pumps Limited has successfully completed its Initial Public Offering (IPO), raising approximately ₹1,694 crore, which includes a secondary share sale of ₹300 crore by the Promoter Selling Shareholder. The offering drew significant institutional interest, with equity shares commencing trading on the stock exchanges on June 20, 2025.
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JSA Advocates and Solicitors acted as legal counsel to the book-running lead managers (BRLMs):
IIFL Capital Services Limited (formerly IIFL Securities Limited)
Axis Capital Limited
CLSA India Private Limited
JM Financial Limited
Nuvama Wealth Management Limited
The prospectus for the offering was filed on June 17, 2025.
IPO Overview and Market Significance
Oswal Pumps’ IPO marks an important milestone for the company as it seeks to enhance its manufacturing capacity, support working capital needs, and further its growth in the water management and pumping systems industry. Known for its presence in the domestic and agricultural pump segments, Oswal’s move into the public markets aligns with a broader trend of mid-sized industrial and infrastructure companies tapping into capital markets.
The total IPO size of ₹1,694 crore includes a fresh issue component as well as an offer for sale (OFS) by existing shareholders, reflecting both capital raising and partial promoter exit.
JSA’s Role and Deal Team Details
JSA, a leading Indian law firm, provided legal counsel to the syndicate of book-running lead managers. The firm’s scope of work included drafting and reviewing the offer documents, ensuring compliance with SEBI regulations and applicable corporate laws, and supporting regulatory filings and due diligence.
The JSA team advising on this transaction was led by:
Arka Mookerjee – Lead Partner
Pracheta Bhattacharya – Partner
Anshu Bansal – Partner
Supporting the lead team were:
Ananth Balaji – Principal Associate
Govind Roy – Senior Associate
Ayushi Pandit – Associate
Aditi Khandal – Associate
Ritu R Jaiswal – Associate
Vaishnavi Kokkonda – Associate
Their work was instrumental in facilitating the timely launch and listing of the IPO.
Sector Context: Manufacturing and Infrastructure in Focus
The IPO comes at a time when India’s manufacturing and water infrastructure sectors are receiving increased policy and investor attention. With initiatives like “Make in India” and government-backed rural water supply schemes, companies like Oswal Pumps are strategically positioned for growth.
Market observers note that investor appetite for mid-cap industrial IPOs has grown in 2025, especially those with strong domestic manufacturing bases and export potential.
Looking Ahead
Oswal Pumps’ successful listing adds to the momentum in the primary markets this year. The deal also highlights the role of experienced legal and financial advisors in executing complex IPOs across regulatory and operational timelines.
With a diversified product portfolio and expanding footprint, Oswal Pumps is expected to leverage the IPO proceeds to scale operations, strengthen supply chains, and pursue new market opportunities.
The ₹1,694 crore IPO of Oswal Pumps Limited underscores continued strength in India’s capital markets and investor interest in core industrial sectors. With JSA advising the lead managers and a multi-institution syndicate facilitating the offer, the transaction stands out as a well-coordinated capital markets initiative.
Also Read: Khaitan & Co Advises TVS Capital on INR 475 Crore Series A Investment in Saarathi Finance
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
