S&R Associates served as legal counsel to Oswal Pumps Limited, a vertically integrated solar pump manufacturer, and its promoter selling shareholder, Vivek Gupta, on the company’s initial public offering (IPO).
The firm’s responsibilities included:
- Due Diligence: Reviewing corporate records, contracts, financial statements, and compliance documents.
- Documentation: Drafting and negotiating the offer agreement, prospectus disclosures, and underwriting arrangements.
- Regulatory Approvals: Coordinating filings and securing approvals from the Securities and Exchange Board of India (SEBI) and relevant stock exchanges.
- Structuring Advice: Advising on issue pricing, allocation strategy, and lock-in obligations for promoters.
The S&R deal team was led by Partner Juhi Singh and Counsel Shiv Bhargava, supported by Associates Ayushi Shrivastava, Nidhi Raj, and Utkarsh Mani Tripathi.
Also read: TT&A Advises Lead Managers on Capri Global Capital’s ₹2,000 Crore QIP
Deal Overview
| Feature | Details |
|---|---|
| Issuer | Oswal Pumps Limited |
| Promoter Seller | Vivek Gupta |
| Transaction Type | Initial Public Offering (IPO) |
| Sector | Solar Pump Manufacturing |
| Issue Size | ₹1,387 crore |
| Equity Shares | [Number of shares—refer offer document] |
| Issue Price | [Price per share—refer offer document] |
| Status | Completed; shares listed on BSE & NSE |
| Regulatory Approvals | SEBI; BSE; NSE |
Strategic Significance
This IPO marks a milestone for Oswal Pumps Limited, enabling it to raise substantial capital to expand manufacturing capacity, fund research and development of next-generation solar pumping solutions, and reduce promoter leverage. As a key player in India’s push for renewable energy and water management, Oswal Pumps can now accelerate its growth trajectory, enhance distribution networks, and strengthen its competitive position.
Why It Matters
For legal professionals, the transaction underscores the importance of rigorous due diligence and clear prospectus drafting in capital market offerings. It also highlights the growing investor interest in renewable energy infrastructure within India. Business leaders can view this IPO as a bellwether for the broader clean-tech sector’s ability to access public equity markets, potentially encouraging similar listings in adjacent green technology segments.
Also read: Oswal Pumps Launches ₹1,694 Crore IPO; JSA Advises Book Running Lead Managers
