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Oswal Pumps IPO: The initial public offering (IPO) of Oswal Pumps Ltd, a manufacturer of solar pumps, opened on June 13 and has witnessed an underwhelming subscription on the second day of the bidding process so far. The overall subscription of the public issue stood at 81 percent of the total shares reserved for investors as of Monday, June 16.
Oswal Pumps IPO Day 2 Subscription Status
As of 12:39 pm on Monday, the IPO had received bids for a total of 1,31,09,904 shares against 1,62,12,980 shares, according to BSE data.
Among the investor categories, non-institutional investors (NIIs) showed the highest interest, subscribing for 63,67,176 shares against the 35,00,959 shares reserved for them. On the other hand, qualified institutional buyers (QIBs) showed the least interest, subscribing for only 10 percent—or 4,44,216 shares—of the 45,43,116 shares allocated to the category.
Meanwhile, retail investors submitted bids for 62,98,512 shares, or 77 percent, against the 81,68,905 shares reserved for this segment.
(This story will be updated shortly.)
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