Oswal Pumps IPO, June 12 -- The public subscription for Oswal Pumps' initial share-sale will commence on June 13 and end on June 17. Oswal Pumps IPO price band has been set between Rs.584 and Rs.614 per share for its initial public offering (IPO) totaling Rs.1,387 crore.

This IPO includes a fresh issue of shares worth Rs.890 crore along with an offer-for-sale (OFS) of 81 lakh shares valued at Rs.497.34 crore, based on the upper price limit, by promoter Vivek Gupta. This brings the total issue amount to Rs.1,387.34 crore.

Funds raised from the fresh issue will be allocated for several capital expenditures; investing in the wholly-owned subsidiary Oswal Solar through debt or equity, establishing new manufacturing facilities in Karnal, Har...