Oswal Pumps Ltd Company Summary

Oswal Pumps Ltd Summary

Oswal Pumps Limited was incorporated on July 15, 2003 at New Delhi, India as Oswal Pumps Private Limited, a Private Company and was granted a Certificate of Incorporation by the RoC. The status then got converted into a Public Company upon the change in name to Oswal Pumps Limited and a fresh Certificate of Incorporation dated November 15, 2006 was issued by the RoC.The Company manufacture solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors as well as solar modules, which they sell under the Oswal brand. The operations are supported by two manufacturing plants in Karnal, Haryana. One facility is dedicated to production of pumps and motors, while the other in manufacturing solar modules.The Company began its operations in 2003 with the manufacturing of low-speed Monoblock Submersible Pumps. Over the years, it expanded the operations to manufacture grid-connected high-speed monoblock pumps, gridconnected submersible pumps and electric motors.The Company, in 2007, tookover the business of M/s Oswal Electricals (Pumps), from its sole proprietor, Padam Sain Gupta, the Promoter Group member. A new manufacturing plant was set up in Karnal, Haryana for pumps and electric motors in 2010. The Company started backward-integration for pumps in the Karnal facility for cast iron casting, automatic motor winding and lacing in 2011. It launched pure stainless steel fabricated pumps in 2012. Later, the Company formed a JV with Tata Power Solar Systems Limited and ventured into manufacturing and supply of solar pumps in 2019.The Company started offering turnkey solar pumping systems comprising solar powered agricultural pumps, solar modules, mounting structures, pump controllers and their installations in 2021. The Subsidiary, Oswal Solar Structure Private Limited was incorporated for manufacturing solar PV modules in 2022. The Associate, Walso Solar Solution Private Limited has been incorporated to manufacture solar structures and balance of system kits in 2024. The Company is planning an IPO by raising money from public aggregating to Rs 1000 Crore through Fresh Issue and by issuing upto 11,32,000 Equity Shares of Face Value Re 1/- each through Offer for Sale.