Hogan Lovells Advised On US$164 Million Initial Public Offering By Oswal Pumps Limited

Hogan Lovells Advised on US$164 Million Initial Public Offerin By Oswal Pumps Limited

Hogan Lovells advises on Oswal Pumps’ US$164 million IPO, strengthening its role in India’s solar pump manufacturing sector.g by Oswal Pumps Limited

The leading global law firm Hogan Lovells acted as US counsel to the book running lead managers on the US$164 million initial public offering (IPO) of Oswal Pumps Limited, a vertically integrated solar pump manufacturer in India.

The IPO was managed by IIFL Capital Services Limited, Axis Capital Limited, CLSA India Private Limited, JM Financial Limited, and Nuvama Wealth Management Limited. The public issue was subscribed 34.42 times overall, including 88.08 times in the QIB category and 36.70 times in the NII category, and was listed on BSE and NSE on June 20, 2025.

The Hogan Lovells Capital Markets team was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner), with support from Varun Jetly, Kaustubh George, Aditya Rajput, Sanjana Ravjiani, and Aditya Dsouza.

This transaction reflects Hogan Lovells’ significant experience in the India renewables and solar power sector, having advised on the IPOs of Waaree Energies, ACME Solar, and IREDA.

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