Oswal Pumps' IPO worth Rs 1387.34 crore is currently open for subscription with a price band of Rs 584 to Rs 614 per share.
As of the third day, the IPO has been subscribed 2.42 times with a grey market premium of Rs 57, indicating a potential listing at Rs 671 per share.
The IPO includes a fresh issue and an offer for sale, with funds intended for Oswal Solar's new manufacturing unit and repayment of borrowings.
Oswal Pumps manufactures solar-powered submersible pumps, electric motors, and solar modules for various applications.
Subscription status on day three: Qualified institutional buyers at 0.29 times, non-institutional investors at 7.68 times, and retail investors at 1.35 times.
Grey Market Price (GMP) is Rs 57, but it's a speculative figure and not an official quote for the stock.