Plastic pipe manufacturer Malpani Pipes and Fittings Ltd. launched its initial public offering to raise Rs 25.92 crore from the primary markets on Jan. 29, Wednesday. The BSE SME IPO is an entirely fresh issuance of shares. Investors can place bids in the public offer by Jan. 31. Those looking to invest in Malpani Pipes IPO must check these key details before investing.
Malpani Pipes IPO: Key Details
Malpani Pipes IPO is a book-built issue consisting solely of a fresh issuance of 28.8 lakh shares at a price band of Rs 85 to Rs 90 apiece. The offer size is valued at Rs 25.92 crore at the upper price band.
The company has reserved 50% of the net issue size for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Investors may submit their bids with a minimum lot size of 1600 shares, resulting in an investment of Rs 1.44 lakh.
Malpani Pipes and Fittings Ltd. is expected to finalise the allotment of shares in the offer on Feb. 3 following the conclusion of the subscription process. Shares will be credited to the Demat account of successful bidders on Feb. 4 along with initiation of refunds for the non-allottees.
Malpani Pipes and Fittings Ltd. shares are proposed to be listed on the BSE SME platform on Wednesday, Feb. 5.
Interactive Financial Services Ltd. is the sole book-running lead manager of the Malpani Pipes IPO whereas Bigshare Services Pvt. is its registrar. The market maker for Malpani Pipes IPO is MNM Stock Broking Pvt.
Malpani Pipes IPO Day 1 Subscription Status
*The subscription status will be updated soon
Malpani Pipes IPO GMP Today
Malpani Pipes IPO has generated a strong buzz in the unlisted market on the opening day. The grey market premium on the company’s shares surged to Rs 28 as of 8:31 a.m. on Jan. 29, marking a premium of over 31% over the issue price. According to InvestorGain, shares of Malpani Pipes and Fittings Ltd. could make their market debut at Rs 118 apiece if the current GMP trends are sustained.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Malpani Pipes And Fittings: Business And Financials
Malpani Pipes And Fittings Ltd is a manufacturer of plastic pipes used for irrigation, water supply, sewerage, drainage, boreholes, tube wells, and infrastructure projects like electrical cable and optical fibre installations. The company sells its products under the Volstar brand. The company has a production capacity of 11,5000 metric tonnes per annum with a facility located in Madhya Pradesh’s Ratlam.
Use Of Proceeds
Malpani Pipes and Fittings Ltd. has proposed to use the net proceeds from the IPO to settle debts and fund capital expenditure on the purchase of machinery. A part of the money raised via the IPO will also be used for general corporate purposes.
Financials
Malpani Pipes and Fittings Ltd. posted revenue of Rs 84.55 crore with Rs 5.09-crore profit for the eight months ending Nov. 30. The company’s revenue grew 80% year-on-year to Rs 141.16 crore in FY24 in comparison to Rs 82.57 crore in FY23. Net profit during the period grew multifold to Rs 7.4 crore up from Rs 2.08 crore in FY23.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.Malpani Pipes and Fittings Ltd. shares are proposed to be listed on the BSE SME platform on Wednesday, Feb. 5. Read MoreIPOs
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