Plastic pipe manufacturer Malpani Pipes and Fittings Ltd. which launched its initial public offering to raise Rs 25.92 crore from the primary markets on Jan. 29, was fully subscribed on Wednesday.

The SME IPO was booked 7.91 times led by demand from retail investors. The subscription period will end on Jan. 31.

Malpani Pipes IPO is a book-built issue of Rs 25.92 crore. The issue is entirely a fresh issue of 28.80 lakh shares.

Here’s all you need to know about Malpani Pipes And Fittings Limited IPO as bidding on day 2 resumes.

Malpani Pipes And Fittings IPO: All You Need To Know

The price band of Malpani Pipes And Fittings IPO is set at Rs 85 to Rs 90 apiece. The offer size is valued at Rs 25.92 crore at the upper price band. 

Investors may submit their bids with a minimum lot size of 1600 shares, resulting in an investment of Rs 1.44 lakh. 

As per the company’s RHP document, of the 28,80,000 shares offered –

  • 5,58,400 (19.39%) is reserved for Qualified Institutions

  • 4,16,000 (14.44%) is reserved for Non-institutional Investors

  • 9,60,000 (33.33%) is reserved for Retail Investors

  • 8,00,000 (27.78%) is reserved for Anchor investors

The allotment for Malpani Pipes and Fittings Ltd. is expected to be finalised 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 And Fittings IPO Day 2 Subscription Status

The Malpani Pipes IPO has been subscribed 12.17 times as of 10:49 a.m. on Thursday, as per market tracking site Chittorgarh.

  • Qualified Institutions: 0.02 times

  • Non-institutional Investors: 11.58 times

  • Retail Investors: 19.49 times

*The subscription status will be updated at regular intervals.

What is Malpani Pipes And Fittings IPO GMP Today

The latest grey market premium of Malpani Pipes IPO is Rs 27 at 8:53 a.m. on Jan. 30, marking a premium of over 30% over the issue price. According to InvestorGain, the unlisted shares of Malpani Pipes and Fittings Ltd. could debut at Rs 117 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 IPO: 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. 

About Malpani Pipes And Fittings Limited

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.

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.The latest grey market premium of Malpani Pipes IPO is Rs 27 on Jan. 30, marking a premium of over 30% over the issue price  Read MoreIPOs, Trending 

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