Prince Pipes and Fitting Ltd IPO

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Prince Pipes and Fitting Ltd IPO
  • The company is making consistent profits.
  • Diverse product portfolio
  • Strong distributor network.
  • Operates in a robust domestic market.
  • Strong Brand Equity and Brand Awareness.

Prince Pipes and Fittings will open its initial public offering (IPO) on December 18 and have fixed a price band of Rs 177-178 per share. The Rs 500-crore IPO includes the issuance of shares worth Rs 250 crore and an offer for sale of Rs 250 crore. The issue will open on December 18 & close on December 20.

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The details of utilization of the proceeds of the Fresh Issue are summarized below (source: Moneycontrol)

  • Repayment or prepayment of certain outstanding loans of the company;
  • Financing the project cost towards the establishment of a new manufacturing facility;
  • Upgradation of equipment at the manufacturing facilities; and
  • General corporate purposes, subject to the applicable laws.

Overview

Prince Pipes and Fittings. Ltd is a well-known, leading manufacturer of pipes and fittings in India in terms of the number of distributors with over 30 years of industry experience. The company markets its products under two brand names: Prince Piping Systems and Trubore. The products have varied applications in plumbing, irrigation, and soil, waste and rainwater management.

Promoters of Prince Pipes

The Promoter of Prince Pipes company is Jayant Shamji Chheda, Tarla Jayant Chheda, Vipul Jayant Chheda & Heena Parag Chheda, Parag Jayant Chheda.

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Prince Pipes & Fitting Ltd IPO Offer

Issue Structure

Prince Pipes and Fittings Ltd.’s net issue size is Rs. 500 crore. Out of the issue size of Rs 500 crore, Rs 250 crore will be raised as Fresh Issue and the remaining Rs 250 crore will be raised as Offer for Sale The minimum bid lot size is of 84 equity shares.

Share Holding Pattern

Prince Pipes and Fittings Ltd. Pre & Post IPO Shareholding Pattern in (%).
 PrePost
Promoter9065.8
Public1034.2
Total100100

IPO Issue Structure

Fresh issue50.0%
Offer for Sale50.0%

No. of Shares on Offer

CategoryNo. of shares offered% Shares offered
QIB1404494450 %
Non Institutional Bidders421348315%
Retail983146035%
Total28089887100%
35% of the issue is reserved for retail investors in Prince Pipes and Fitting Ltd IPO.

Minimum & Maximum Lot Size for Retail

Prince Pipes IPO Lot Size along with Price details for the retail investors.
ApplicationLotsShares
Minimum184
Maximum131092
Total280898871

Important Date of Prince Pipes IPO

 Price Band announced2019-12-13
Bid/Offer Opening Date2019-12-18
Bid/Offer Closing Date2019-12-20
Finalisation of Basis of Allotment2019-12-26
Initiation of Refunds2019-12-27
Shares Credit to Demat Account2019-12-30
Listing on NSE & BSE2019-12-31

IPO Allotment Status

You can directly check Prince Pipes and Fitting Ltd IPO allotment status on the Link Intime registrar website. You can check the allocation status just by entering the PAN or App. No. or DP/Client ID.

Prince Pipes and Fittings IPO Summary

Subscription Dates18 - 20 December 2019
Issue TypeBook Built Issue IPO
Issue PriceINR177 - 178 per share
Fresh issueINR250  crore
Offer For SaleINR250 crore
Total IPO sizeINR 500 crore
Minimum bid (lot size)84 shares
Face Value INR10 per share
Retail Allocation0.35
Listing OnNSE, BSE
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Financial Statements

ParticularsFY 2017FY 2018FY 2019Q1 FY 2020
Expenses1236.61231.41467.5346.3
Net income73.173.383.226.9
Net margin5.5 %5.5 %5.3%7.1%
Revenue1332.51326.61579380.2

Prince Pipes IPO Valuation

Post issue on the expanded shareholding, the valuation works to 23.41X to 23.54X the Earning Per Share.

On FY21 basis, the stock is trading at 16X Price Earning multiple. It’s recommended to subscribe for listing gains.

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