Fixed Price IPO | ₹15 Cr | Listed at BSE SME | Tue, Dec 26, 2023 - Thu, Dec 28, 2023
AIK Pipes IPO is a fixed price issue of ₹15.02 crores. The issue is entirely a fresh issue of 0.17 crore shares of ₹15.02 crore.
AIK Pipes IPO bidding started from Dec 26, 2023 and ended on Dec 28, 2023. The allotment for AIK Pipes IPO was finalized on Dec 29, 2023. The shares got listed on BSE SME on Jan 2, 2024.
AIK Pipes IPO price is ₹89 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,42,400 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,84,800.
Shreni Shares Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd..
Refer to AIK Pipes IPO RHP for detailed Information.
IPO Open
Tue, Dec 26, 2023
IPO Close
Thu, Dec 28, 2023
Issue Price
₹89 per share
Market Cap (Pre-IPO)
₹56.63 Cr
| IPO Date | 26 to 28 Dec, 2023 |
| Listed on | Tue, Jan 2, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹89 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 16,88,000 shares (agg. up to ₹15 Cr) |
| Reserved for Market Maker | 84,800 shares Shreni Shares Ltd. (agg. up to ₹0.7547 Cr) |
| Fresh Issue (Ex Market Maker) | 16,03,200 shares (agg. up to ₹14 Cr) |
| Net Offered to Public | 16,03,200 shares (agg. up to ₹14 Cr) |
| Share Holding Pre Issue | 46,75,000 shares |
| Share Holding Post Issue | 63,63,000 shares |
| BSE Script Code | 544072 |
| ISIN | INE0QFT01015 |
AIK Pipes IPO comprises a total issue size of 16,88,000 shares. The net offer to the public is 16,03,200 shares, after excluding 84,800 shares allotted on a firm basis. Of the Net offer 8,01,600 (50.00%) allocated to NII 8,01,600 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 8,01,600 | 50.00% | 47.49% |
| Retail Shares Offered | 8,01,600 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 84,800 | 5.02% | |
| Total Shares Offered | 16,88,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,42,400 |
| Retail (Max) | 1 | 1,600 | ₹1,42,400 |
| HNI (Min) | 2 | 3,200 | ₹2,84,800 |
Founded in 2017, AIK Pipes and Polymers Limited manufactures pipes, HDPE fittings, MDPE pipes and PPR pipes for the water distribution, gas transmission, sewerage systems, and telecommunication sectors.
The company has 3 manufacturing facilities in Jaipur, Rajasthan which are operated on a lease basis.
The company has a competent team of engineers, technicians and operators who play an important role in the production and quality control of the products.
These products are approved by several authorities including the Bureau of Indian Standards (BIS), Central Institute of Petrochemicals Engineering and Technology, Indian Oil Corporation and GAIL.
AIK Pipes is registered with the Government of Rajasthan as a supplier of water supply and sewerage management.
As of June 30, 2023, the company recorded a total income of Rs. 1400.42 lakhs and an adjusted profit after tax of Rs. 101.97 lakhs.
The company is an ISO 9001:2015 certified company. As of June 30, 2023, the company had 23 employees on its payroll.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 16.39 | 14.51 | 9.68 | 7.40 |
| Total Income | 14.00 | 30.78 | 20.91 | 10.21 |
| Profit After Tax | 1.02 | 1.88 | 0.88 | 0.27 |
| NET Worth | 6.62 | 5.61 | 2.03 | 0.85 |
| Reserves and Surplus | 1.95 | 4.33 | 1.33 | 0.45 |
| Total Borrowing | 4.30 | 5.38 | 4.32 | 3.83 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Meet the Capital Expenditure | 1.03 |
| 2 | To Meet Working Capital Requirement | 9.00 |
| 3 | General Corporate Expense | 2.99 |
| KPI | |
|---|---|
| ROE | 49.19% |
| ROCE | 17.90% |
| Debt/Equity | 0.96 |
| RoNW | 33.50 |
| PAT Margin | 6.16% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.13 | |
| P/E (x) | 21.54 | 13.88 |
| Promoter Holding | 100% | 73.47% |
| Market Cap | ₹56.63 Cr. |
The AIK Pipes IPO is subscribed 43.57 times on December 28, 2023 7:02:00 PM (Day 3). The public issue subscribed 30.93 times in the retail category, [.] times in the QIB category, and 52.17 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 52.17 | 8,01,600 | 4,18,19,200 |
| Retail | 30.93 | 8,01,600 | 2,47,96,800 |
| Total | 43.57 | 16,03,200 | 6,98,56,000 |
Total Applications: 18,333
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including underwriting commission | 0.25 |
| 2 | Brokerage, selling, commission and upload fees | 0.01 |
| 3 | Registrar to the issue | 0.01 |
| 4 | Legal Advisors | 0.03 |
| 5 | Advertising and Marketing expenses | 0.03 |
| 6 | Regulators including stock exchanges | 0.05 |
| 7 | Printing and distribution of issue stationery | 0.03 |
| 8 | Others, if any (market making, depositories, marketing fees, secretarial, advisors, consultancy, peer review auditors, etc.) | 1.60 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹89.00 |
| Open | ₹100.00 |
| Low | ₹100.00 |
| High | ₹105.00 |
| Last Trade | ₹105.00 |
Lead Manager Reports
AIK Pipes IPO is a SME IPO of 16,88,000 equity shares of the face value of ₹10 aggregating up to ₹15 Crores. The issue is priced at ₹89 per share. The minimum order quantity is 1600.
The IPO opens on Tue, Dec 26, 2023, and closes on Thu, Dec 28, 2023.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in AIK Pipes IPO using UPI as a payment gateway. Zerodha customers can apply in AIK Pipes IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in AIK Pipes IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The AIK Pipes IPO opens on Tue, Dec 26, 2023 and closes on Thu, Dec 28, 2023.
AIK Pipes IPO lot size is 1600, and the minimum amount required for application is ₹1,42,400.
You can apply in AIK Pipes IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for AIK Pipes IPO will be done on Friday, December 29, 2023, and the allotted shares will be credited to your demat account by Mon, Jan 1, 2024. Check the AIK Pipes IPO allotment status.
The AIK Pipes IPO listing date is on Tue, Jan 2, 2024.
