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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 ₹89.00 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). The minimum lot size investment for 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 Date | December 26, 2023 to December 28, 2023 |
| Listing Date | January 2, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹89 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 16,88,000 shares (aggregating up to ₹15.02 Cr) |
| Reserved for Market Maker | 84,800 shares Shreni Shares Ltd. (aggregating up to ₹0.7547 Cr) |
| Net Offered to Public | 16,03,200 shares (aggregating up to ₹14.27 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 46,75,000 shares |
| Share Holding Post Issue | 63,63,000 shares |
AIK Pipes And Polymers IPO offers total 16,88,000 shares. Out of which 8,01,600 (47.49%) allocated to NII, 8,01,600 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 84,800 (5.02%) |
| NII (HNI) Shares Offered | 8,01,600 (47.49%) |
| Retail Shares Offered | 8,01,600 (47.49%) |
| Total Shares Offered | 16,88,000 (100.00%) |
AIK Pipes IPO opens on December 26, 2023, and closes on December 28, 2023.
| IPO Open Date | Tue, Dec 26, 2023 |
| IPO Close Date | Thu, Dec 28, 2023 |
| Tentative Allotment | Fri, Dec 29, 2023 |
| Initiation of Refunds | Mon, Jan 1, 2024 |
| Credit of Shares to Demat | Mon, Jan 1, 2024 |
| Tentative Listing Date | Tue, Jan 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Dec 28, 2023 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
AIK Pipes And Polymers Limited's revenue increased by 47.21% and profit after tax (PAT) rose by 113.58% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,638.56 | 1,450.50 | 968.13 | 739.75 |
| Total Income | 1,400.42 | 3,077.92 | 2,090.84 | 1,020.54 |
| Profit After Tax | 101.97 | 187.74 | 87.90 | 26.99 |
| Net Worth | 662.47 | 560.50 | 202.76 | 84.86 |
| Reserves and Surplus | 194.97 | 433.00 | 132.76 | 44.86 |
| Total Borrowing | 429.91 | 538.09 | 432.17 | 382.88 |
| Amount in ₹ Lakhs | ||||
The market capitalization of AIK Pipes IPO is ₹56.63 Cr.
| KPI | Values |
|---|---|
| ROE | 49.19% |
| ROCE | 17.90% |
| Debt/Equity | 0.96 |
| RoNW | 33.50 |
The Net Proceeds from the Fresh Issue will be utilized towards the following objects:
[Dilip Davda] The company is in the business of manufacturing HDPE/MDPE pipes. It marked constant growth in its top and bottom lines for the reported periods, but the margins posted raises eyebrows. Amidst rising competition, sustaining such margins raise concerns. Based on FY24 annualized super earnings, the issue appears fully priced. The small paid-up equity capital post-IPO indicates longer gestation period for migration to mainboard. Well-informed investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | January 2, 2024 |
| BSE Script Code | 544072 |
| NSE Symbol | |
| ISIN | INE0QFT01015 |
| Final Issue Price | ₹89 per share |
| BSE Listing Group | ST |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹89.00 |
| Open | ₹100.00 |
| Low | ₹100.00 |
| High | ₹105.00 |
| Last Trade | ₹105.00 |
AIK Pipes & Polymers Ltd.
F-9 Vinayak Enclave,
Vaishali Nagar
Jaipur 302021
Jaipur, Rajasthan
Phone: +91-9672749800
Email: info@aikpipes.com
Website: https://www.aikpipes.com/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
AIK Pipes IPO is a SME IPO of 16,88,000 equity shares of the face value of ₹10 aggregating up to ₹15.02 Crores. The issue is priced at ₹89 per share. The minimum order quantity is 1600.
The IPO opens on December 26, 2023, and closes on December 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 December 26, 2023 and closes on December 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 Monday, January 1, 2024. Check the AIK Pipes IPO allotment status.
The AIK Pipes IPO listing date is on Tuesday, January 2, 2024.
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