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Prince Pipes IPO is a book build issue of ₹500.00 crores. The issue is a combination of fresh issue of 1.40 crore shares aggregating to ₹250.00 crores and offer for sale of 1.40 crore shares aggregating to ₹250.00 crores.
Prince Pipes IPO bidding started from Dec 18, 2019 and ended on Dec 20, 2019. The allotment for Prince Pipes IPO was finalized on Dec 26, 2019. The shares got listed on BSE, NSE on Dec 30, 2019.
Prince Pipes IPO price band is set at ₹178.00 per share . The lot size for an application is 84. The minimum amount of investment required by an retail is ₹14,868 (84 shares). The lot size investment for sNII is 14 lots (1,176 shares), amounting to ₹2,09,328, and for bNII, it is 67 lots (5,628 shares), amounting to ₹10,01,784.
Edelweiss Financial Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Prince Pipes IPO RHP for detailed Information.
| IPO Date | December 18, 2019 to December 20, 2019 |
| Listing Date | December 30, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹177 to ₹178 per share |
| Issue Price Final | ₹178 per share |
| Lot Size | 84 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,80,89,885 shares (aggregating up to ₹500.00 Cr) |
| Fresh Issue | 1,40,44,943 shares (aggregating up to ₹250.00 Cr) |
| Offer for Sale | 1,40,44,942 shares of ₹10 (aggregating up to ₹250.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,59,80,816 shares |
| Share Holding Post Issue | 11,00,25,759 shares |
Prince Pipes IPO offers total 2,80,89,885 shares. Out of which 1,40,44,942 (50.00%) allocated to QIB, 56,17,977 (20.00%) allocated to QIB, 42,13,483 (15.00%) allocated to NII, 98,31,460 (35.00%) allocated to RII and 84,26,965 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,40,44,942 (50.00%) | NA |
| − Anchor Investor Shares Offered | 84,26,965 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 56,17,977 (20.00%) | NA |
| NII (HNI) Shares Offered | 42,13,483 (15.00%) | NA |
| Retail Shares Offered | 98,31,460 (35.00%) | 1,17,041 |
| Total Shares Offered | 2,80,89,885 (100.00%) |
Prince Pipes IPO opens on December 18, 2019, and closes on December 20, 2019.
| IPO Open Date | Wed, Dec 18, 2019 |
| IPO Close Date | Fri, Dec 20, 2019 |
| Tentative Allotment | Thu, Dec 26, 2019 |
| Initiation of Refunds | Fri, Dec 27, 2019 |
| Credit of Shares to Demat | Mon, Dec 30, 2019 |
| Tentative Listing Date | Mon, Dec 30, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 20, 2019 |
Investors can bid for a minimum of 84 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 | 84 | ₹14,952 |
| Retail (Max) | 13 | 1,092 | ₹1,94,376 |
| S-HNI (Min) | 14 | 1,176 | ₹2,09,328 |
| S-HNI (Max) | 66 | 5,544 | ₹9,86,832 |
| B-HNI (Min) | 67 | 5,628 | ₹10,01,784 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1987, Mumbai based Prince Pipes and Fittings Limited is engaged in manufacturing of polymer pipes and fittings. The company produces four types of polymer pipes including CPVC, UPVC, HDPE, PPR and three different polymer fitting types CPVC, PPR, and UPVC. It is operating in the polymer pipe segment under two brand names; which are Trubore and Prince Piping Systems. The company has a corporate office in Mumbai and a strong presence across North, South and West India.
Prince Pipes provides an end to end solutions across a wide product range (7,480 SKUs as on 30th June 2018). It has 5 manufacturing units located at Haridwar (Uttarakhand), Athal (Dadra and Nagar Haveli), Dadra (Dadra and Nagar Haveli), Kolhapur (Maharashtra) and Chennai (Tamil Nadu). Besides, two contract manufacturing units are located at Hajipur (Bihar) and Aurangabad (Maharashtra).
The company is also planning to open two manufacturing units at Jobner (Rajasthan) and Sangareddy (Telangana). Prince Pipes and Fittings Ltd has 10 warehouses to store the products. The company sells the products under Prince Piping Systems brand name to 843 distributors which further sell them to wholesalers, retailers and plumbers. The products under Trubore are directly sold to 212 wholesalers and retailers.
Competitive Strengths
| Particulars | For the year/period ended (Rs in Millions) | ||||
|---|---|---|---|---|---|
| Three months period ended on 30-June-2019 |
31-Mar-19 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 10,144.57 | 10,404.13 | 9,798.77 | 7,605.05 | 6,533.00 |
| Total Revenue | 3,801.92 | 15,789.95 | 13,265.71 | 13,324.95 | 10,816.18 |
| Profit After Tax | 266.69 | 833.51 | 727.66 | 741.82 | 295.35 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 18.35 |
The Company Prince Pipes IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Repayment or prepayment, in full or part, of certain outstanding loans of our Company | 10.00 |
| 2 | Financing the project cost towards establishment of a new manufacturing facility | 159.00 |
| 3 | Upgradation of equipment atour manufacturing facilities | 49.10 |
| 4 | General corporate purposes | 19.01 |
[Dilip Davda] In the light of tough competition from major players as well as unorganized sectors, PPFL is witnessing pressure on margins. Considering prospects for polymer piping segment going forward, cash surplus - risk savvy investors may consider investment on their own risks. Read detail review...
Note:
| Listing Date | December 30, 2019 |
| BSE Script Code | 542907 |
| NSE Symbol | PRINCEPIPE |
| ISIN | INE689W01016 |
| Final Issue Price | ₹178 per share |
| BSE Listing Group | B |
Prince Pipes & Fittings Ltd.
Plot No.1, Honda Industrial Estate,
Phase II, Honda Sattari,
Honda
North Goa, Goa, 403530
Phone: +91 22 66022222
Email: investor@princepipes.com
Website: https://princepipes.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: princepipes.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Prince Pipes IPO is a main-board IPO of 2,80,89,885 equity shares of the face value of ₹10 aggregating up to ₹500.00 Crores. The issue is priced at ₹178 per share. The minimum order quantity is 84.
The IPO opens on December 18, 2019, and closes on December 20, 2019.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Prince Pipes IPO using UPI as a payment gateway. Zerodha customers can apply in Prince Pipes IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Prince Pipes IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Prince Pipes IPO opens on December 18, 2019 and closes on December 20, 2019.
Prince Pipes IPO lot size is 84, and the minimum amount required for application is ₹14,952.
You can apply in Prince 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 Prince Pipes IPO will be done on Thursday, December 26, 2019, and the allotted shares will be credited to your demat account by Monday, December 30, 2019. Check the Prince Pipes IPO allotment status.
The Prince Pipes IPO listing date is on Monday, December 30, 2019.
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