Bookbuilding IPO | ₹500 Cr | Listed at BSE, NSE | Wed, Dec 18, 2019 - Fri, Dec 20, 2019
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 per share. The lot size for an application is 84. The minimum amount of investment required by an retail is ₹14,952 (84 shares) (based on upper price). 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 Open
Wed, Dec 18, 2019
IPO Close
Fri, Dec 20, 2019
Issue Price
₹178 per share
Market Cap (Pre-IPO)
₹1,958.46 Cr
| IPO Date | 18 to 20 Dec, 2019 |
| Listed on | Mon, Dec 30, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹177 to ₹178 |
| Issue Price | ₹178 per share |
| Lot Size | 84 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,80,89,885 shares (agg. up to ₹500 Cr) |
| Fresh Issue | 1,40,44,943 shares (agg. up to ₹250 Cr) |
| Offer for Sale | 1,40,44,942 shares of ₹10 (agg. up to ₹250 Cr) |
| Share Holding Pre Issue | 9,59,80,816 shares |
| Share Holding Post Issue | 11,00,25,759 shares |
| BSE Script Code / NSE Symbol | 542907 / PRINCEPIPE |
| ISIN | INE689W01016 |
Prince Pipes IPO comprises a total issue size of 2,80,89,885 shares. Out of which, 1,40,44,942 (50.00%) are allocated to QIB, 42,13,483 (15.00%) allocated to NII 98,31,460 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max 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% |
Investors can bid for a minimum of 84 shares and in multiples thereof.
| 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 |
Prince Pipes IPO raises ₹150.00 crore from anchor investors. Prince Pipes IPO Anchor bid date is December 17, 2019.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Dec 17, 2019 |
| Shares Offered | 84,26,965 |
| Anchor Portion (₹ Cr.) | 150.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jan 25, 2020 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Mar 25, 2020 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 18.35 | |
| Promoter Holding | 90.06% | 65.80% |
| Market Cap | ₹1,958.46 Cr. |
The Prince Pipes IPO is subscribed 2.21 times on December 20, 2019 5:00:01 PM (Day 3). The public issue subscribed 1.89 times in the retail category, 3.54 times in the QIB category, and 1.21 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 3.54 | 56,49,718 | 1,99,72,680 |
| NII | 1.21 | 42,37,288 | 51,07,956 |
| Retail | 1.89 | 98,87,006 | 1,86,38,760 |
| Total | 2.21 | 1,97,74,012 | 4,37,19,396 |
Note:
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the BRLMs (including brokerage, underwriting and selling commission) | 12.04 |
| 2 | Selling commission and processing fees for SCSBs and fees payable to the Sponsor Bank | 0.07 |
| 3 | Brokerage, selling commission and bidding charges for the Members of the Syndicate, SCSBs, Registered Brokers, RTAs and CDPs | 0.80 |
| 4 | Fees payable to the Registrar to the Offer | 0.01 |
| 5 | Listing fees, SEBI filing fees, book building software fees and other regulatory expenses, Printing and stationery expenses, Fees payable to Monitoring Agency, Advertising and marketing for the Offer, and Miscellaneous | 12.79 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹178.00 | ₹178.00 |
| Open | ₹160.00 | ₹160.00 |
| Low | ₹152.60 | ₹152.50 |
| High | ₹177.95 | ₹177.90 |
| Last Trade | ₹166.60 | ₹166.90 |
Lead Manager Reports
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 Crores. The issue is priced at ₹178 per share. The minimum order quantity is 84.
The IPO opens on Wed, Dec 18, 2019, and closes on Fri, Dec 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 Wed, Dec 18, 2019 and closes on Fri, Dec 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 Mon, Dec 30, 2019. Check the Prince Pipes IPO allotment status.
The Prince Pipes IPO listing date is on Mon, Dec 30, 2019.
