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Prince Pipes IPO is a book built issue of Rs 500.00 crores. The issue is a combination of fresh issue of Rs 250.00 crores and offer for sale of Rs 250.00 crores.
Prince Pipes IPO bidding started from December 18, 2019 and ended on December 20, 2019. The allotment for Prince Pipes IPO was finalized on Thursday, December 26, 2019. The shares got listed on BSE, NSE on December 30, 2019.
Prince Pipes IPO price band is set at ₹177 to ₹178 per share. The minimum lot size for an application is 84 Shares. The minimum amount of investment required by retail investors is ₹14,952.
Edelweiss Financial Services Ltd and Jm Financial Limited are the book running lead managers of the Prince Pipes IPO, while Link Intime India Private Ltd is the registrar for 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 |
| Price Band | ₹177 to ₹178 per share |
| Lot Size | 84 Shares |
| Total Issue Size | 28,248,586 shares (aggregating up to ₹500.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹250.00 Cr) |
| Offer for Sale | [.] shares of ₹10 (aggregating up to ₹250.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 95,980,816 |
| Share holding post issue | 110,025,759 |
Prince Pipes IPO offers 19,774,012 shares. 5,649,718 (28.57%) to QIB, 4,237,288 (21.43%) to NII, 9,887,006 (50.00%) to RII. 117,702 RIIs will receive minimum 84 shares and (sNII) and (bNII) will receive minimum 1,176 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 5,649,718 (28.57%) | NA |
| NII (HNI) Shares Offered | 4,237,288 (21.43%) | |
| Retail Shares Offered | 9,887,006 (50.00%) | 117,702 |
| Total Shares Offered | 19,774,012 (100%) |
Prince Pipes IPO opens on December 18, 2019, and closes on December 20, 2019.
| IPO Open Date | Wednesday, December 18, 2019 |
| IPO Close Date | Friday, December 20, 2019 |
| Basis of Allotment | Thursday, December 26, 2019 |
| Initiation of Refunds | Friday, December 27, 2019 |
| Credit of Shares to Demat | Monday, December 30, 2019 |
| Listing Date | Monday, December 30, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 20, 2019 |
Investors can bid for a minimum of 84 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 84 | ₹14,952 |
| Retail (Max) | 13 | 1092 | ₹194,376 |
| Lot Size Calculator | |||
Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda, Vipul Jayant Chheda and Heena Parag Chheda are the promoters of the company.
| Share Holding Pre Issue | 90.06% |
| Share Holding Post Issue | 65.80% |
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 details of utilization of the proceeds of the Fresh Issue are summarized below:
1. Repayment or prepayment of certain outstanding loans of the company;
2. Financing the project cost towards establishment of a new manufacturing facility;
3. Upgradation of equipment at the manufacturing facilities; and
4. General corporate purposes, subject to the applicable laws.
[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...
The Prince Pipes IPO is subscribed 2.21 times on December 20, 2019 5:00:01 PM. 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) |
|---|---|
| QIB | 3.54 |
| NII | 1.21 |
| Retail | 1.89 |
| Total | 2.21 |
Note:
| Listing Date | December 30, 2019 |
| BSE Script Code | 542907 |
| NSE Symbol | PRINCEPIPE |
| ISIN | INE689W01016 |
| Final Issue Price | ₹178 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹178.00 |
| ₹160.00 |
| ₹152.60 |
| ₹177.95 |
| ₹166.60 |
| NSE |
|---|
| ₹178.00 |
| ₹160.00 |
| ₹152.50 |
| ₹177.90 |
| ₹166.90 |
Prince Pipes and Fittings Ltd
Plot No.1, Honda Industrial Estate,
Phase II, Honda Sattari,
Honda, Goa 403 530, India
Phone: +91 22 66022222
Email: investor@princepipes.com
Website: https://princepipes.com/
Link Intime India Private 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 28,248,586 equity shares of the face value of ₹10 aggregating up to ₹500.00 Crores. The issue is priced at ₹177 to ₹178 per share. The minimum order quantity is 84 Shares.
The IPO opens on December 18, 2019, and closes on December 20, 2019.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Prince Pipes IPO opens on December 18, 2019 and closes on December 20, 2019.
Prince Pipes IPO lot size is 84 Shares, and the minimum amount required is ₹14,952.
You can apply in Prince Pipes IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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