Malpani Pipes IPO booked nearly 7 times so far: Check price band, lot size and other key details

The initial public offering (IPO) of Malpani Pipes And Fittings Ltd opened to a strong demand on Wednesday. The BSE SME issue was fully subscribed within hours of launch, driven by high demand from retail investors.

The plastic pipes manufacturer aims to raise ₹25.92 crore from the primary market through its maiden share sale. The IPO will remain open for subscription from January 29 to January 31.

The investors across categories applied for 1.43 crore shares against 20.80 lakh shares on offer, till 4:35 pm, as per the BSE data. The IPO was overall booked 6.89 times.

On the first day of bidding the retail investors led the demand by applying for more than 1.11 crore shares against 9.6 lakh shares set aside for them. The retail quota was booked 11.60 times. The Non-Institutional Investors (NIIs) placed bids for 31.72 lakh shares compared to the allocation of 5.61 lakh shares, leading to a subscription of 5.65 times in the category. However, the Qualified Institutional Buyers (QIBs) category saw a muted response with a subscription of only 2%. The QIBs applied for 11,200 shares against their quota of 5.58 lakh shares.

Here’s a look at all the key details about the issue for the investors interested in applying for the shares of Malpani Pipes And Fittings Ltd.

Malpani Pipes And Fittings raises ₹7.2 crore from anchor investors

Ahead of the launch of its IPO, Malpani Pipes And Fittings raised a total of ₹7.2 crore from anchor investors. Its anchor bidding round was held on January 28. According to the circular on the BSE, the company allotted 8 lakh shares to seven anchor investors at ₹90 per equity share.

Malpani Pipes And Fittings IPO price band and other details

The book-built issue IPO of Malpani Pipes And Fittings consists of an exclusively fresh issue of 28.8 lakh shares and no offer-for-sale (OFS) component.

The company has fixed the price band at ₹85 to ₹90 per share for the IPO. The minimum lot size is 1,600 shares for retail investors, amounting to a minimum investment of ₹1,44,000 for a single lot size.

Interactive Financial Services Ltd is the book-running lead manager of the Malpani Pipes And Fittings IPO, while Bigshare Services Pvt. Ltd is the registrar for the IPO.

Malpani Pipes And Fittings IPO dates

The IPO allotment status is expected to be finalised on Monday, February 3. Refunds will be issued on Tuesday, February 4, and the allottees will also receive shares in the Demat accounts on the same day.

The company has proposed to list its shares on the BSE SME platform on Wednesday, February 5.

About Malpani Pipes And Fittings

Malpani Pipes and Fittings Ltd, established in 2017, is a leading manufacturer of high-grade plastic pipes, which produces a diverse range of products, including High-Density Polyethylene (HDPE), Medium-Density Polyethylene (MDPE), and Linear Low-Density Polyethylene (LLDPE) pipes. The company is based in Ratlam, Madhya Pradesh.

The company currently has a robust operation with 10 production lines and an installed capacity of 11,500 MTPA.

Malpani Pipes’ diverse product range serves a wide variety of applications, from irrigation and potable water supply to sewerage, drainage systems and underground water extraction through borewells and tube wells.

It caters to many well-established companies across sectors, including prominent players like GR Infra Projects Ltd, JWIL Infra Ltd and Virent Power and Projects Ltd.

Use of IPO proceeds

As per the plastic pipe maker’s RHP, the proceeds from the public offer will be utilised for the capital expenditure on the purchase of machinery, repayment of debt and general corporate purposes.

Malpani Pipes And Fittings financials

For the period ended November 30, 2024, in the current financial year, the company’s revenue from operations stood at ₹84.09 crore. It reported a profit after tax (PAT) of ₹5.09 crore during the same period.

For the financial year ended March 31, 2024, Malpani Pipes And Fittings’ revenue from operations was recorded at ₹140.96 crore compared to ₹82.45 crore in the preceding fiscal (FY23). The profit after tax (PAT) for FY24 was ₹7.39 crore as against ₹2.08 crore in FY23.