Malpani Pipes IPO booked over 147 times on Day 3, share allotment on February 3; check details

The initial public offering of Malpani Pipes And Fittings IPO share allotment status is scheduled to be finalised on Monday, February 3, following a bumper subscription. The BSE SME issue was overall booked more than 147 times led by the Non-Institutional Investors (NIIs) on the last day of bidding on Friday, January 31. The ₹25.92-crore book-building issue opened for subscription on Wednesday, January 29.

The IPO received bids for more than 28.48 crore shares against 19.34 lakh shares on offer, leading to an overall subscription of 147.22 times.

The Qualified Institutional Buyers (QIBs) booked their quota 58.49 times with applications for 3.26 crore shares against 5.58 lakh shares on offer. The Non-Institutional Investors (NIIs) subscribed their category 343.51 times with bids for more than 14.29 crore shares against the allocation of 4.16 lakh shares. The retail portion of the IPO was booked 11379 times with bids for 10.92 crore shares compared to 9.6 lakh shares set aside for the category.

Investors waiting for the share allotment to be finalised by the company can check the details on the BSE website. The IPO allotment status can also be checked on the official website of the issue registrar, Bigshare Services Pvt. Ltd.

Steps to check Malpani Pipes And Fittings IPO allotment status on the NSE website

• Visit the BSE IPO allotment status page here: https://www.bseindia.com/investors/appli_check.aspx
• Choose equity as the issue type from the two options
• Select Malpani Pipes And Fittings Ltd from the list of IPO names
• Enter your application number or PAN details
• Click ‘Submit’ to view the IPO share allocation details

Steps to check IPO allotment status on Bigshare Services

• Open the IPO allotment status page on the official website of the issue registrar, Bigshare Services Pvt Ltd: https://www.bigshareonline.com/ipo_allotment.html
• Select any of the servers out of the three links
• Choose Malpani Pipes And Fittings Ltd from the drop-down menu for company names
• Choose any of these- PAN, Application Number, Beneficiary ID
• Enter details for verification
• Click on the ‘Submit’ button

It’s important to note that the IPO allotment status will only appear after the company finalises the share allocation.

Malpani Pipes And Fittings IPO key details

• Malpani Pipes And Fittings IPO comprises an exclusively fresh issue of 28.8 lakh shares worth ₹25.92 crore, 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.
• Refunds will be issued on Monday, February 3, and the allottees will also receive shares in their Demat accounts on the same day.
• The company has proposed to list its shares on the BSE SME platform on Tuesday, February 4.

About Malpani Pipes And Fittings and use of IPO proceeds

Malpani Pipes and Fittings Ltd 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.

Malpani Pipes’ products cater to a wide range of applications like irrigation and potable water supply, sewerage treatment plants, drainage systems and underground water extraction.

The company’s prominent clients are GR Infra Projects Ltd, JWIL Infra Limited, and Virent Power and Projects Ltd, among others.

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

Malpani Pipes And Fittings key financials

Key Performance Indicators (KPIs)