Indore (Madhya Pradesh) [India], January 28: Malpani Pipes and Fittings Limited specializes in manufacturing high quality pipes, including HDPE, MDPE, LLDPE, as well as Sprinkler and Drip Pipes, marketed under the Volstar brand. The company serves to industries, such as irrigation, telecommunications, and infrastructure. The company is set to launch its initial public offering (IPO), aiming to raise INR 25.92 crores by issuing 28.80 lakh new shares.
For its SME Initial Public Offering (IPO), it has a price band of Rs. 85 to Rs. 90 per share. The company’s shares will open for subscription on Wednesday, January 29, 2025 and closes on Friday, January 31, 2025. These will be listed on the BSE SME, with a projected listing date of Wednesday, February 5, 2025.
Interactive Financial Services Ltd is the book running lead manager of the Malpani Pipes IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Malpani Pipes IPO is Mnm Stock Broking Private Limited.
The issue proceeds will be utilized for funding capital expenditure towards the purchase of machineries, repayment of debt, to meet working capital requirements and general corporate purposes.
On Monday, February 3, 2025, the shares for the Malpani Pipes and Fittings IPO are anticipated to be allotted, and on Tuesday, February 4, 2025, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs. 1.44 lakh considering the minimum lot size for an application is 1600 shares. For HNIs, the minimum bidding size is two lots, or 3200 shares, for a total investment of Rs 2.88 lakh at the upper price band.
For the period ending 31st March 2024, the company reported total revenue of Rs. 14,116.23 Lakhs, with a PAT of Rs. 739.72 Lakhs and EBITDA of Rs. 1,329.04 Lakhs. Key financial ratios include a strong ROE of 71.52% and ROCE of 21.74%. As of 31st December 2024, the company’s outstanding order book was valued at Rs. 11,166.03 Lakhs.
The manufacturing plant, situated in Ratlam, Madhya Pradesh, has an annual production capacity of 11,500 Metric Tons per Annum (MTPA). It is equipped with state-of-the-art machinery, robust infrastructure, and an in-house testing facility.
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