Malpani Pipes Fittings Announces SME IPO Price Band of Rs 85-90 Ahead of January 29 Opening

Malpani Pipes And Fittings Ltd has announced the price range for its upcoming initial public offering (IPO). The shares will be priced between Rs 85 and Rs 90 each, with the IPO set to launch on January 29. At the highest price point, the company aims to raise approximately Rs 25.92 crore from this offering.

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The IPO will close on January 31, and the company's shares are expected to be listed on the BSE's SME platform. Investors are required to bid for a minimum of 1,600 shares, with additional bids in multiples of this amount. The entire public issue consists of a fresh issue of 28.80 lakh equity shares.

IPO Proceeds and Business Focus

The funds raised from this IPO will be used for several purposes. These include purchasing machinery, repaying debt, meeting working capital needs, and general corporate expenses. Malpani Pipes and Fittings is known for producing high-quality pipes under the Volstar brand, including HDPE, MDPE, LLDPE, sprinkler, and drip pipes.

The company caters to various sectors such as irrigation, telecommunications, and infrastructure. Interactive Financial Services is managing the book-running process for this IPO, while Bigshare Services acts as the registrar.

Financial Performance and Order Book

For the fiscal year ending March 31, 2024, Malpani Pipes And Fittings reported a total revenue of Rs 141.16 crore. The profit after tax for this period was Rs 7.4 crore. As of December 31, 2024, the company's outstanding order book stood at Rs 111.66 crore.