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Prince Pipes To Launch IPO On Dec 18
Prince Pipes and Fittings is set to come up with its IPO offer on December 18. The price band for the issue has been fixed at Rs 177-178/share. Through the issue, the company aims to raise a total of Rs. 500 crore, comprising fresh issue of Rs. 250 crore and an OFS worth Rs. 250 crore.
Investors can place a minimum bid for 84 shares and in multiples of 84 shares thereafter.
The combined installed capacity of the company's six facilities stood at 2,41,211 tonnes per annum as of October 31, 2019. At its plant in Jobner in Rajasthan, the company plans to augment its installed capacity to 17,021 tonnes per annum from 6,221 tonnes per annum by the end of the ongoing year and to 20,909 tonnes per annum by March 31, 2020.
The book running lead managers to the issue are JM Financial and Edelweiss Financial Services.
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