 "IPO, Initial Public Offer")
Prince Pipes and Fittings, one of India's leading pipe and fitting manufacturers, is slated to open its initial public offering (IPO) on Wednesday. It has 5 per cent share in the organised market and was the sixth largest player in terms of sales at the end of FY19.
The offer will be a combination of both fresh issue of shares and offer-for-sale (OFS). The proceeds will be utilised to repay partial debt and expand capacity at Rajasthan and Telangana plants. Price band of the offer has been fixed at Rs 177-178. The bid lot consists of 84 shares and multiple
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