Malpani Pipes IPO: The unlisted shares of Malpani Pipes & Fittings continue to command a strong premium in the grey market as the company's initial public offering (IPO) enters its second day of subscription. The SME IPO consists of a fresh issue of 2.88 million equity shares, offered in a price band of Rs 85-90 per share, with a lot size of 1,600 shares. Thus, investors bidding for a minimum lot of Malpani Pipes IPO would require an investment of Rs 1,44,000.
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Malpani Pipes has garnered a decent response from investors for its public offering, with the issue oversubscribed nearly 13 times as of 11:29 AM on Thursday, January 30, 2025. Rs 25.92 crore offering is being managed by Interactive Financial Services as the sole book-running lead manager, while Bigshare Services serves as the registrar.
Malpani Pipes IPO grey market trends
Sources tracking grey market activity indicate that Malpani Pipes' shares are trading at Rs 117 apiece in the unofficial market. This reflects a grey market premium (GMP) of Rs 27 or 30 per cent over the upper end of the IPO price band, signaling favourable investor demand ahead of listing. However, as the grey market is unregulated, GMP should not be considered a reliable indicator of performance.
Malpani Pipes IPO timeline and listing
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The public subscription window for Malpani Pipes IPO will close on Friday, January 31, 2025. The basis of allotment is expected to be finalised on Monday, February 3, 2025, with successful applicants receiving shares in their demat accounts on the same day.
Malpani Pipes shares are tentatively scheduled to list on the BSE SME platform on Tuesday, February 4, 2025.
Anchor Investors and fund utilisation
Ahead of the IPO launch, Malpani Pipes raised Rs 7.20 crore from anchor investors. The company plans to allocate the proceeds from the public offering towards capital expenditure for machinery purchases, debt repayment, and general corporate purposes.
About Malpani Pipes & Fittings
Malpani Pipes & Fittings is a manufacturer of a range of high-grade plastic pipes. The company's products include High-Density Polyethylene (HDPE) Pipes, Medium-Density Polyethylene (MDPE) Pipes, and Linear Low-Density Polyethylene (LLDPE) Pipes, all marketed under the brand name 'Volstar'. The company is also engaged in the trading of granules and PVC pipes, as well as the sale of services. Malpani Pipes & Fittings has a manufacturing plant located in central India, i.e., Ratlam, Madhya Pradesh.