Malpani Pipes IPO Itemizing: ₹ 90 shares gave a giant shock, record at 4% low cost, then decrease circuit – INA NEWS

Malpani Pipes IPO Itemizing: The shares of Malpani Pipes and Fitings, which produce excessive grade plastic pipes underneath the Volster model, acquired light within the home market at this time. At first it was listed on the low cost after which broke and got here to the decrease circuit. Nonetheless, its IPO obtained great response from traders and general greater than 146 occasions bid. Shares have been issued at a worth of Rs 90 underneath the IPO. At present, it has entered BSE SME at Rs 85.90, that’s, IPO traders didn’t get any itemizing beneficial properties however solely 4.56 % of the capital was decreased. It got here down additional after the itemizing. It broke down on the decrease circuit of Rs 81.61 (Malpani Pipes Share Value) i.e. IPO traders at the moment are 9.32 % losses.

Malpani Pipes IPO acquired robust response

The ₹ 25.92 crore IPO of Malpani Pipes and Fitings was opened from 29-31 January for subscription. This IPO obtained great response from traders and general it was subscribed to 146.93 occasions. It had a share reserved for certified Institutional Consumers (QIB), 58.49 occasions, non-institutional traders (NII) share 343.13 occasions and retail traders had been 113.35 occasions. Beneath this IPO, 28.80 lakh new shares with a face worth of Rs 10 have been issued. The corporate will use the cash raised by these shares within the buy of equipment, compensation of debt and customary company functions.

About Malpani Pipes and Fittings

The Malpani pipes and fittings made within the yr 2017 makes excessive grade plastic pipes underneath the ‘Volstar’ model. Its pipe is utilized in infra tasks reminiscent of irrigation, water provide, sewerage, drainage, borholes, tube Wales in addition to electrical cable and optical fiber set up. Its manufacturing plant is in Ratalaman, Madhya Pradesh.

Speaking in regards to the monetary well being of the corporate, it has been strongly strengthened. It had made a internet revenue of Rs 89 lakh in FY 2022, which jumped within the subsequent monetary yr 2023 to Rs 2.08 crore and Rs 7.4 crore in FY 2024. Throughout this era, the corporate’s income elevated to Rs 141.16 crore from a compound charge (CAGR) yearly to Rs 141.16 crore yearly. Speaking in regards to the present monetary yr 2024-25, in April-November 2024 it has obtained a internet revenue of Rs 5.09 crore and a income of Rs 84.55 crore.

WWORK India will carry IPO, filed papers to SEBI