Prince Pipes & Fittings IPO
Prince Pipes & Fittings IPO — date, price band, lot size & details 2019
Prince Pipes & Fittings listed on 30 Dec 2019 at ₹160, 10.1% below the ₹178 issue price.
Prince Pipes and Fittings makes polymer pipes and fittings under the Prince and Trubore brands at six plants across India. Its total income was Rs 1,579.00 crore in FY2019.
Stock price
Prince Pipes & Fittings is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 18 Dec 2019
- Close 20 Dec 2019
- Allotment 26 Dec 2019
- Refund/credit 27 Dec 2019
- Listing 30 Dec 2019
Issue summary
The terms of the offer, as filed.
| IPO Dates | 18 to 20 Dec, 2019 |
|---|---|
| Price Band | ₹177 – ₹178 |
| Face Value | ₹10 |
| Lot Size | 84 Shares |
| Issue Size | ₹500 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,952 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 84 shares at the ₹178 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 84 | ₹14,952 |
| Retail (max) | 13 | 1,092 | ₹1,94,376 |
| S-HNI (min) | 14 | 1,176 | ₹2,09,328 |
| S-HNI (max) | 66 | 5,544 | ₹9,86,832 |
| B-HNI (min) | 67 | 5,628 | ₹10,01,784 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01It has six plants across India and a range of 7,167 SKUs.
- 02Total income rose from Rs 1,326.57 crore in FY2018 to Rs 1,579.00 crore in FY2019.
- 03Profit after tax rose from Rs 72.77 crore in FY2018 to Rs 83.35 crore in FY2019.
- 04EBITDA rose from Rs 162.63 crore in FY2017 to Rs 185.91 crore in FY2019.
- 05Rs 159.00 crore of the issue was for a new plant and Rs 49.10 crore for upgrading equipment.
Risks · 5
- 01Imports made up 52.12% of its raw material cost in FY2019, so currency moves matter.
- 02Polymer resin prices follow crude oil; profit after tax was only Rs 83.35 crore on income of Rs 1,579.00 crore in FY2019.
- 03Total income was flat at Rs 1,332.50 crore in FY2017 and Rs 1,326.57 crore in FY2018.
- 04The new Telangana plant's cost was not appraised by any bank, and Rs 250.00 crore of the issue went to selling shareholders.
- 05Promoter holding fell from 87.14% before the issue to 63.25% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Prince Pipes & Fittings offer document.
| Metric | 30 Jun 2019 | 31 Mar 2019 | 31 Mar 2018 | 31 Mar 2017 |
|---|---|---|---|---|
| Assets | 1,014.46 | 1,040.41 | 979.88 | 760.51 |
| Total Income | 380.19 | 1,579.00 | 1,326.57 | 1,332.50 |
| Profit After Tax | 26.67 | 83.35 | 72.77 | 74.18 |
| EBITDA | 52.71 | 185.91 | 163.34 | 162.63 |
| NET Worth | 420.41 | 393.48 | 309.33 | 235.70 |
| Reserves and Surplus | 337.84 | 310.75 | 226.56 | 197.54 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹237.11 Cr of the issue is earmarked to named objects.
Prince Pipes & Fittings IPO Anchor Investors
13 anchor investors across 7 fund houses committed ₹149.99 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It makes polymer pipes and fittings under the Prince and Trubore brands, with a range of 7,167 SKUs as at 31 October 2019.
It has six plants at Athal and Dadra (Dadra and Nagar Haveli), Haridwar, Chennai, Kolhapur and Jobner (Rajasthan), and planned a new plant in Telangana. It bought the Kolhapur and Chennai plants from Chemplast in 2012.
The IPO was Rs 500 crore, with Rs 250.00 crore of fresh issue and Rs 250.00 crore of offer for sale, at Rs 178, the top of the Rs 177 to Rs 178 band. The fresh money was mainly for the new plant and upgrading equipment.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Prince Pipes & Fittings IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Prince Pipes & Fittings?
The current Grey Market Premium is ₹1.5, or 1% over the issue price.
What is the Prince Pipes & Fittings IPO price band?
₹177 to ₹178, on a face value of ₹10.
When is the allotment?
The basis of allotment is 26 December 2019, with listing on 30 December 2019.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
