Texmo Pipes & Products IPO
Texmo Pipes & Products IPO — date, price band, lot size & details 2010
Texmo Pipes & Products listed on 10 Mar 2010 at ₹92.8, 3.1% above the ₹90 issue price.
Texmo Pipes & Products makes PVC and HDPE pipes for irrigation, water supply, sewerage, construction and telecom uses. Its total income was Rs 65.28 crore in FY2009.
Stock price
Texmo Pipes & Products 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 12 November.
- Open 16 Feb 2010
- Close 19 Feb 2010
- Allotment 03 Mar 2010
- Refund/credit TBA
- Listing 10 Mar 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 16 to 19 Feb, 2010 |
|---|---|
| Price Band | ₹85 – ₹90 |
| Face Value | ₹10 |
| Lot Size | 75 Shares |
| Issue Size | ₹45 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,750 |
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 75 shares at the ₹90 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 75 | ₹6,750 |
| Retail (max) | 29 | 2,175 | ₹1,95,750 |
| S-HNI (min) | 30 | 2,250 | ₹2,02,500 |
| S-HNI (max) | 148 | 11,100 | ₹9,99,000 |
| B-HNI (min) | 149 | 11,175 | ₹10,05,750 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 59.08 crore in FY2008 to Rs 65.28 crore in FY2009.
- 02Profit after tax rose from Rs 4.26 crore in FY2008 to Rs 4.73 crore in FY2009.
- 03Rs 22.06 crore of the issue was for new injection moulding and woven sack capacity.
- 04Its pipes serve irrigation, water supply, construction and telecom, so it is not tied to one end market; it sold in 6 states.
Risks · 5
- 01The company itself was incorporated only on 3 July 2008, so its own record is short.
- 02Total borrowing was Rs 25.89 crore on 31 October 2009, above its net worth of Rs 15.22 crore.
- 03PVC resin prices drive costs, and profit was Rs 4.73 crore on income of Rs 65.28 crore in FY2009.
- 04Pipes are a crowded market, and the issue was only Rs 45 crore.
- 05Promoters held 100% before the issue and 55.63% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Texmo Pipes & Products offer document.
| Metric | 31 Oct 2009 | 31 Mar 2009 | 31 Mar 2008 | 31 Mar 2007 |
|---|---|---|---|---|
| Total Income | 43.10 | 65.28 | 59.08 | 20.48 |
| Profit After Tax | 3.36 | 4.73 | 4.26 | 0.41 |
| NET Worth | 15.22 | 18.11 | 9.46 | 3.29 |
| Reserves and Surplus | 9.94 | - | 0.00 | 0.00 |
| Total Borrowing | 25.89 | - | 9.76 | 4.81 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Texmo Pipes & Products RHP.
Where the money goes
₹49.76 Cr of the issue is earmarked to named objects.
About the company
It makes PVC and HDPE pipes, including suction and delivery hose, rigid PVC and gasket pipes, casing pipes, SWR and plumbing pipes, conduit pipes, sprinkler pipes, cable ducts and drip irrigation systems.
Its pipes are used in irrigation, agriculture, drinking water schemes, sewerage, construction, telecom and bore wells. It sold in Madhya Pradesh, Maharashtra, Uttar Pradesh, Gujarat, Andhra Pradesh and Rajasthan.
The IPO was Rs 45 crore and was entirely fresh issue at Rs 90 per share. The money was for new products, a facility for injection moulded fittings and woven sacks, and working capital.
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.
Texmo Pipes & Products 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.
Almondz Global Securities Ltd
23 issues handledBest listing: Amar Remedies (+100.0%). Weakest: First Winner Industries (-12.0%).
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 Texmo Pipes & Products?
The current Grey Market Premium is ₹0.
What is the Texmo Pipes & Products IPO price band?
₹85 to ₹90, on a face value of ₹10.
When is the allotment?
The basis of allotment is 3 March 2010, with listing on 10 March 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies 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.
