Prince Pipes IPO Details

Prince Pipes IPOPrince Pipes IPO description – Prince Pipes manufactures polymer pipes using four different polymers: UPVC; CPVC; PPR; and HDPE, and fittings using three different polymers: UPVC; CPVC; and PPR. As at 30 June 2018, it had a product range of 7,480 SKUs. Its products are used for varied applications in plumbing, irrigation, and soil, waste and rain water (“SWR”) management.

The company has five strategically located manufacturing plants at the following locations: Athal (Union Territory of Dadra and Nagar Haveli); Dadra (Union Territory of Dadra and Nagar Haveli); Haridwar (Uttarakhand); Chennai (Tamil Nadu); and Kolhapur (Maharashtra). The total installed capacity of the company’s five existing plants is 242,916 tonnes per annum as at 31 July 2018. It uses two contract manufacturers in Aurangabad (Maharashtra) and one in Hajipur (Bihar). The company distributes its products from five plants and 10 warehouses. As at 30 June 2018, it sold Prince Piping Systems products to 843 distributors in India. It sells Trubore products directly to wholesalers and retailers whose strength stood at 212 wholesalers and retailers as at 30 June 2018.

The company plans to set up two new manufacturing plants, one in Jobner (Rajasthan), which is near Jaipur, with an installed capacity of 40,621 tonnes per annum and the other in Sangareddy (Telangana) with an installed capacity of 52,242 tonnes per annum.

Promoters of Prince Pipes and Fittings – Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda, Vipul Jayant Chheda and Heena Parag Chheda
Prince Pipes IPO details
Subscription Dates 18 – 20 December 2019
Price Band INR177 – 178 per share
Fresh issue INR250  crore
Offer For Sale INR250 crore
Total IPO size INR500 crore
Minimum bid (lot size) 84 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Price Pipes’ financial performance (in INR crore)
FY2017 FY2018 FY2019 Q1 FY2020
Revenue 1,332.5 1,326.6 1,579.0 380.2
Expenses 1,236.6 1,231.4 1,467.5 346.3
Net income 73.1 73.3 83.2 26.9
Net margin (%) 5.5 5.5 5.3 7.1
More about Prince Pipes IPO

Prince Pipes IPO Grey Market Premium, Prince Pipes IPO GMP Trend

Upcoming IPOs in 2019 – Forthcoming IPO Calendar in 2019

Prince Pipes DRHP

Prince Pipes RHP

Registrar of Prince Pipes IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083 Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website: http://www.linkintime.co.in
Prince Pipes Contact Details
Prince Pipes and Fittings Limited
8th Floor, The Ruby
Senapati Bapat Marg (Tulsi Pipe Road)
Dadar West, Mumbai 400 028 Phone: +91 22 66022222
Email: [email protected]
Website: www.princepipes.com
Valuation of Prince Pipes (as of FY2019) 

Earnings Per Share (EPS): INR9.26

Price/Earnings (PE ratio): 19.11 – 19.22

Return on Net Worth (RONW): 21.18%

Net Asset Value (NAV): INR43.71 per share

Prince Pipes IPO Subscription Details
Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 5,649,718 0.04 0.67 3.53
NII 4,237,288 0.02 0.05 1.20
Retail 9,887,006 0.51 1.05 1.88
Total 19,774,012 0.28 0.74 2.21

 

Prince Pipes IPO Analyst Reviews 

Angel Broking – Subscribe

SMC Global – 2/5

BP Equities – Avoid

HEM Securities – Subscribe for listing gains

Motilal Oswal – Subscribe for listing gains

Reliance Securities – Subscribe

Choice Broking – Subscribe

Religare Broking – Subscribe

Prince Pipes IPO Allotment Status

Prince Pipes IPO allotment is now available on registrar website. Click on this link to get allotment status.

Listing Performance of Prince Pipes

IPO Opening Date: 18 December 2019

IPO Closing Date: 20 December 2019

Finalisation of Basis of Allotment: 26 December 2019

Initiation of refunds: 27 December 2019

Transfer of shares to demat accounts: 30 December 2019

Listing Date: 31 December 2019

Opening Price on NSE: INR160 per share (down 10.11% from IPO price)

Closing Price on NSE: INR166.90 per share (down 6.24% from IPO price)

16 COMMENTS

  1. ***Prince Pipes & Fittings IPO***

    Issue Dates: 18 – 20 December 2019
    Price Band: 177 – 178
    Bid Lot: 84 Shares
    Total Issue Size: 500 crore
    Allocation: QIB 50%, HNI 15% & Retail 35%

  2. This company’s IPO approval is set to lapse on 28 December so it is bringing IPO. It will be a quick affair and may be good for investors.

  3. There are some concerns about this company:

    First – Shares pledged by the promoters is one major worry. Just before the IPO, 35% of promoter shares were pledged and the clean prospectus is only for IPO purpose, the pledge will be recreated if promoters fail to pay Rs 200 crore.

    Second – Many of the firms in promoter group are in real estate and construction business. Real estate is a big no for me. Having seen several good companies consumed by real estate, I don’t like businesses which diversify into real estate, either directly or indirectly. Real estate is often used as a conduit to siphon off money.

    Third – Past investment by Prince Pipes promoters in Vikas Ecotech. Just look at the stock chart of Vikas Ecotech and you will know it is a fraud company. You may believe that it may be a genuine investment error but I have my reservations. People at CEO level know a lot more about their investments and their fellow CEOs.

    Fourth – Prince Pipes filed red herring prospectus in December but it contains financials only till June quarter! It is a big red flag for me. It doesn’t take this long to prepare quarterly results. Many companies show decent profits before IPO by adjusting inventories, delaying payments to vendors etc only to post horrible numbers in the quarter after the IPO. If it turns out to be such case with Prince, god save investors!

  4. This analysis of prince pipes ipo by gordhandas panjwani is an eye opener. These are enough warning signals for me to avoid this. If I apply, I may be able to make someprofit but can lose a lot if things go wrong. I’m staying away from this.

LEAVE A REPLY

Please enter your comment!
Please enter your name here