Malpani Pipes IPO was listed at a 4.56% discount on the BSE SME platform on January 4. The IPO, which had a price band of ₹85 to ₹90 per share, debuted at ₹85.90, falling below the issue price.
Overview of Contents
Malpani Pipes IPO Subscription Status
Malpani Pipes and Fittings IPO saw an overall subscription of 146.93 times, with bids for 28.42 crore shares against 19.34 lakh shares offered. Anchor investors and market makers subscribed 1x each. Qualified institutions subscribed 58.49x, non-institutional buyers 343.13x, and retail investors 113.35x. The total bid amount stood at ₹2,557.94 crore across 83,780 applications.
Malpani Pipes IPO GMP
Malpani Pipes IPO was listed on February 4, 2025, at ₹85.90, 4.56% below the issue price of ₹90. The last GMP was ₹2, indicating an expected listing at ₹92, but the actual listing fell short, marking a negative GMP listing.
Details About Malpani Pipes IPO
Malpani Pipes IPO opened for subscription on January 29, 2025, and closed on January 31, 2025. The IPO raised ₹25.92 crores through the issuance of 28.80 lakh fresh shares within a price band of ₹85 to ₹90 per share. The allotment was finalized on February 3, and the listing took place on February 5 on the BSE SME platform.
Retail investors applied with a minimum lot size of 1,600 shares, requiring an investment of ₹1,44,000, while High Net-worth Individuals (HNIs) had to apply for at least 2 lots, amounting to ₹2,88,000. Malpani Pipes reported a strong financial performance, with a net profit of ₹7.40 crores in 2024, a significant rise from ₹2.08 crores in 2023, highlighting its long-term growth potential.
Funds Depolyment of this company
- Allocate ₹3.5 crore for capacity expansion to enhance production efficiency.
- Deploy the remaining funds for general corporate purposes, including operational growth.
- Managed by Interactive Financial Services Ltd., ensuring smooth IPO execution.
- MNM Stock Broking Pvt. Ltd. serves as the market maker and syndicate member.
- Raised funds through equity issuances at ₹11-₹32 per share between August 2019 and February 2024.
- Issued bonus shares in a 9:4 ratio in August 2024 to reward existing shareholders.
- Post-IPO, equity capital increases from ₹7.90 crore to ₹10.78 crore, supporting business expansion.
- Aims for a market capitalization of ₹97 crore, reflecting growth potential.
About Company
Founded in 2017, Malpani Pipes and Fittings Ltd. manufactures HDPE, MDPE, and LLDPE pipes under the “Volstar” brand. Its Ratlam, MP plant has 10 production lines with a capacity of 11,500 M.T.P.A., serving irrigation, water supply, sewerage, and infrastructure projects. With an in-house testing facility and strong market presence, the company ensures quality and reliability.
Financial Background of Malpani Pipes IPO
Malpani Pipes reported revenue of ₹34.94 crore, expense of ₹33.75 crore, and a profit after tax of ₹0.89 crore in FY 2022, with assets totaling ₹21.30 crore.
In FY 2023, revenue grew to ₹82.57 crore, expenses rose to ₹79.80 crore, and profit increased to ₹2.08 crore, with assets at ₹38.94 crore.
By FY 2024, revenue further surged to ₹141.16 crore, expenses increased to ₹131.14 crore, and profit reached ₹7.40 crore, while assets stood at ₹61.35 crore.
As of November 2024, the company’s revenue was ₹84.55 crore, expenses were ₹77.67 crore, profit was ₹5.09 crore, and assets grew significantly to ₹90.76 crore.
