Texmo Pipes and Products IPO subscribed 7.41 times

• QIB - 1.02 times
• HNI - 30.50 times
• Retail - 7.07 times

The Initial Public Offer of Texmo Pipes amd Products Limited received a magnificent response as it got subscribed 7.41 times as per latest information available with the stock exchanges. The total QIB portion was subscribed 1.02 times while the HNI was subscribed 30.50 times. The retail portion also received an overwhelming response as the segment was subscribed 7.07 times. Almondz Global Securities Ltd.is the sole book running lead manager to the Offer.

Madhya Pradesh – based pipes manufacturing company, Texmo Pipes and Products Limited, entered the capital markets with its proposed public issue of 50,00,000 equity shares at a price band of Rs. 85 to Rs. 90 per equity share for the initial public offering of equity shares. The main purpose of the IPO is to raise funds towards the expansion of its product range and also to set up manufacturing facilities for injection mouldings / fittings and woven sacks. The company proposes to expand its product range by introducing products like CPVC, Drip Inline and DWC pipes. With this increase in product range, the installed capacity of the company would be 41674 MTPA for PVC pipes.