Malpani Pipes IPO closes today; check subscription data, GMP, listing date

Malpani Pipes and Fittings IPO, which opened for public subscription on Wednesday, January 29, 2025, is set to close today, Friday, January 31, 2025

Malpani Pipes and Fittings' Rs 26 crore offering is set to close for public subscription today, Friday, January 31, 2025. The public offering, which opened for subscription on Wednesday, January 29, 2025, has garnered a favorable response from investors, getting oversubscribed by 33.76 times by the end of January 30.

 

At the upper end, the company seeks to raise Rs 25.92 crore from the public offering by issuing a fresh issue of 2.88 million equity shares. Malpani Pipes has set the price band for its public issue at Rs 85-90 per share. The public offering is available with a lot size of 1,600 shares. Thus, investors willing to bid for Malpani Pipes IPO can place bids for a minimum of 1,600 shares and in multiples thereof, with a minimum investment of Rs 1,44,000.

 

That said, as the public offering enters its third and final day of subscription, its grey market premium (GMP) has witnessed a drop from its peak. Sources tracking unofficial market activities revealed that Malpani Pipes shares were seen trading at around Rs 100 apiece, reflecting a GMP of Rs 10 or 11.11 per cent over the upper end of the issue price. Malpani Pipes IPO's GMP today is, however, Rs 17 lower than Rs 27 recorded on January 29, when the issue opened for public subscription.

 

Following the closure of the subscription window, the basis of allotment is expected to be finalised on or about Monday, February 3, 2025, with successful applicants receiving shares in their demat accounts on or about Tuesday, February 4, 2025, as outlined in its Red Herring Prospectus (RHP).   ALSO READ: Dr Agarwal's Health Care IPO ends today; 47% subscription, GMP drops to 1%

 

Malpani Pipes shares are slated to list on the BSE SME platform, tentatively on or about Wednesday, February 5, 2025.

 

Malpani Pipes proposes to utilise the proceeds from the public offering towards capital expenditure for machinery purchases, debt repayment, and general corporate purposes.

 

For the public offering, Bigshare Services serves as the registrar, while Interactive Financial Services is the sole book-running lead manager.

 

Malpani Pipes and Fittings manufactures high-grade plastic pipes, including HDPE, MDPE, and LLDPE pipes. The company's products cater to irrigation, water supply, sewerage, and infrastructure projects. Its manufacturing plant in Ratlam, Madhya Pradesh, has a production capacity of 11,500 MTPA. Malpani Pipes distributes its products to wholesalers, retailers, and government projects.