Prince Pipes and Fittings IPO opens today. Should you subscribe?

Prince Pipes and Fittings, one of India's leading pipe and fitting manufacturers, is slated to open its initial public offering (IPO) on Wednesday. It has 5 per cent share in the organised market and was the sixth largest player in terms of sales at the end of FY19.

The offer will be a combination of both fresh issue of shares and offer-for-sale (OFS). The proceeds will be utilised to repay partial debt and expand capacity at Rajasthan and Telangana plants. Price band of the offer has been fixed at Rs 177-178. The bid lot consists of 84 shares and multiple