Prince Pipes IPO Analysis, IPO Review, Dates, Price Bands, Market Lot, Prince Pipes and Fitting Ltd IPO Grey Market Price Details
Prince Pipes and Fitting Ltd IPO is all set to come out with its Rs 500 crore initial public offering on Wednesday.
Prince Pipes and Fittings Ltd Incorporated in 1987, Mumbai based Prince Pipes and Fittings Limited is engaged in the manufacturing of polymer pipes and fittings. The company produces four types of polymer pipes including CPVC, UPVC, HDPE, PPR and three different polymer fitting types CPVC, PPR, and UPVC.
It is operating in the polymer pipe segment under two brand names; which are Trubore and Prince Piping Systems. The company has a corporate office in Mumbai and a strong presence across North, South and West India.
As of October 31, 2019, it had a product range of 7,167 SKUs. Its products are used for varied applications in plumbing, irrigation, and soil, waste, and rainwater (SWR) management.
The total installed capacity of its six existing plants is 2,41,211 tonnes per annum as of October 2019.
Prince Pipe plans to expand the installed capacity at Jobner (Rajasthan) plant from 6,221 tonnes per annum to 17,021 tonnes per annum by December 2019 and to 20,909 tonnes per annum by March 2020. It also plans to set up a new manufacturing plant in Sangareddy (Telangana), with a total estimated installed capacity of 51,943 tonnes per annum in FY21.
It uses five contract manufacturers, of which two are in Aurangabad (Maharashtra), one is in Guntur (Andhra Pradesh), one is in Balasore (Odisha) and one is in Hajipur (Bihar).
Prince Pipes IPO Details:
The issue consists of a fresh issue of Rs 250 crore and offers for sale of Rs 250 crore.
The offer for sale comprises selling of Rs 20 crore shares by Jayant Shamji Chheda, Rs 140 crore shares by Tarla Jayant Chheda, Rs 50 crore shares by Parag Jayant Chheda and Rs 40 crore shares by Vipul Jayant Chheda, which all are promoters.
Bids can be made for a minimum of 84 equity shares and in multiples of 84 shares thereafter. The issue will close on December 20.
Prince Pipes and Fittings Limited IPO Details:
| Open Date: | Dec 18, 2019 |
| Close Date: | Dec 20, 2019 |
| Total Shares: | 28089887 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 500 Cr. |
| Lot Size: | 84 Shares |
| Issue Price: | ₹ 177-178 Per Equity Share |
| Listing At: | NSE, BSE |
| Listing Date: | Dec 30, 2019 |
| Upcoming IPO 2020 | Upcoming NCD 2020 |
Overview of Prince Pipes and Fittings
The Prince Pipes company markets its products under two brand names: Prince Piping Systems and Trubore Piping Systems.
The company sells under various brands names like Durafit, Easyfit, Silentfit, Foamfit, Safefit, Rainfit, Novofit, Greenfit, Aquafit, and TRUBORE in India.
The company has more than 30 years‘ experience in manufacturing polymer pipes and more than 20 years‘ experience in manufacturing fittings.
The company has a product range of more than 7,167 SKUs. The company’s products are used for varied applications in plumbing, irrigation, and sewage disposal.
Prince Pipes IPO – Promoters
The Promoter of this company are:
- Jayant Shamji Chheda,
- Tarla Jayant Chheda,
- Parag Jayant Chheda,
- Vipul Jayant Chheda and
- Heena Parag Chheda
Financials of Prince Pipes and Fittings Limited IPO:
(Fig. in Crores)
| Year | Revenue | EBITDA | OPM | PAT | NPM | EPS |
| 2016 | 1081 | 100 | 9.3% | 29.3 | 2.7% | 2.66 |
| 2017 | 1332 | 165 | 12.4% | 73.1 | 5.5% | 6.65 |
| 2018 | 1326 | 203 | 15.3% | 73.3 | 5.5% | 6.66 |
| 2019 | 1578 | 193 | 12.2% | 83.2 | 5.3% | 7.56 |
Comparison With Peers:
| Peers | Revenue | Revenue growth in 3 years | PAT Growth | EBITDA | OPM | PAT | RONW | PAT( 3 years) | CFO(3 years) | Mcap | P/E | Return ( 1year) |
| Prince Pipe | 1578 | 8.84% | 6.68% | 193 | 12% | 83.2 | 12.20% | 229 | 478 | 1938 | 23.54 | |
| Finolex Industries | 3132 | 9.21% | 1.82% | 645 | 21% | 353 | 13.90% | 987 | 996 | 6840 | 19.81 | 11.11% |
| Astral Poly Technik | 2522 | 15.12% | 15.18% | 401 | 16% | 200 | 15.66% | 525 | 605 | 17619 | 73 | 40% |
| Supreme Industry | 5619 | 12.16% | 9.16% | 785 | 13.9% | 434 | 20.10% | 1309 | 1628 | 14343 | 34 | 14.50% |
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Prince Pipes and Fittings IPO Dates & Price Band:
Prince Pipes IPO Dates & Price Band:
| IPO Open: | 18-December-2019 |
| IPO Close: | 20-December-2019 |
| IPO Size: | Approx ₹500 Crore (Approx) |
| Face Value: | ₹10 Per Equity Share |
| Price Band: | ₹177 to ₹178 Per Share |
| Listing on: | BSE & NSE |
| Retail Portion: | 35% |
| Equity: | 30,00,000 Shares |
Prince Pipes IPO Market Lot:
| Lot Size: | Minimum 84 Shares & Maximum 1092 Shares |
| Minimum Amount: | ₹14952 |
| Maximum Amount: | ₹194376 |
Prince Pipes IPO Allotment & Listing:
| Basis of Allotment: | Dec 26, 2019 |
| Refunds: | Dec 27, 2019 |
| Credit to Demat Account: | Dec 30, 2019 |
| Listing Date: | Dec 31, 2019 |
Prince Pipes IPO GMP (Grey Market Premium) rates
Prince Pipes IPO Grey market premium as of today is ₹15-20, Kostak ₹350-400 & Subject to Sauda is ₹2000.
How to Apply for Ujjivan Small Finance Bank IPO?
If you have a Demat account, most banks offer the online IPO application. You can also contact the broker to apply for in USFB IPO?
Most banks including the SBI bank, ICICI Bank, Axis, and Kotak bank allow the customer to apply in IPO using the Demat account.
- How to Apply Prince Pipes IPO Online through ASBA?
- How to Apply IPO through Zerodha KITE Using UPI?
- How to Apply Prince Pipes IPO through SBI Net Banking?
Prince Pipes and Fittings IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Prince Pipes IPO Lead Managers
| Lead Managers |
| JM Financial Institutional Securities LimitedEdelweiss Financial Services Limited |
Prince Pipes IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, India Tel: +91 22 49186200; Fax: +91 22 4918 6195 Website: www.linkintime.co.in Email: electra.ipo@linkintime.co.in Investor Grievance Id: electra.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Company Address:
Registered Office: Plot No.1, Honda Industrial Estate, Phase II, Honda Sattari, Honda, Goa 403 530, India
Corporate Office: 8th Floor, Mumbai 400 028
Telephone: +91 22 66022222;
Facsimile: +91 22 66022220
E-mail: investor@princepipes.com;
Website: www.princepipes.com.
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Valuation and Recommendation
At the higher price band of Rs 178 and on the expanded equity base, considering the IPO, the offer is demanding market cap to sales (FY19) of 1.25 times, which is one of the lowest in the industry. In terms of PE, the offer is made at around 23.54 times its FY2019 on a post-issue equity share capital of around Rs 11 crore at the face value of Rs 10 each. Other established players, such as Finolex industries, are available at PE of 20 times.
The return ratios of Prince Pipes are comparable with other listed players in the industry. For example, RoCE and ROEs of the company for FY19 were at 22.6 percent and 20.5 percent, respectively.
Looking at the current vibrant IPO market, we believe that the issue is fairly priced and one can subscribe only for listing gains. Long term investors can wait for the price to settle down after listing to commit to any fund.
Frequently Asked Questions
Prince Pipes IPO is a main-board initial public offering of 28,248,586 equity shares of the face value of ₹10 aggregating up to ₹500.00 Crores.
The issue price of the IPO is ₹177 to ₹178 Per Equity Share. The minimum order quantity is 84 Shares per application and the offer type is Book Built Issue.
The IPO opens on Dec 18, 2019 and closes on Dec 20, 2019.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Prince Pipes IPO opens on Dec 18, 2019 and closes on Dec 20, 2019.
Prince Pipes IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.
The finalization of Basis of Allotment for Prince Pipes IPO will be done on Dec 26, 2019, and the allotted shares will be credited to your demat account by Dec 30, 2019. Check the Prince Pipes IPO allotment status.
The Prince Pipes IPO listing date is not yet announced. The tentative date of Prince Pipes IPO listing is Dec 31, 2019.
Prince Pipes IPO lot size is 84 Shares and the minimum order quantity is 84 Shares.