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Prince Pipes and Fittings Ltd IPO (Prince Pipes IPO) Detail

Dec 18, 2019 - Dec 20, 2019

Incorporated in 1987, Mumbai based Prince Pipes and Fittings Limited is engaged in 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.

Prince Pipes provides an end to end solutions across a wide product range (7,480 SKUs as on 30th June 2018). It has 5 manufacturing units located at Haridwar (Uttarakhand), Athal (Dadra and Nagar Haveli), Dadra (Dadra and Nagar Haveli), Kolhapur (Maharashtra) and Chennai (Tamil Nadu). Besides, two contract manufacturing units are located at Hajipur (Bihar) and Aurangabad (Maharashtra).

The company is also planning to open two manufacturing units at Jobner (Rajasthan) and Sangareddy (Telangana). Prince Pipes and Fittings Ltd has 10 warehouses to store the products. The company sells the products under Prince Piping Systems brand name to 843 distributors which further sell them to wholesalers, retailers and plumbers. The products under Trubore are directly sold to 212 wholesalers and retailers.

Competitive Strengths

  • Strong brand presence in pipes and fittings segment
  • Diverse product portfolio
  • Multi-location manufacturing units in India
  • A strong presence in North, West and South India
  • A pan-India network of distributors
  • Technical collaboration with international players to maintain quality of products

Company Promoters:

Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda, Vipul Jayant Chheda and Heena Parag Chheda are the promoters of the company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (Rs in Millions)
Three months period
ended on 30-June-2019
31-Mar-19 31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 10,144.57 10,404.13 9,798.77 7,605.05 6,533.00
Total Revenue 3,801.92 15,789.95 13,265.71 13,324.95 10,816.18
Profit After Tax 266.69 833.51 727.66 741.82 295.35

Objects of the Issue:

The details of utilization of the proceeds of the Fresh Issue are summarized below:

1. Repayment or prepayment of certain outstanding loans of the company;
2. Financing the project cost towards establishment of a new manufacturing facility;
3. Upgradation of equipment at the manufacturing facilities; and
4. General corporate purposes, subject to the applicable laws.

Prince Pipes IPO Details

IPO Opening Date Dec 18, 2019
IPO Closing Date Dec 20, 2019
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹177 to ₹178 per equity share
Market Lot 84 Shares
Min Order Quantity 84 Shares
Listing At BSE, NSE
Issue Size28,248,586 Eq Shares of ₹10
(aggregating up to ₹500.00 Cr)
Fresh Issue[.] Eq Shares of ₹10
(aggregating up to ₹250.00 Cr)
Offer for Sale[.] Eq Shares of ₹10
(aggregating up to ₹250.00 Cr)
P/E (x)18.35

Prince Pipes IPO Tentative Timetable

The Prince Pipes IPO open date is Dec 18, 2019, and the close date is Dec 20, 2019. The issue may list on Dec 30, 2019.

IPO Open Date Dec 18, 2019
IPO Close Date Dec 20, 2019
Basis of Allotment Date Dec 26, 2019
Initiation of Refunds Dec 27, 2019
Credit of Shares to Demat Account Dec 30, 2019
IPO Listing Date Dec 30, 2019

Prince Pipes IPO Lot Size

The Prince Pipes IPO market lot size is 84 shares. A retail-individual investor can apply for up to 13 lots (1092 shares or ₹194,376).

Application Lots Shares Amount (Cut-off)
Minimum 1 84 ₹14,952
Maximum 13 1092 ₹194,376

Prince Pipes IPO Promoter Holding

Pre Issue Share Holding 90.06%
Post Issue Share Holding 65.80%

    Note:

  • Pre-IPO Placement: 5,965,000 equity shares (aggregating up to Rs 106.18 crore)
  • Investor Portion- QIB: 50% of the issue; NIB: 15% of the issue; Retail: 35% of the issue
  • Anchor bidding date: 17th Dec 2019

Prince Pipes IPO Review

In the light of tough competition from major players as well as unorganized sectors, PPFL is witnessing pressure on margins. Considering prospects for polymer piping segment going forward, cash surplus - risk savvy investors may consider investment on their own risks. Read detail review...

Prince Pipes IPO Subscription Status (Bidding Detail)

The Prince Pipes IPO is subscribed 2.21 times on 12/20/2019 5:00:01 PM. The public issue subscribed 1.89 times in the retail category, 3.54 times in the QIB category, and 1.21 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB3.54
NII1.21
Retail1.89
Total2.21

Prince Pipes IPO Prospectus

Prince Pipes IPO Rating

1664
3.9
Rating:Rated 3.9 stars
Vote Here ...

Prince Pipes IPO Listing Date

Listing Date Monday, December 30, 2019
BSE Script Code 542907
NSE Symbol PRINCEPIPE
Listing In B Group of Securities
ISIN INE689W01016
IPO Price ₹178 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹178.00
₹160.00
₹152.60
₹177.95
₹166.60
NSE
₹178.00
₹160.00
₹152.50
₹177.90
₹166.90

Company Contact Information

Prince Pipes and Fittings Ltd
Plot No.1, Honda Industrial Estate,
Phase II, Honda Sattari,
Honda, Goa 403 530, India
Phone: +91 22 66022222
Email: investor@princepipes.com
Website: https://princepipes.com/

Prince Pipes IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: princepipes.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Prince Pipes IPO FAQs

Prince Pipes IPO is a main-board IPO of 28,248,586 equity shares of the face value of ₹10 aggregating up to ₹500.00 Crores. The issue is priced at ₹177 to ₹178 per equity share. The minimum order quantity is 84 Shares.

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 lot size is 84 Shares and the minimum order quantity is 84 Shares.

You can apply in Prince Pipes IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

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 on Monday, December 30, 2019.

Prince Pipes IPO Message Board

Ranked Members  Ranked Members

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1195 Comments

484. Shy Investor |Jan 22, 2020 4:13:23 PM
Price Band Rs.72- Rs.77.
Current price is Rs.98.80
483. sumit kumar bucha |Jan 18, 2020 12:04:39 AM
205........ next day......... buy-buy-only buy............................sell at 215 to 225
483.1. Rahul Wgl |Jan 18, 2020 8:23:37 AM
None of the posts by you came true, yet hoping that this might turn Out Of The Blue.
482. Rahul Wgl |Jan 16, 2020 10:15:32 AM
Yes, Its above 180 now, hence proved nobody is the master of the market..
482.1. Rahul Popat |Jan 16, 2020 10:42:33 AM
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Hope u get good exit opportunity....

Many are not get this.........in many stocks....

U r right no one perfect but we can predict...many time its wrong o.w.....

Hold your remaining qty with strict stop loss....
482.2. Rahul Wgl |Jan 16, 2020 10:52:03 AM
@Rahul Popat, done bro. Sold 50% shares at 180 & held the remaining. Thanx for ur suggestions from time to time
481. Rahul Popat |Jan 12, 2020 7:38:53 PM
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
I think on monday price above the ipo price so reduce your risk...

Hold only shares for which you can earn profit
481.1. Rahul Wgl |Jan 12, 2020 9:48:09 PM
I am Ready to Follow as advised by you, fingers crossed for better price tommorow.
481.2. Rahul Popat |Jan 15, 2020 7:02:24 PM
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
@rahul wgl

Hold it if cross price ipo fast up move....

Huge buying news coming in news.....

Hold but sell your 80-85% holdiing near ipo price...is advisable...
480. subramanya bhatt |Jan 13, 2020 5:01:06 PM
Good that prince pipe is recovering.likely to cross 200 and settle near 212 before moving further.
480.1. Rahul Wgl |Jan 14, 2020 7:05:05 PM
yeah, hoping for the 200 and above movement at the earliest, I still hold all the allotted shares, after the disaster listing.
479. Roxpatel |Jan 13, 2020 11:39:36 AM
Top Contributor Top Contributor (300+ Posts, 400+ Likes)
It seems 200 is near
479.1. Rahul Wgl |Jan 13, 2020 11:41:10 AM
it seems obvious bro.
478. STK EXCHANGE |Jan 12, 2020 4:13:14 PM
Exit as promoters have tied with some ppl on interest terms .
477. ipoupdates |Jan 11, 2020 11:45:17 AM
It seems that prince pipes will be above IPO price soon.
476. yashsingal |Jan 5, 2020 10:58:15 PM
@Admin can you please let me know how do i delete my account from this site? unable to find that option.
For sure this forum is useless for new users. Thanks in advance.
476.6. SivaMDU |Jan 6, 2020 9:52:40 PM
I support the feature added by admin in the interest of novice investors. I found that experienced members are responding for most of the doubts as far as possible. Problem is that same question in different flavour are being asked and answer for the same could have been obtained by reading some old messages, like SBI card SH quota doubt. Anyway, how a matter is taken vary from person to person. I appreciate the support/help of admin and fellow members.
476.7. A.K. Goyal |Jan 7, 2020 10:49:40 AM
Good action by admin
475. Arjun n |Jan 6, 2020 1:39:56 PM
Well said Mr Yash, 16 lac crore for irrigation. but market is not reacting in that way
474. yashsingal |Jan 1, 2020 12:23:15 AM
16 lac crores for irrigation and agri projects and also govt is encouraging infra projects, this is sure shot a winner in 1 or 2 years.

Note : just my view, nothing else. I'm invested in this with one lot allotment and added few shares at 150.
474.23. Junglee |Jan 3, 2020 6:01:03 PM
by these I mean Prince type of stocks
474.24. yashsingal |Jan 3, 2020 7:36:56 PM
I mostly have quality mid cap stocks and exit them then and there when my target is acheived, coming to prince pipes i applied to this just to check if I'm filling the ASBA application correct and getting the shares into the demat. Now that i got this .. i can be more sure while applying for SBI Cards ipo and other makor ipo's lined up.
473. Medge |Jan 1, 2020 5:44:17 PM
IPO Guru IPO Guru (1000+ Posts, 1700+ Likes)
We should not waist energy in this counter, this IPO is totally failed, stock may correct another 20-25 points, bounce it's only depending on next company results.
Even they have cleared pledged shares but this is still not debt free company.
In domestic market prince products already facing tough competition from other well known brands.
So expecting too much in long term also will be doughtful.
473.1. Medge |Jan 1, 2020 5:49:43 PM
IPO Guru IPO Guru (1000+ Posts, 1700+ Likes)
Pls read waist as waste ????.
473.2. Gautam Prakash Mulye |Jan 3, 2020 4:26:06 PM
Yes Prince is failed.
Promoter credibility and pledge and litigation are severe issues. And Once Green Mkt Mechanism period of 15 days gets over, expect severe selling in Prince Pipes and expect it to slide in two digits.
472. Siva mallam |Dec 29, 2019 2:43:23 PM
what would be the best strategy tomorrow to minimize my loss , I have 1 lot with me ( assuming it is listing at discount)

1. Should I exit immediately at listing price .
2. Since I have 1 lot should I sell at listing price and buyback at closing price. ( shorting)
3. Should I acquire more, I don't think this is logical at this point .

Kindly guide me
472.29. Siva mallam |Jan 2, 2020 1:49:05 PM
7% up again !! ok news is out 1800 cr broadband order from Hyderabad ... Since we all doubted your call and missed it

can I add few now ? it has stll some gas left ?
472.30. Gautam Prakash Mulye |Jan 3, 2020 9:38:40 AM
Sterlite tech continues to Rock..

See short term k a i cant say as may be it can come back 120-122 but long term end of 2020 it will be 200+
471. Symon |Dec 31, 2019 3:35:09 PM
Downwrite vi abhi kya karna he kuch samaj me nahi aa raha
471.6. DownriteVJ |Jan 1, 2020 2:45:56 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Bro, I said another 15-20% (from that level) and not at 160.
471.7. DownriteVJ |Jan 1, 2020 2:47:20 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
@yash - 200 is totally on how company works in this year (we assume that they do good) else forget that
470. Dhavalbhavsarahmedabad |Jan 1, 2020 12:09:03 AM
નવા વર્ષના વધામણાં
469. Satoshi Nakamoto |Dec 31, 2019 8:37:58 PM
Promoters paid Rs.200 cr in escrow account and there is no pledge on shares

https://economictimes.indiatimes.com/markets/stocks/news/prince-pipes-promoters-repay-rs-200-crore-loan-in-escrow-no-pledge-or-encumbrance-on-shares/articleshow/73048968.cms
469.6. yashsingal |Dec 31, 2019 10:13:03 PM
@Medge because of this news was pre decided many firms gave subscribe to this ipo, but i don't think this has been considered for the listing and may show an upmove tomorrow since it is confirmed around today afternoon. I'm expecting an upmove.
469.7. Johny |Dec 31, 2019 11:53:24 PM
IPO Mentor IPO Mentor (600+ Posts, 800+ Likes)
This news may make difference because it was being compared with SWSolar and it was being assumed that ofs money will not be used as it was supposed to be used.
468. yashsingal |Dec 31, 2019 9:12:48 AM
Negative opening for prince pipes same as yesterday. Don't know if it will be able to cross its issue price or not..
468.1. bulls eyes |Dec 31, 2019 10:32:09 PM
it will bounce back surely tomorrow onwards..don't worry..
468.2. yashsingal |Dec 31, 2019 10:35:41 PM
yeah even i added few shares at 150 level. Hope it bounces and goes up to 200+ levels in near time.
467. Medge |Dec 31, 2019 10:07:38 PM
IPO Guru IPO Guru (1000+ Posts, 1700+ Likes)
Morgan stanley unload prince pipes shares worth rs 10.5 crore.
467.1. yashsingal |Dec 31, 2019 10:10:50 PM
and on the other side promoters recover their pledged shares by paying 200 crores, positive news along with negative news.
467.2. Medge |Dec 31, 2019 10:13:19 PM
IPO Guru IPO Guru (1000+ Posts, 1700+ Likes)
Source moneycontrol

Morgan Stanley Asia (Singapore) Pte sold more than 6 lakh shares of Prince Pipes and Fittings on December 31, as per bulk deals data available on the National Stock Exchange.

Morgan Stanley Asia (Singapore) Pte offloaded 0.60 percent or 6,57,630 shares of the company at Rs 160.52 per share, which amounted to Rs 10.55 crore.
466. Dr. Jan Itor |Dec 31, 2019 7:57:16 PM
Booked loss with complete exit. Last time it was Indostar Capital jisne dubaya tha. Anyway, chalta hai. Part of being in the market.
Btw after I sell, shares tend to rise. Just letting interested people know. ;)
466.1. Dr. Jan Itor |Jan 15, 2020 5:17:15 AM
Was I right or was I right? All the best for those still stuck. You may be rewarded. :D
466.2. Dr. Jan Itor |Jan 16, 2020 7:36:22 PM
I hope over-leveraged people have partly sold and got some relief. All the best for investing 2020.
465. Dhavalbhavsarahmedabad |Dec 31, 2019 6:27:49 PM
BUY TOMORROW .... IF BELOW 149.50 SOLD IT... Rebounse and target 175....