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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 (₹ 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 DateDec 18, 2019 - Dec 20, 2019
Issue TypeBook Built Issue IPO
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)
Face Value₹10 Per Equity Share
IPO Price₹177 to ₹178 Per Equity Share
Market Lot84 Shares
Min Order Quantity84 Shares
Listing AtBSE, NSE
P/E (x)18.35

Prince Pipes IPO Tentative Date / Timetable

Bid/Offer Opens OnDec 18, 2019
Bid/Offer Closes OnDec 20, 2019
Finalisation of Basis of AllotmentDec 26, 2019
Initiation of RefundsDec 27, 2019
Credit of Shares to Demat AcctDec 30, 2019
IPO Shares Listing DateDec 30, 2019

Prince Pipes IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum184₹14,952
Maximum131092₹194,376

Prince Pipes IPO Promoter Holding

Pre Issue Share Holding90.06%
Post Issue Share Holding65.80%

    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 Subscription Status (Bidding Detail)

Prince Pipes IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Total

Shares Offered

5,649,718

4,237,288

9,887,006

19,774,012

Dec 20, 2019 17:00

3.54x

1.21x

1.89x

2.21x

Prince Pipes IPO Prospectus

Prince Pipes IPO Rating

1664
3.9
Rating:Rated 3.9 stars

Vote Here ...

Prince Pipes IPO Listing Date

Listing DateMonday, December 30, 2019
BSE Script Code542907
NSE SymbolPRINCEPIPE
Listing InB
ISININE689W01016
IPO Price₹178 Per Equity Share
Face Value₹10 Per Equity Share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹178.00
₹160.00
₹152.60
₹177.95
₹166.60
2,036,657
NSE
₹178.00
₹160.00
₹152.50
₹177.90
₹166.90
21,159,947

Prince Pipes IPO Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

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

Prince Pipes IPO FAQs

  1. 1. What is Prince Pipes IPO?

    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 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.

  2. 2. When Prince Pipes IPO will open?

    The Prince Pipes IPO opens on Dec 18, 2019 and closes on Dec 20, 2019.

  3. 3. How to apply for Prince Pipes IPO?

    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.

  4. 4. When Prince Pipes IPO allotment?

    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.

  5. 5. When is Prince Pipes IPO listing date?

    The Prince Pipes IPO listing date is on Monday, December 30, 2019, at BSE, NSE.
  6. 6. What is the lot size of Prince Pipes IPO?

    Prince Pipes IPO lot size is 84 Shares and the minimum order quantity is 84 Shares.

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Prince Pipes IPO Review / Comments

Shy Investor
484. Shy Investor  Jan 22, 2020 15:13
Price Band Rs.72- Rs.77.
Current price is Rs.98.80
sumit kumar bucha
483. sumit kumar bucha  Jan 17, 2020 23:04
205........ next day......... buy-buy-only buy............................sell at 215 to 225
Rahul Wgl
483.1. Rahul Wgl  Jan 18, 2020 07:23
None of the posts by you came true, yet hoping that this might turn Out Of The Blue.
Rahul Wgl
482. Rahul Wgl  Jan 16, 2020 09:15
Yes, Its above 180 now, hence proved nobody is the master of the market..
Rahul Popat
482.1. Rahul Popat  Jan 16, 2020 09:42
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....
Rahul Wgl
482.2. Rahul Wgl  Jan 16, 2020 09:52
@Rahul Popat, done bro. Sold 50% shares at 180 & held the remaining. Thanx for ur suggestions from time to time
Rahul Popat
481. Rahul Popat  Jan 12, 2020 18:38
I think on monday price above the ipo price so reduce your risk...

Hold only shares for which you can earn profit
Rahul Wgl
481.1. Rahul Wgl  Jan 12, 2020 20:48
I am Ready to Follow as advised by you, fingers crossed for better price tommorow.
Rahul Popat
481.2. Rahul Popat  Jan 15, 2020 18:02
@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...
subramanya bhatt
480. subramanya bhatt  Jan 13, 2020 16:01
Good that prince pipe is recovering.likely to cross 200 and settle near 212 before moving further.
Rahul Wgl
480.1. Rahul Wgl  Jan 14, 2020 18:05
yeah, hoping for the 200 and above movement at the earliest, I still hold all the allotted shares, after the disaster listing.
Roxpatel
479. Roxpatel  Jan 13, 2020 10:39
It seems 200 is near
Rahul Wgl
479.1. Rahul Wgl  Jan 13, 2020 10:41
it seems obvious bro.
STK EXCHANGE
478. STK EXCHANGE  Jan 12, 2020 15:13
Exit as promoters have tied with some ppl on interest terms .
ipoupdates
477. ipoupdates  Jan 11, 2020 10:45
It seems that prince pipes will be above IPO price soon.
yashsingal
476. yashsingal  Jan 5, 2020 21:58
@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.
SivaMDU
476.6. SivaMDU  Jan 6, 2020 20:52
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.
A.K. Goyal
476.7. A.K. Goyal  Jan 7, 2020 09:49
Good action by admin
Arjun n
475. Arjun n  Jan 6, 2020 12:39
Well said Mr Yash, 16 lac crore for irrigation. but market is not reacting in that way
yashsingal
474. yashsingal  Dec 31, 2019 23:23
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.
Junglee
474.23. Junglee  Jan 3, 2020 17:01
by these I mean Prince type of stocks
yashsingal
474.24. yashsingal  Jan 3, 2020 18:36
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.
Medge
473. Medge  Jan 1, 2020 16:44
IPO Mentor IPO Mentor (700+ Posts, 1200+ 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.
Medge
473.1. Medge  Jan 1, 2020 16:49
IPO Mentor IPO Mentor (700+ Posts, 1200+ Likes)
Pls read waist as waste 😅.
Gautam Prakash Mulye
473.2. Gautam Prakash Mulye  Jan 3, 2020 15:26
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.
Siva mallam
472. Siva mallam  Dec 29, 2019 13:43
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
Siva mallam
472.29. Siva mallam  Jan 2, 2020 12:49
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 ?
Gautam Prakash Mulye
472.30. Gautam Prakash Mulye  Jan 3, 2020 08:38
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+
Symon
471. Symon  Dec 31, 2019 14:35
Downwrite vi abhi kya karna he kuch samaj me nahi aa raha
DownriteVJ
471.6. DownriteVJ  Jan 1, 2020 13:45
IPO Guru IPO Guru (1200+ Posts, 1100+ Likes)
Bro, I said another 15-20% (from that level) and not at 160.
DownriteVJ
471.7. DownriteVJ  Jan 1, 2020 13:47
IPO Guru IPO Guru (1200+ Posts, 1100+ Likes)
@yash - 200 is totally on how company works in this year (we assume that they do good) else forget that
Dhavalbhavsarahmedabad
470. Dhavalbhavsarahmedabad  Dec 31, 2019 23:09
નવા વર્ષના વધામણાં
yashsingal
469.6. yashsingal  Dec 31, 2019 21:13
@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.
Johny
469.7. Johny  Dec 31, 2019 22:53
Top Contributor Top Contributor (300+ Posts, 400+ 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.
yashsingal
468. yashsingal  Dec 31, 2019 08:12
Negative opening for prince pipes same as yesterday. Don't know if it will be able to cross its issue price or not..
bulls eyes
468.1. bulls eyes  Dec 31, 2019 21:32
it will bounce back surely tomorrow onwards..don't worry..
yashsingal
468.2. yashsingal  Dec 31, 2019 21:35
yeah even i added few shares at 150 level. Hope it bounces and goes up to 200+ levels in near time.
Medge
467. Medge  Dec 31, 2019 21:07
IPO Mentor IPO Mentor (700+ Posts, 1200+ Likes)
Morgan stanley unload prince pipes shares worth rs 10.5 crore.
yashsingal
467.1. yashsingal  Dec 31, 2019 21:10
and on the other side promoters recover their pledged shares by paying 200 crores, positive news along with negative news.
Medge
467.2. Medge  Dec 31, 2019 21:13
IPO Mentor IPO Mentor (700+ Posts, 1200+ 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.
Dr. Jan Itor
466. Dr. Jan Itor  Dec 31, 2019 18:57
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. ;)
Dr. Jan Itor
466.1. Dr. Jan Itor  Jan 15, 2020 04:17
Was I right or was I right? All the best for those still stuck. You may be rewarded. :D
Dr. Jan Itor
466.2. Dr. Jan Itor  Jan 16, 2020 18:36
I hope over-leveraged people have partly sold and got some relief. All the best for investing 2020.
Dhavalbhavsarahmedabad
465. Dhavalbhavsarahmedabad  Dec 31, 2019 17:27
BUY TOMORROW .... IF BELOW 149.50 SOLD IT... Rebounse and target 175....






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