Prince Pipes plans to raise about Rs 500 cr through IPO

Mumbai: Prince Pipes and Fittings, India’s third-largest PVC pipes manufacturer, is planning to raise about Rs 500 crore through an initial public offer (IPO) next week. The issue of the Mumbai-based Prince Pipes will open for subscription between Wednesday December 18 and Friday December 20.

The issue comprising a Rs 250 crore fresh issue and an equal amount of offer for sale has been fixed at a price band of Rs 177 to Rs 178 per share.

The minimum bid lot is 84 equity shares and in multiples of the same thereafter. The offer is being made through the book-building process and 50% of the offer shall be available for allocation to qualified institutional buyers.


For the year ended March 30, 2019, the company has reported a revenue of Rs 1,579 crore, a jump of 18% over previous financial year. Company’s net profit grew by 17% in FY19 to Rs 111.46 crore.