Malpani Pipes shares to debut today. GMP hints at marginal gains

The shares of Malpani Pipes And Fittings will debut on the BSE SME platform on Tuesday. Ahead of the listing, the company's GMP indicates a muted start at the bourse.

In the grey market, Malpani Pipes GMP is around Rs 2, which is a marginal premium of 2% over the issue price. The IPO was offered to investors at Rs 90 apiece.

However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.


The IPO, which was completely a fresh equity sale of 28.8 lakh shares, was subscribed over 140 times at close.

Malpani Pipes makes high and low density polyethylene pipes, all marketed under the brand name Volstar. The company is also engaged in the trading of granules and PVC pipes, as well as the sale of services.

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It has a manufacturing plant located in central India, which is well equipped with essential machinery, infrastructure, and an in-house testing facility.

Since the inception in 2017, the company has grown significantly from starting with just two machines for pipe manufacturing. It now operates 10 production lines with a total installed capacity of 11,500 mtpa and has expanded the product range to include MDPE, LLDPE, Sprinkler Pipes, and Drip Pipes.

Malani Pipes distributes its products to both wholesalers and retailers. Additionally, it supplies pipes for government projects through authorised contractors involved in local, state or federal development schemes. The company also supplies pipes to farmers in terms of farmer welfare policies launched by governments.

The pipes the company makes are also well-suited for boreholes and tube wells for underground water extraction. Furthermore, the company's products support infrastructure projects such as the installation of long-distance electrical cables and optical fibers.

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