Malpani Pipes IPO Set to Launch: Key Details

Malpani Pipes And Fittings Ltd set an IPO price between Rs 85-90, aiming to raise Rs 25.92 crore. Shares will list on the BSE's SME platform. The funds will support machinery acquisition, debt repayment, and operational expenditures. The firm specializes in various high-quality pipes for several industries.

Malpani Pipes And Fittings Ltd announced on Tuesday the pricing for its initial public offering (IPO), setting a price band of Rs 85-90 per share. The IPO seeks to raise approximately Rs 26 crore and is scheduled to open on January 29.

The company aims to gather up to Rs 25.92 crore at the top end of the price range. Investors can participate in the IPO until January 31 with a bid requirement for a minimum of 1,600 shares in multiples thereof. The shares will be listed on the BSE's SME platform.

The IPO is entirely made up of a fresh issue of 28.80 lakh equity shares. Proceeds are intended for purchasing machinery, repaying debts, and meeting working capital and other corporate needs. With the Volstar brand, Malpani Pipes manufactures various pipes and operates in the irrigation, telecommunications, and infrastructure industries.

(With inputs from agencies.)