Prince Pipes and Fittings Limited IPO – Review, Listing
Update:
Prince Pipes and Fittings: Listing
One of the prominent Polymer Pipes and Fittings manufacturers in India, Prince Pipes Limited had a weak debut with a 10 percent discount to its IPO price.
The stock opened at INR 160 on the National Stock Exchange and Bombay Stock Exchange, against the issue price of INR 178 per share.
The Stock made a high of INR 177.90 and a low of INR 152.50 before it ended at INR 166.90 on the NSE when the market closed.
In terms of volumes, Prince Pipes Limited traded with 21,159,947 shares on the NSE.
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14 December, 2019
Prince Pipes and Fittings Limited – renowned as one of the prominent Polymer Pipes and Fittings manufacturers in India “in terms of number of distributors” (Source: CRISIL Research Report) is planning to raise INR 500 Cr via IPO [250 Cr Fresh Issue + 250 Cr OFS]
prince pipes and fittings ipo date : 18 December to 20 December 2019
Prince Pipes and Fittings: Profile
Incorporated in the year 1987, Mumbai based Prince Pipes and Fittings Ltd is engaged in the manufacturing of polymer pipes and fittings. The Company has more than 30 years of experience in the polymer pipes segment.
Company Aim: With the use of “Zero Defect Manufacturing Process” to create extremely efficient piping systems, Prince Pipes and Fitting aims at low-cost, non-contaminated water transport in every part of the country.
prince pipes ipo price is INR 178 per share
The Company advertise and sale its products under two “Brand Names”
- Prince Piping Systems; and
- Trubore
The Company’s products are used for varied applications in
- Plumbing,
- Irrigation, and Soil,
- Waste and Rainwater (SWR) management
Prince Pipes and Fittings: Products
The Company currently manufactures polymer pipes using 4 different polymers and fittings using 3 different polymers; such as UPVC; CPVC, and PPR.
- UPVC Pipes: UPVC pipes find its application in agriculture and plumbing for portable water supply and sewerage. Features such as affordability and longer life compared with metal pipes have aided this segment.
- CPVC Pipes: These pipes are primarily used in plumbing applications, as well as hot and cold, potable water distribution systems. CPVC pipes in India are still at a nascent stage and have huge potential due to factors such as longevity, corrosion-free, fire-resistant, being lead-free, and the ability to withstand high temperatures.
- PPR Pipes: These pipes are used for various industrial purposes and are relatively costly compared with other plastic pipes.
- HDPE Pipes: HDPE pipes are used in the irrigation sector, sewerage and drainage, city-gas distribution and in chemical and processing industries. These pipes have been gaining prominence over traditional metal and cement pipes, due to durability, low maintenance, and longevity versus metal pipes. These pipes, which are used for various industrial purposes, are relatively costly compared with other plastic pipes.
Prince Pipes and Fittings: Manufacturing Plants
The Company has five strategically located manufacturing plants, which has enabled it to develop a strong presence in North, West and South India. Its plants are located at –
- Athal (Union Territory of Dadra and Nagar Haveli)
- Dadra (Union Territory of Dadra and Nagar Haveli)
- Chennai (Tamil Nadu),
- Haridwar (Uttarakhand)
- Kolhapur (Maharashtra)
The total installed capacity of its five existing plants is 242,916 tonnes per annum as of July 31, 2018.
The Company is also planning to set up two more manufacturing plants, one in Jobner, Rajasthan (with an installed capacity of 40,621 tonnes per annum) and the other in Sangareddy, Telangana (with an installed capacity of 52,242 tonnes per annum)
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Network
With a united network of 1,055 distributors (which includes 843 Prince Distributors and 212 Trubore Distributors), Prince Pipes is continually expanding its pan-India distributor base to make sure it is always close to its clients and ever ready to address their needs.
Company Strengths
- Strong brands name in the “pipes and fittings” segment
- Comprehensive product portfolio across polymers serving
- Strategically placed manufacturing plants with a core focus on quality
- Large and growing distribution network
- Technical collaboration with a reputed international player
- Strong management team
Company Promoters
Jayant Shamji Chheda,
Tarla Jayant Chheda,
Parag Jayant Chheda,
Vipul Jayant Chheda, and
Heena Parag Chheda
IPO Opening / Closing Date
IPO Details – Price, Minimum Bid and Other
Financial Performance
CONCLUSION
Considering company’s valuation, financial parameters, and the sector potential, FinBlab recommends NEUTRAL ratings on Prince Pipes and Fittings Ltd IPO
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