Malpani Pipes & Fittings Ltd

Malpani Pipes & Fittings will hold a meeting of the Board of Directors of the Company on 29 May 2025.Powered by Capital Market - Live

The scrip was listed at Rs 85.90, at a discount of 4.56% compared with the initial public offer (IPO) price. The stock was currently down 2.8% over its listing price. The counter hit a high of Rs 90 and a low of Rs 81.61. About 6.40 lakh shares of the company changed hands at the counter. The initial public offer (IPO) of Malpani Pipes and Fittings was subscribed 136.90 times. The issue opened for bidding on 29 January 2025, and it closed on 31 January 2025. The price band of the IPO was set at Rs 85 to Rs 90 per share. The IPO comprised a fresh issue of 28,80,000 shares. The promoter and promoter group shareholding diluted to 73.28% from 100% pre-IPO. The company intends to utilize the net proceeds for capital expenditure for plant and machinery, repayment of loans, and for general corporate purposes. Ahead of the IPO, Malpani Pipes and Fittings raised Rs 72 lakh from anchor investors on 28 January 2025. The board allotted 8 lakh shares at Rs 90 per share to 7 anchor investors. Malpani Pipes and Fittings is engaged in manufacturing high-grade plastic pipes. The company offers high-density polyethylene (HDPE) pipes, medium-density polyethylene (MDPE) pipes, and linear low-density polyethylene (LLDPE) pipes, all marketed under its brand name Volstar.. Additionally, the company is involved in trading granules and PVC pipes, along with selling various services. The company's pipes are designed for irrigation, water supply, sewerage, drainage, boreholes, tube wells, and infrastructure projects like electrical cable and optical fiber installations. As of 31 December 2024, the company had 51 full-time employees and 30 contract-based employees. The company recorded revenue from operations of Rs 84.09 crore and net profit of Rs 5.09 crore for the period as on 30 November 2024. Powered by Capital Market - Live