Prince Pipes and Fittings IPO – Review, Allotment, Subscription, GMP & DRHP

Prince Pipes and Fittings Private Limited  is recognized as one of the leading polymer pipes and fittings manufacturers in India in terms of production capacity, number of distributors, and number and variety of products manufactured. Prince Pipes and Fittings IPO comprises of X Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Prince Pipes and Fittings IPO release date, IPO offer price, subscription, Prince Pipes and Fittings IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Prince Pipes and Fittings IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Prince Pipes and Fittings IPO

Prince Pipes and Fittings IPOPrince Pipes and Fittings Private Limited  Company is recognized as one of the leading polymer pipes and fittings manufacturers in India in terms of production capacity, number of distributors, and number and variety of products manufacturer. The Company market its products under two brand names: Prince Piping Systems; and Trubore Piping Systems. Due to their comprehensive product range, the Company is positioned as an end-to-end polymer piping systems solution provider .The Issue comprises of a Public Issue of  O [●] Equity shares of face value of Rs.10.00 each fully paid  up aggregating to Rs.5000 million.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 23.86% and 5.41%, respectively.

For the period ended March 31, 2017, FY 2016-15 and FY 2015-14, its revenue from operations was Rs.12,625.80Millions, Rs. 10,089.87Millions and Rs.  9,571.9 Millions, respectively representing growth of  23.86% from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2017, FY 2016-15 and FY 2015-14 their net profit was Rs. 954.83  Millions, Rs.365.86 Millions and Rs. 178.30 Millions, respectively, representing a growth of  160.9 % from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017 the Other Income of their company increased to Rs.12.87 Millions as against Rs. 5.61 Millions for the financial year 2016-15, representing increase by 129.41% due to increase in interest income & insurance claim in FY 2017- 16.
  • Company’s Net Profit after tax for the year 2016-17 is Rs. 743.62 Millions from the year 2015-16 of Rs.293.63 Millions showing an increase of 687.26% from last year, showing remarkable performance.

The Promoter of this company is Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda, Vipul Jayant Chheda and Heena Parag Chheda. The lead manager to the issue is JM Financial Institutional Securities Limited and Edelweiss Financial Services Limited and the Registrar to this issue is Link Intime India Private Limited .


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Prince Pipes and Fittings IPO Date

The opening and the closing date of IPO of Prince Pipes and Fittings Private Limited is not known yet.


Prince Pipes and Fittings IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1   
Day 2    
Day 3    
Day 4    
Day 5    

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Prince Pipes and Fittings IPO Allotment Status

Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders.. How ever , the Allotment status is not yet disclosed.


Prince Pipes and Fittings IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Prince Pipes and Fittings Private Limited – Company Overview

Prince Pipes and Fittings Private Limited Company is recognized as one of the leading polymer pipes and fittings manufacturers in India in terms of production capacity, number of distributors, and number and variety of products manufactured . The Company market their products under two brand names: Prince Piping Systems; and Trubore Piping Systems. Due to their comprehensive product range, the Company is positioned as an end-to-end polymer piping systems solution provider. The Company has more than 30 years‘ experience in manufacturing polymer pipes and more than 20 years‘ experience in manufacturing fittings.

The Company has five strategically located manufacturing plants, which has enabled us to develop a strong presence in North, West and South India.The Company plan to set up two new manufacturing plants, one in Jobner (Rajasthan), which is near Jaipur, and the other in Sangareddy (Telangana).The Company distribute their products from their plants and from eight warehouses. The warehouses are managed by clearing and forwarding agents.

The Company is promoted by Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda, Vipul Jayant Chheda and Heena Parag Chheda and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Prince Pipes and Fittings Private Limited:

  • Strategically located manufacturing facilities with a core focus on quality
  • Strong management team
  • Their technical collaboration with a reputed international player, which helps to improve the quality of the products and their manufacturing efficiency
  • Large and growing distribution network
  • Comprehensive product portfolio across polymers serving diverse end-use applications

Business strategies of Prince Pipes and Fittings Private Limited:

  • Continue to optimize the product mix to improve margins.
  • Increase the focus on building their brands.
  • Expand the Trubore brand to new product lines and new states.
  • Set up two new manufacturing plants
  • Increase sales of the Prince Piping Systems products by reaching out to more retailers and expanding the distribution network both in new areas as well as in areas where the company already have a strong presence.

Prince Pipes and Fittings Private Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & millons)
31-Mar-1731-Mar-1631-Mar-1531-Mar-1431-Mar-13
Total Assets7,591.75 6,507.73 5,950.56 5,947.85 5,469.73
Total Revenue12,638.67  10,095.48 9,592.5210,107.43 8,066.59
Total Expense11,683.84  9,729.62 9,414.229,784.13 7,573.35
Profit After Tax743.62  293.63 156.81 250.79380.52

Earnings per Equity Share (in millions)

31-Mar-1731-Mar-1631-Mar-15
Basic & Diluted15.746.123.27

From the above statements, one could find that the Prince Pipes and Fittings Private Limited may perform well.


Prince Pipes and Fittings IPO – Promoters

The Promoter of this company are:

  1. Jayant Shamji Chheda,
  2. Tarla Jayant Chheda,
  3. Parag Jayant Chheda,
  4. Vipul Jayant Chheda and
  5. Heena Parag Chheda

List of Related Parties (Key Managerial Personnel)

  • Ashok Mehra
  •  Hemant Kumar 
  • Ram Manohar
  • Prakash Hegde
  •  Shailesh Kanji Bhaskar

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Prince Pipes and Fittings IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares OfferedUp to [●] Equity Shares aggregating up to Rs. 7000 million
Fresh Issue

 

Up to [●] Equity Shares aggregating up to Rs. 5000 million
Offer for Sale  Up to [●] Equity Shares aggregating up to Rs. 2,000 million
 Of which:
 Net Issue to the Public Not less than [●] Equity Shares
 Of which:
 Retail Investors Portion Not less than [●] Equity Shares
 Equity Shares outstanding prior to the Issue90,015,816 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares 

Prince Pipes and Fittings IPO Issue Object

These are the IPO Issue Objects of the company-

  •  repayment or prepayment of certain outstanding loans of theCompany;
  •  financing the project cost towards establishment of a new manufacturing facility;
  •  upgradation of equipment at their manufacturing facilities; 
  •  general corporate purposes, subject to the applicable laws.

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Prince Pipes and Fittings IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Strong brands in the pipes and fittings segment with over 30 years‘ experience and multiple industry awards and accolades.
  •  Comprehensive product portfolio across polymers serving diverse end-use applications.
  • Strategically located manufacturing facilities with a core focus on quality. 
  • Large and growing distribution network. 
  •  Technical collaboration with a reputed international player, which helps to improve the quality of the products and their manufacturing efficiency.
  • Strong management team

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-153.2710.4831.16
31-Mar-166.2116.4137.27
31-Mar-1715.7431.5752.33
  • Industry P/E Ratio:
ParticularsP/E ratio
Average38.30
Highest59.55
Lowest21.47
  • Competitive Peers:
ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
Astral Poly Technik 1  112.0859.55x17.0770.71
Finolex Industries1028.5921.47x15.33186.53
Supreme Industries233.8833.86x22.21133.49

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Prince Pipes and Fittings IPO Lead Managers

Lead Managers
JM Financial Institutional Securities Limited

Edelweiss Financial Services Limited

Prince Pipes and Fittings IPO Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai – 400 083, India
Tel: +91 22 49186200; Fax: +91 22 4918 6195
Website: www.linkintime.co.in
Email:
Investor Grievance Id:
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Other Details:

  • Statutory Auditor –  M/s. Khimji Kunverji & Co., Chartered Accountants
  • Peer Review Auditor-M/s. Khimji Kunverji & Co., Chartered Accountants
  • Bankers to the Company –  ICICI Bank of India, Standard Chartered Bank

Prince Pipes and Fittings IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Prince Pipes and Fittings IPO Grey Market Premium

The Prince Pipes and Fittings IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Prince Pipes and Fittings IPO News

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