AIK Pipes Polymers IPO: Check Out Price Band & Other Details
by Sandip Das on 26 December 2023, 3 min read
AIK Pipes Polymers launched its initial public offering (IPO) to raise over Rs 15 crore via a public offer. The subscription for the issue opened on December 26, 2023, and it will close on December 28, 2023.
About the Company
AIK Pipes and Polymers manufactures HDPE (high-density polyethylene) pipes, HDPE fittings, MDPE (medium-density polyethylene) pipes, and PPR (polypropylene random) pipes used in water distribution, gas transmission, sewerage systems, and the telecom sector.
The IPO has set the price band for AIK Pipes at Rs 89 per equity share, each having a face value of Rs 10.
The IPO consists of a fixed price issue totaling Rs 15.02 crore. It exclusively comprises a fresh issue of 16.88 lakh shares.
Registrar to the Issue:
Skyline Financial Services Private Limited serves as the registrar for the issue, while Shreni Shares is the market maker for the AIK Pipes and Polymers IPO.
AIK Pipes IPO Book-Running Managers
Shreni Shares Limited is the book running lead manager for the AIK Pipes and Polymers IPO.
The issue reserves not more than 50 percent for retail investors, with the remaining 50 percent allocated for other investors.
Objective of the Issue
The company intends to utilize the net proceeds to meet capital expenditure, fulfil working capital requirements, and cover general corporate expenses.
As of March 31, 2023, the company’s net worth stood at Rs 5.61 crore. Its revenue from operations for FY23 totaled Rs 30.48 crore, and the company reported a profit of Rs 1.9 crore for the year.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
How useful was this post?
Click on a star to rate it!
Average rating 0 / 5. Vote count: 0
No votes so far! Be the first to rate this post.
Spread the love
Open Free Demat Account!
In just a few minutes, Simply provide some basic personal details, to get started.
As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in the securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educational material in the form of text and videos, so as to become an informed investor.