Shree Marutinandan Tubes IPO announces price band at ₹143 apiece: check issue details, key dates, more
- Shree Marutinandan Tubes Ltd IPO price band set at ₹143 apiece, with lot size of 1,000 shares. The IPO will open for subscription on January 12 and close on January 16.
Shree Marutinandan Tubes Ltd IPO price band has been set at ₹143 apiece. Shree Marutinandan Tubes IPO will open for subscription on Friday, January 12, and close on Tuesday, January 16. Shree Marutinandan Tubes Ltd IPO lot size consists of 1,000 shares. Investors can bid for a minimum of 1,000 shares and in multiples thereof. The issue price is 14.30 times the face value of ₹10.
The company's draft red herring prospectus (DRHP) states that the company is in the business of trading black pipes and solar structural pipes in addition to galvanised pipes and electric resistance welding mild steel (ERW MS) pipes (round pipes, square, and rectangular hollow sections) in a range of specifications and sizes from 15 NB to 1000 NB. Numerous industries, including agriculture, oil, public health, housing, irrigation, engineering, infrastructure, and industrial, are among those in which the products find extensive use.
The company's promoters are Vikram Shivratan Sharma, Bharat Shivratan Sharma, and Kusumlata Shivratan Sharma.
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The Shree Marutinandan Tubes Ltd IPO comprises a fresh issue of 10,00,000 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.
The proceeds from the new issue will be used for the following purposes: to cover public issue costs, general corporate purposes, and additional working capital requirements.
As per the company's DRHP, the company's listed peer's are Swastik Tubes Ltd (with a P/E of 17.51), Hi Tech Pipes Ltd (with a P/E of 33.98), and APL Apollo Tubes Ltd (with a P/E of 65.26).
Shree Marutinandan Tubes Ltd IPO's sole book running lead manager (BRLM) is Swastika Investmart Ltd, and the registrar to the issue is Bigshare Services Pvt Ltd.
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