Shree Marutinandan Tubes IPO will open for subscription on Friday, January 12, and close on Tuesday, January 16. Shree Marutinandan Tubes Ltd IPO price band has been set at ₹143 apiece. 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 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.
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As per the company's draft red herring prospectus (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).
Between March 31, 2022, and March 31, 2023, Shree Marutinandan Tubes Limited's profit after tax (PAT) increased by 3,257.07%, while its revenue increased by 0.09%.
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.
The company's promoters are Vikram Shivratan Sharma, Bharat Shivratan Sharma, and Kusumlata Shivratan Sharma.
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.
Shree Marutinandan IPO subscription status is 47.16 times on day 3. The issue received positive response from retail investors who's portion set was subscribed 59.71 times, and non-institutional buyers who's portion was subscribed 32.67 times, as per data available on chittorgarh.com.
The company has received bids for 4,48,06,000 shares against 9,50,000 shares on offer, according to data on chittorgarh.com.
Shree Marutinandan IPO subscription status is 5.18 times on day 1, and the issue was subscribed 20.02 times on day 2.
Shree Marutinandan Tubes IPO GMP today or grey market premium is +12. This indicates Shree Marutinandan Tubes share price were trading at a premium of ₹12 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shree Marutinandan Tubes share price was indicated at ₹155 apiece, which is 8.39% higher than the IPO price of ₹143.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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