Home / Markets / Ipo /  Swastik Pipe IPO: Price band fixed at 97-100, issue opens on 29th September

Swastik Pipe Ltd has fixed the price brand of 97 to 00 per equity share for its forthcoming public issue on NSE Emerge through the book building route. The issue size comprises issuance of up to 62.52 lakhs equity shares of the face value of 10 each fully paid-up shares through the book-building process. The issue will open for bidding on September 29, 2002 (Thursday) and close on October 03, 2022 (Monday).  

Swastik Pipe IPO details

Tentative date for allotment of shares is likely on 7th October 2022 whereas most likely date for listing of shares is 12th October 2022. Skyline Financial Services Private Ltd has been appointed as official registrar of the public issue. The public offer is proposed for listing on NSE Emerge or NSE SME exchange.

50 per cent of the issue will be reserved for HNIs, and 50 per cent for the issue has been reserved for retail investors. The SME aims to raise 62.52 crore from its public issue.

Promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Aggarwal, Swastik Pipe manufactures and exports mild steel and carbon steel electric-resistance-welded (ERW) black and galvanized pipes and tubes since 1973.

It has two manufacturing plants in Haryana and Uttar Pradesh with a production capacity of 20,000 MT per month and has expanded into the production of solar module mounting structures, steel tubular poles, GI Structure of rural electrification etc. The proceeds from the proposed public offering will used by the company for its working capital requirements.

Swastik Pipe is promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Aggarwal. The company is a leading manufacturer and exporter of T.T. Swastik Band high quality Mild Steel/Carbon Steel ERW Black and Galvanized Pipes/Tubes since 1973. It has two state of art manufacturing plants in Haryana and Uttar Pradesh with production capacity of 20,000 MT per month. In those last few years, the company has diversified into production of Solar Module Mounting Structure, Steel Tubular Poles, GI Structure of rural electrification etc.

Its key customers include Reliance Industries, BHEL, Coal India, DMRC, EIL, Hindustan Zinc, L&T, NALCO, NTPC, ABB Ltd. etc. It's marquee customers spread over many countries ranging from USA, UK, UAE, Australia, Qatar, Germany, Belgium, Mauritius, Ethiopia and Kuwait.

For the year ended March 2022, the company reported a turnover of 612.19 crore. EBITA of 29.28 crore and a net profit of 20.41 crore.

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