Prince Pipes IPO To Open On Dec. 18, Price Band Set At Rs 177-178 Per Share
The IPO will open for public subscription on Dec. 18 and close on Dec. 20, Prince Pipes said in a statement.
Prince Pipes and Fittings Ltd. will launch its initial public offering on Dec. 18 to raise as much as Rs 500 crore, the pipemaker said on Friday.
The price band for the IPO has been set at Rs 177-178 per share. Prince Pipes will issue new shares worth Rs 250 crore in the offering, while an equal amount will be raised using the offer-for-sale route.
JM Financial and Edelweiss Financial Services are the book running lead managers to the offer. The equity shares will be listed on the National Stock Exchange and the Bombay Stock Exchange.
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Prince Pipes, a leading polymer pipes and fittings manufacturer in India, has six plants—two in Dadra and Nagar Haveli, and one each in Uttarakhand, Maharashtra, Tamil Nadu and Rajasthan.