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Malpani Pipes Limited IPO
Malpani Pipes & Fittings Ltd
₹1,36,000 /1600 sharesMinimum Investment
Malpani Pipes Limited IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹90.00 | ₹85.90 | -₹4.10 (4.56%) |
Malpani Pipes Limited IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 29 Jan ‘25 - 31 Jan ‘25 | ₹1,36,000 | 1,600 | ₹85 - ₹90 |
| Issue Size | IPO Doc |
|---|---|
| 25.92Cr | RHP PDF |
Subscription rate
As of 31 Jan'25, 05:00 PM
| Qualified Institutional Buyers | 37.16x |
| Non-Institutional Investor | 98.40x |
| Retail Individual Investor | 79.15x |
| Total | 47.80x |
About Malpani Pipes Limited
Founded in
2017
Managing director
Mr. Rohit Malpani
Parent organisation
Malpani Pipes & Fittings Ltd
Strengths & Financials of Malpani Pipes Limited
Strengths
Risks
The company’s manufacturing facility in Ratlam is ISO 9001:2015 certified for quality management systems.
The company claims that the manufacturing facility, located in Ratlam, Madhya Pradesh, is equipped with advanced machinery, robust infrastructure, and an in-house testing unit, ensuring that all products meet the required standards.
The company also states that it maintains an in-house testing facility to uphold strict quality standards. For supplies to government projects or farmer welfare initiatives, the products also undergo testing by third-party laboratories, such as the Central Institute of Petrochemicals Engineering & Technology (CIPET), SGS, Bureau Veritas, Dr Amin Controllers Pvt Ltd, Rail India Technical and Economic Service (RITES), and Certification Engineers International Limited (CEIL), as mandated by government regulations.
The company’s client base includes GR Infra Projects Ltd, JWIL Infra Ltd, Virent Power & Projects Pvt Ltd, Bihani Constructions Pvt Ltd, Devendra Constructions Company, S.B.E. Engineering & Infrastructure Pvt Ltd, and Deeksha Enterprises, among others.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 34.90 crore in FY22 to Rs 82.45 crore in FY23 to Rs 140.96 crore in FY24. PAT increased from Rs 0.89 crore in FY22 to Rs 2.08 crore in FY23 to Rs 7.40 crore in FY24.
The company operates in a highly competitive and low-margin industry.
The company’s operations heavily rely on its manufacturing facility in Ratlam. Any disruption or shutdown of the facility could negatively impact its business operations.
A major portion of the company’s revenue comes from its top 10 customers. These customers contributed Rs. 42.03 crore (49.98%) as of November 30, 2024, and Rs. 79.51 crore (56.40%), Rs. 42.47 crore (51.50%), and Rs. 17.78 crore (50.95%) in FY24, FY23, and FY22, respectively to the revenue from operations. Any loss of any major customer or a decrease in business from any of them could adversely affect the company’s operations and finances.
A majority of the company’s operations are concentrated in Northern India. This region contributed Rs. 65.31 crore (77.68%) as of November 30, 2024, and Rs. 92.48 crore (65.62%), Rs. 47.64 crore (57.86%), and Rs. 20.45 crore (58.75%) in FY24, FY23, and FY22, respectively to the revenue from operations. Any adverse developments in the northern region of India could negatively affect the company’s operations and revenue generation capabilities.
The company is involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of November 30, 2024, the company’s unsecured and secured loans amounted to Rs 5.86 crore and Rs 6.06 crore, respectively. Any inability to repay or service these loans could adversely affect the company’s financial position.
Malpani Pipes Limited Financials
*All values are in Rs. Cr
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Application Details of Malpani Pipes Limited IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹85 - 90 | ₹2 - 5 Lakh |
| High Networth Individual | ₹85 - 90 | ₹2 - 5 Lakh |
For Malpani Pipes Limited IPO, eligible investors can apply as Regular.