Prince Pipes & Fittings Ltd

Use of Proceeds

The funds raised through this IPO will be used for:

Initial Public Offering of 28,089,885 equity shares of face value of Rs. 10 each of Prince Pipes and Fittings Limited (the "company" or the "issuer" and such equity shares, the "equity shares") for cash at a price of Rs. 178 per equity share including a share premium of Rs. 168 per equity share (the "offer price"), aggregating to Rs. 500 Crores* (the "offer"), comprising a fresh issue of 14,044,943 equity shares by the company aggregating to Rs. 250 Crores* (the "fresh issue") and an offer for sale of 14,044,942 equity shares aggregating to Rs. 250 Crores, including 1,123,595 equity shares aggregating to Rs. 20 Crores by Jayant shamji Chheda, 7,865,168 equity shares aggregating to Rs. 140 Crores by Tarla Jayant Chheda, 2,808,988 equity shares aggregating to Rs. 50 Crores by Parag Jayant Chheda and 2,247,191 equity shares aggregating to Rs. 40 Crores by Vipul Jayant Chheda (together, the "promoter selling shareholders" and such offers the "offer for sale"). The offer constitutes 25.53% of the post-offer paid-up equity share capital of the company.^ ^subject to finalisation of basis of allotment The face value of the equity shares is Rs. 10 each. The offer price is 17.80 times the face value of the equity shares. *The company has, in consultation with the book running lead managers ("brlms"), undertaken a private placement of 596,500 compulsorily convertible preference shares, which have been converted into 5,965,000 equity shares for cash consideration aggregating to Rs. 106.18 Crores ("pre-ipo placement"). The size of the fresh issue of up to Rs. 356.18 Crores has been reduced by Rs. 106.18 Crores pursuant to the pre-ipo placement and accordingly the fresh issue is up to Rs. 250 Crores.

*Subject to approvals and market conditions.