Malpani Pipes and Fittings : Malpani Pipes and Fittings shares get listed at 4.56% discount!Malpani Pipes and Fittings : Malpani Pipes and Fittings shares get listed at 4.56% discount!

Malpani Pipes and Fittings shares debuted on the BSE SME platform on February 4 at ₹85.90, a 4.56% discount to the IPO price of ₹90, showcasing a subdued listing performance.

Malpani Pipes & Fittings IPO saw significant demand on Day 3, with the total subscription reaching 146.93 times. The Qualified Institutional Buyer (QIB) portion was subscribed 58.49 times, Non-Institutional Investors (NII) 343.13 times, and Retail investors 113.35 times, reflecting strong investor interest.

Also Read: Stock under ₹90 jumps 5% after its net profit increases by 606.2% YOY

Malpani Pipes and Fittings Limited, established in 2017, specializes in HDPE, MDPE, sprinkler, drip irrigation, and various other types of pipes. It also trades in granules and PVC pipes, with a vision to lead globally while focusing on sustainability and innovation.

Also Read: Blue chip stock jumps 3% after it expansion project worth nearly ₹10,000 Cr 

Malpani Pipes & Fittings Ltd’s IPO aims to use the net proceeds for purchasing machinery, repaying ₹1,700 lakh of debt, and covering general corporate needs such as working capital, capital expenditures, and other board-approved purposes.
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