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AIK Pipes and Polymers IPO opens on December 26: Check issue price, GMP, other details
AIK Pipes and Polymers has decided to launch their IPO on December 26, with the price band of their issue now released.
AIK Pipes and Polymers is set to launch their initial public offering (IPO) next week, and the firm has released their price band, issue size and other IPO details. The issue is set to open on Tuesday, December 26.
The company on Sunday said that the issue price for their IPO will be ₹89 apiece. AIK Pipes and Polymers IPO will open on December 26, Tuesday and will close on December 28, Thursday.
The initial share-sale is entirely a fresh issue of 16.88 lakh equity shares and the company aims to raise about ₹15.02 crore from the IPO, AIK Pipes said in a statement. The shares will be listed on the BSE-SME platform.
The main aim of the IPO is to raise funds for capital expenditure, meeting working capital requirements, and general corporate expenses, the company said in their IPO paperwork. Shreni Shares Ltd is the book-running lead manager to the issue, while Skyline Financial Services is the registrar for the IPO.
Jaipur-based AIK Pipes and Polymers is a leading manufacturer of MDPE (Medium Density Polyethylene) pipes and PPR (Polypropylene Random) pipes meant for water distribution, gas transmission, sewerage systems and telecommunication sectors.
AIK Pipes and Polymers IPO: Price band, GMP and more details
AIK Pipes and Polymers has set the IPO price band for their issue at ₹89. The lot size for subscription is set at 1,600 shares minimum. This means that a subscriber will have to make a minimum investment of ₹1,42,400.
The IPO will be closing on Thursday, and the allotment is expected to be finalised by Friday, December 29. A fresh issue of 16.88 lakh equity shares will be launched on December 26, with the face value of ₹10.
The IPO size of AIK Pipes and Polymers will be ₹15.02 crore. It is expected that the listing date of the issue will be January 2, 2024. The GMP of the company has not been updated yet, but is expected to be out a day before the issue.
(With inputs from PTI)
