The IPO of Malpani Pipes and Fittings concluded its subscription on Friday, Jan. 31. The mainboard issue was booked over 145 times led by demand from non-institutional buyers and retail investors.
The grey market premium (GMP) of Malpani Pipes gained on the final day after declining for most of the day despite investor interest.
Here's all you need to know about the Malpani Pipes and Fittings IPO: the latest GMP, overall subscription status, allotment and listing date.
Malpani Pipes And Fittings IPO Day 3 Subscription Status
The Malpani Pipes IPO was subscribed 146.93 times on Friday, as per the market tracking site Chittorgarh.
Qualified Institutions: 58.49 times
Non-institutional Investors: 343.13 times
Retail Investors: 113.35 times
What is Malpani Pipes And Fittings IPO GMP Today
The latest grey market premium of Malpani Pipes IPO was Rs 20 at 8:31 a.m. on Feb. 1, marking a premium of over 22.22% over the issue price. According to InvestorGain, the unlisted shares of Malpani Pipes and Fittings Ltd. could debut at Rs 110 apiece if the current GMP trends are sustained.
Ahead of the closing of the IPO, the GMP trends showed a downward movement. The unlisted shares were trading at Rs 118 apiece when the IPO opened for subscription. The highest GMP was Rs 28 on Jan. 28 and the lowest was Rs 5 on the final day (Friday)
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
| IPO Date | IPO Price | GMP | Estimated Listing Price | Estimated Listing Gains |
|---|---|---|---|---|
| 1st Feb | Rs 90 | Rs 20 | Rs 110 | 22.22% |
| 31st Jan | Rs 90 | Rs 20 | Rs 110 | 22.22% |
| 30th Jan | Rs 90 | Rs 10 | Rs 100 | 11.11% |
| 29th Jan | Rs 90 | Rs 27 | Rs 117 | 30.00% |
| 28th Jan | Rs 90 | Rs 28 | Rs 118 | 31.11% |
Malpani Pipes And Fittings IPO: Allotment And Listing Date
The allotment for Malpani Pipes and Fittings Ltd. is expected to be finalised on Feb. 1. Investors who bid for the issue can check the IPO allotment status by following our step-by-step guide here.
Malpani Pipes and Fittings Ltd. shares are proposed to be listed on the BSE SME platform on Tuesday, Feb. 4.
Malpani Pipes And Fittings IPO
As per the company's RHP document, of the 28,80,000 shares offered -
5,58,400 (19.39%) is reserved for Qualified Institutions
4,16,000 (14.44%) is reserved for Non-institutional Investors
9,60,000 (33.33%) is reserved for Retail Investors
8,00,000 (27.78%) is reserved for Anchor investors
Malpani Pipes and Fittings Ltd. has proposed to use the net proceeds from the IPO to settle debts and fund capital expenditure on the purchase of machinery. A part of the money raised via the IPO will also be used for general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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