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22 January 2020

IPO Synopsis

Prince Pipes & Fittings Ltd
Registered Office: Plot No 1 Honda Indl Estat,Phase II Honda Sattari Honda , Goa - 403530 , Goa , India.
Phone : 91-22-66022222   Fax:91-22-66022220
Email :  investors@princepipes.com  
Website :  www.princepipes.com
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.

Issue Money Payable On
Opens On Closes On Application Allotment
18-Dec-19 20-Dec-19 (Rs)178.00-0.00 (Rs)0.00-0.00
Minimum Application for shares in Nos :84  Further Multiples of :84

  (Rs Cr) Lead Managers to the Issue
Project Cost 250.00
Edelweiss Financial Services Ltd
Project Financed through Current Offer 500.00  
Post Issue Equity Share Capital 110.03  
Issue Price (Rs)178.00  
 
Projects
Repayment or prepayment in full or part of certain outstanding loans of the companyUpgradation of equipment at the manufacturing facility
Financing the project cost towards establishment of new manufacturing facilityGeneral Corporate Purposes
Promoted By
Jayant Shamji Chheda  
Tarla Jayant Chheda  
Parag Jayant Chheda  
Listing At
BSE 
NSE 
Registrar to the Issue
Link Intime India Pvt Ltd 
 
Toll Free number: 1800-425-5501 / 1800-103-5501
FINANCIAL TOOLS