Prince Pipes IPO subscribed 28 percent on first day - Indian IPO Blog

Indian IPO Blog

Insights into investing world in India

Wednesday, December 18, 2019

Prince Pipes IPO subscribed 28 percent on first day


Prince Pipes IPO has received a scant response on first day with the IPO getting bids of upto 0.28 times

Detailed subscription status given below:

QIB: 0.05xH

HNI 0.03x

Retail: 0.52x

Overall: 0.28 times


The details of utilization of the proceeds of the Fresh Issue are summarized below:

1. Repayment or prepayment of certain outstanding loans of the company;
2. Financing the project cost towards establishment of a new manufacturing facility;
3. Upgradation of equipment at the manufacturing facilities; and
4. General corporate purposes, subject to the applicable laws

No comments:

Post a Comment

Join us on Whatsapp!