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
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