Swastik Pipe was incorporated on October 10, 1973. The company is a manufacturer and exporter of mild steel/carbon steel, ERW black and galvanized pipes, hollow steel pipe, cold rolled steel strips/coils, swaged tubular poles, solar structures and steel structures.
| Bidding Dates |
|---|
| 29 Sep 2022 - 03 Oct 2022 |
| Subscription |
|---|
| 1.35x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1200 | 6.3 M | ₹97 - ₹100 | 73.09 % | ₹606.4 M - ₹625.2 M | RHP DOC |
Swastik Pipe IPO SUBSCRIPTION STATUS
03 Oct '22Swastik Pipe IPO overall subscription rate was 1.35 times the total available shares
Swastik Pipe IPO retail subscription rate was 1.33 times in the retail segment
Swastik Pipe IPO non-institutional investor subscription rate was 1.37 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
03 Oct 2022 (Day 3) | 1.33x | 1.37x | - |
30 Sep 2022 (Day 2) | 0.22x | 0.76x | - |
29 Sep 2022 (Day 1) | 0.09x | 0.56x | - |
Swastik Pipe FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY22 | 204.1 | 6,087.1 | 471.9 | 610.5 |
| FY21 | 14.9 | 5,221.7 | 250.7 | 230.5 |
| FY20 | -138.9 | 6,555.2 | 355.6 | 314.1 |
Swastik Pipe IPO SUBSCRIPTION STATUS DETAILS
Swastik Pipe had 6.3 M shares on offer
Swastik Pipe IPO offer price was in the range ₹97 - ₹100
Swastik Pipe IPO minimum Investment was ₹120000
Swastik Pipe IPO issue size was ₹ 606.4 M - ₹ 625.2 M
Swastik Pipe had a minimum lot size of 1200 Shares per application
Swastik Pipe NUMBER OF SHARES ON OFFER
Swastik Pipe IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2022 |
| Issue close Date | 03 Oct 2022 |
| Allotment Date | 07 Oct 2022 |
| Refund Date | 10 Oct 2022 |
| Demat Account Credit Date | 11 Oct 2022 |
| Listing Date | 12 Oct 2022 |
| Listing on Exchange(s) | NSE |
| Swastik Pipe Allotment Status | Exchange |
Swastik Pipe IPO subscription opened on 29 Sep 2022, and closed on 03 Oct 2022
IPO allotment for Swastik Pipe was finalized on Friday, 07 Oct 2022
IPO listing for Swastik Pipe was on NSE on Wednesday, 12 Oct 2022
Swastik Pipe IPO LISTING GAINS
| Issue Price (adjusted) | 100.0 |
| Listing Open Price | 66.0 |
| Listing Close Price | 69.3 |
| Listing Gain% | -34.0% |
| Current Gain% | -81.1% |
Swastik Pipe Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Swastik Pipe Ltd. | 18.9 | 43.9 | -0.8 | 0 | 0.1 | -38.7 | -16.6 | 394.3 | -47.3 | -57.6 | -697.5 | -24.8 | 697.5 |
| APL Apollo Tubes Ltd. | 2005 | 55670.5 | 45.3 | 0.8 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1826.8 | 48189.3 | 20.9 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 509.1 | 15514.4 | 30.6 | 1.2 | 4 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 38.8 | 15176.2 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2658.7 | 6028 | 21.1 | 1.9 | 2.2 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
Swastik Pipe INFORMATION ON IPO ISSUE
About Swastik Pipe
Swastik Pipe was incorporated on October 10, 1973. The company is a manufacturer and exporter of mild steel/carbon steel, ERW black and galvanized pipes, hollow steel pipe, cold rolled steel strips/coils, swaged tubular poles, solar structures and steel structures.
Object of the Issue
- To meet out the working capital requirements of the company
- To meet out the general corporate purposes
- To meet out the issue expenses
Swastik Pipe - PROMOTERS
| Name |
|---|
| Sandeep Bansal |
| Geeta Devi Aggarwa |
| Anupama Bansal |
| Shashwat Bansal |
Swastik Pipe Lead Manager to the Issue
Corporate Capital Ventures Private Limited
smeipo@ccvindia.com
Swastik Pipe Registrar to the issue
Skyline Financial Services Limited
compliances@skylinerta.com
Swastik Pipe Strengths
Leveraging market skills and relationships
The company aims to enhance its growth by leveraging relationships and enhancing customer satisfaction. It plans to increase customers by increasing the product and geographical base, maintaining client relationships, and renewing relationships with existing buyers.
Brand image
The company is amongst the first companies in India to deliver and produce steel pipes.
Swastik Pipe Risks
Legal proceeding
The company and promoters are involved in certain legal proceedings and potential litigations.
Low-capacity utilisation
The company is facing low-capacity utilisation from the production and manufacturing of products.
Dependence on debt and outflow of finance cost
The company's high dependence on debt and higher interest expenses lead to a huge outflow of cash flows and a reduction in overall profitability.
IPO FAQs
The promoters of the company are Sandeep Bansal, Geeta Devi Aggarwa, Anupama Bansal and Shashwat Bansal.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 97.0 - 100.0.
The IPO application opens on Sep 29, 2022 and closes on Oct 03, 2022.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Oct 07, 2022.
The refund will be credited to your account on Oct 10, 2022.
The allotted shares will be credited to your demat on Oct 11, 2022.
Swastik Pipe Ltd.’s shares listed on the stock exchanges on Oct 12, 2022.