AIK Pipes and Polymers was incorporated on September 19, 2017. The company is engaged in the manufacturing of a comprehensive range of HDPE (High-Density Polyethylene) pipes, HDPE fittings, MDPE (Medium Density Polyethylene) pipes, and PPR (Polypropylene Random) pipes for water distribution, gas transmission, sewerage systems, and the telecom sector. The company is committed to constant innovations in drinking water piping solutions, irrigation, and sewerage technologies to meet the constantly increasing demands.
| Bidding Dates |
|---|
| 26 Dec 2023 - 28 Dec 2023 |
| Subscription |
|---|
| 41.43x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,42,400 | 1 | 1 | 1600 | 1.7 M | ₹89 | 73.47 % | ₹150.2 M | RHP DOC |
AIK Pipes IPO SUBSCRIPTION STATUS
28 Dec '23AIK Pipes IPO overall subscription rate was 41.43 times the total available shares
AIK Pipes IPO retail subscription rate was 29.38 times in the retail segment
AIK Pipes IPO non-institutional investor subscription rate was 53.49 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
28 Dec 2023 (Day 3) | 29.38x | 53.49x | - |
27 Dec 2023 (Day 2) | 6.07x | 3x | - |
26 Dec 2023 (Day 1) | 1.9x | 0.35x | - |
AIK Pipes 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) | Margins |
| Q1FY24 | 10.2 | 137.7 | 11.3 | 10.4 | 11.0% |
| FY23 | 18.8 | 304.8 | -5.5 | -24.7 | 10.0% |
| FY22 | 8.8 | 204.2 | -6.5 | -8.7 | 7.4% |
| FY21 | 2.7 | 100.8 | 5.4 | 3.8 | 5.1% |
AIK Pipes IPO SUBSCRIPTION STATUS DETAILS
AIK Pipes had 1.7 M shares on offer
AIK Pipes IPO offer price was ₹89
AIK Pipes IPO minimum Investment was ₹142400
AIK Pipes IPO issue size was ₹ 150.2 M
AIK Pipes had a minimum lot size of 1600 Shares per application
AIK Pipes NUMBER OF SHARES ON OFFER
AIK Pipes IPO IMPORTANT DATES
| Issue Open Date | 26 Dec 2023 |
| Issue close Date | 28 Dec 2023 |
| Allotment Date | 29 Dec 2023 |
| Refund Date | 01 Jan 2024 |
| Demat Account Credit Date | 01 Jan 2024 |
| Listing Date | 02 Jan 2024 |
| Listing on Exchange(s) | BSE |
| AIK Pipes Allotment Status | Exchange |
AIK Pipes IPO subscription opened on 26 Dec 2023, and closed on 28 Dec 2023
IPO allotment for AIK Pipes was finalized on Friday, 29 Dec 2023
IPO listing for AIK Pipes was on BSE on Tuesday, 02 Jan 2024
AIK Pipes IPO LISTING GAINS
| Issue Price (adjusted) | 89.0 |
| Listing Open Price | 100.0 |
| Listing Close Price | 105.0 |
| Listing Gain% | 12.4% |
| Current Gain% | -64.2% |
AIK Pipes 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AIK Pipes And Polymers Ltd. | 31.8 | 20.3 | 232.7 | -2.5 | 2.1 | 0.4 | 0.2 | 9.9 | -61.3 | 0.1 | -93.2 | 0.1 | -93.2 |
| Supreme Industries Ltd. | 3442 | 43722.7 | 42.4 | 2.6 | 3.9 | 15.5 | 12.2 | 11262.5 | 7.2 | 954 | -0.7 | 81.3 | 16 |
| Astral Ltd. | 1444 | 38793.1 | 72.3 | 29.6 | 5.9 | 13.2 | 9.2 | 6615.9 | 12.6 | 536.6 | 2.4 | 20 | 2.4 |
| Shaily Engineering Plastics Ltd. | 3162.3 | 14531.6 | 82.2 | 1.6 | 14.2 | 23.7 | 14.8 | 998.4 | 26.5 | 169.9 | 82.5 | 38.5 | 51.3 |
| Finolex Industries Ltd. | 164.4 | 10202.5 | 16.6 | 0.3 | 2.6 | 9.6 | 7.9 | 4324.8 | -1.5 | 599 | -25.1 | 9.9 | 54.8 |
| Time Technoplast Ltd. | 204.9 | 10113.6 | 20.6 | 1 | 1.6 | 11.5 | 8.3 | 6114.4 | 11.9 | 468.7 | 20.8 | 9.9 | 21.3 |
AIK Pipes INFORMATION ON IPO ISSUE
About AIK Pipes
AIK Pipes and Polymers was incorporated on September 19, 2017. The company is engaged in the manufacturing of a comprehensive range of HDPE (High-Density Polyethylene) pipes, HDPE fittings, MDPE (Medium Density Polyethylene) pipes, and PPR (Polypropylene Random) pipes for water distribution, gas transmission, sewerage systems, and the telecom sector. The company is committed to constant innovations in drinking water piping solutions, irrigation, and sewerage technologies to meet the constantly increasing demands.
Object of the Issue
- To meet working capital requirements
- To meet the capital expenditure
- General corporate purposes
AIK Pipes - PROMOTERS
| Name |
|---|
| Imran Khan |
| Tahira Sheikh |
AIK Pipes Lead Manager of the Issue
Sherni Shares Limited
shrenishares@gmail.com
AIK Pipes Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
AIK Pipes Strengths
Scalable business model
The company's business model is order-driven and comprises optimum utilization of the existing resources. This business model has proved successful and scalable for the company in the last few financial years
Quality assurance
The company is an ISO 9001:2015 certified organization for quality management systems, and it provides customers with the best possible quality by manufacturing superior quality products
AIK Pipes Risks
Dependent on few customers
The company's top ten customers contribute a majority of the revenue from operations. Any loss of business from one or more of them may adversely affect the revenues and profitability
Negative cash flows
The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect the business, results of operations, and prospects
IPO FAQs
The promoters of the company are Imran Khan and Tahira Sheikh.
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 89.0 - 89.0.
The IPO application opens on Dec 26, 2023 and closes on Dec 28, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 142,400.0, the maximum value for this IPO is Rs 142,400.0.
This IPO will be allotted on Dec 29, 2023.
The refund will be credited to your account on Jan 01, 2024.
The allotted shares will be credited to your demat on Jan 01, 2024.
AIK Pipes And Polymers Ltd.’s shares listed on the stock exchanges on Jan 02, 2024.