Swastik Pipe SME IPO to open on Sept 29, price band fixed at Rs 97-100


The initial public offering (IPO) of Swastik Pipes, a manufacturer and supplier of steel pipes and tubes, will open for subscription on September 29 and close on October 3. The company has fixed a price band of Rs 97-100 per share for the SME IPO. The stock will list on SME NSE Emerge through the book-building route.

The issue size comprises issuance of up to 62.52 lakhs equity shares of the face value of Rs 10 for each fully paid-up share through the book-building process.

50 per cent of the issue will be reserved for HNIs, and 50 per cent is reserved for retail investors.

Swastik Pipes is promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Aggarwal. The company has been a leading manufacturer and exporter of T.T. Swastik Band high-quality mild steel/carbon steel ERW black and galvanized pipes/tubes since 1973.

The company has two manufacturing plants in Haryana and Uttar Pradesh with a production capacity of 20,000 MT per month and has expanded into the production of solar module mounting structures, steel tubular poles, GI Structure of

, the company said.

The proceeds from the proposed public offering will be used for the company’s working capital requirements.

In the last few years, the company has diversified into the production of solar module mounting structures, steel tubular poles, GI structures for rural electrification etc.

The company’s key customers include

, , , DMRC, EIL, , L&T, , , etc and its marquee customers are spread over many countries ranging from the USA, UK, UAE, Australia, Qatar, Germany, Belgium, Mauritius, Ethiopia and Kuwait.

For the year ended March 2022, the company reported a turnover of Rs 612.19 crore. EBITA of Rs 29.28 crore and a net profit of Rs 20.41 crore, It said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)



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