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Swastik Pipe IPO opens for subscription today. Key things to know

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Swastik Pipe Ltd’s initial public offering (IPO) will open for bidding on September 29, 2022 and close on Monday, October 03, 2022.

The company has fixed the price brand of 97 to 100 per equity share for its public issue on NSE Emerge through the book building route.

The IPO comprises issuance of up to 62.52 lakhs equity shares of the face value of 10 each fully paid-up shares through the book-building process.

Fifty per cent of the issue will be reserved for HNIs, and 50% for the issue has been reserved for retail investors.

As on August 31, 2022, Swastik Pipe pending order book position stood at 300 crore. This is in addition to running orders which the company is executing.

“With the free flow of working capital (post-issue) and a growing focus on value-added products, the company will aim at higher direct-to-corporate and export revenues.

At the same time, we are looking to derisk our dependence on Northern India market by doubling its current dealership base of 110+ by 2025,” Sandeep Bansal, Managing Director, Swastik Pipe said to a group of investors.

He also added, “We would also invest in brand recall to drive higher regional sales across the country.”

Promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Aggarwal, Swastik Pipe manufactures and exports mild steel and carbon steel electric-resistance-welded (ERW) black and galvanized pipes and tubes since 1973.

Its key customers include Reliance Industries, BHEL, Coal India, DMRC, EIL, Hindustan Zinc, L&T, NALCO, NTPC, ABB Ltd. etc.

It’s marquee customers spread over many countries ranging from USA, UK, UAE, Australia, Qatar, Germany, Belgium, Mauritius, Ethiopia and Kuwait.

The company’s shares are expected to list on the SME platform of National Stock Exchange (NSE).

NIFTY SME EMERGE Index is designed to reflect the performance of a portfolio of eligible small and medium enterprises that are listed on NSE EMERGE platform.

4Tentative date for allotment of shares is likely on 7th October 2022 whereas most likely date for listing of shares is 12th October 2022.

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