Malpani Pipes & Fittings IPO

Malpani Pipes & Fittings Limited, based in Ratlam, Madhya Pradesh, is an ISO 9001:2015 certified manufacturer specializing in high-quality plastic pipes, including HDPE, MDPE, and LLDPE pipes, marketed under the Malpani brand. The company also trades in PVC pipes and granules. With a manufacturing facility equipped with advanced machinery, Malpani has expanded its product range and distribution network. It serves sectors like irrigation, water supply, and infrastructure, offering products for government projects and welfare policies for farmers. The company was recognised as one of the “Top 10 Irrigation Equipment Manufacturers – 2024.

IPO Strengths

• A pan-India network for product distribution and a strong base of wholesalers and retailers.

• Manufacturing facility in Ratlam, Madhya Pradesh, strategically placed for efficient distribution across key markets.

• Warehouses in cities like Ratlam, Bhiwandi, and Amravati, ensuring timely deliveries and inventory management.

• A broad range of products including HDPE, MDPE pipes, and irrigation systems catering to multiple sectors.

• ISO 9001:2015 certified facility and rigorous in-house testing to ensure high product standards.

• Led by skilled professionals with expertise in manufacturing, distribution, and financial management.

Malpani Pipes and Fittings IPO Key Financials (in ₹ lakhs)

Particulars	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	6134.72	3893.90	2130.01
Revenue	14,096.18	8245.09	3490.58
Profit After Tax	739.72	208.04	89.06
Reserves and Surplus	1241.97	390.48	183.30
Total Borrowings	3028.87	1959.26	897.61

Malpani Pipes and Fittings Limited Upcoming IPO Details

Category	Details
Issue Type	Book Built Issue IPO
Total Issue Size	Fresh Issue: 28,80,000 shares (aggregation to ₹25.92 Cr) Offer for Sale: NA
Price Range	₹85 to ₹90 per share
Lot Size	1,600 Shares
Face Value	₹10 per share
Listing Exchange	SME, BSE
Pre-IPO Shareholding	78,97,500 shares
Post-IPO Shareholding	1,07,77,500 shares
Market Marker	1,45,600 shares (MNM Stock Broking Private Limited)

Malpani Pipes and Fittings IPO Important Dates

IPO Activity	Date
IPO Open Date	29 January 2025
IPO Close Date	31 January 2025
Basis of Allotment	3 February 2025
Refunds Initiation	4 February 2025
Credit of Shares to Demat	4 February 2025
Listing Date	5 February 2025

Malpani Pipes and Fittings IPO Lots

Application	Lots	Shares	Amount
Retail (Min)	1	1600	₹1,44,000
Retail (Max)	1	1600	₹1,44,000
HNI (Min)	2	3,200	₹2,88,000

Malpani Pipes and Fittings IPO Lead Managers

Lead Managers

Interactive Financial Services Limited

Malpani Pipes and Fittings Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	37.17
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	50.07%
Net Asset Value (NAV)	60.80
Return on Equity	71.52%
Return on Capital Employed (ROCE)	21.74%
EBITDA Margin	9.41%
PAT Margin	5.25%
Debt to Equity Ratio	2.04

Malpani Pipes IPO Peer Group Comparison

Company Name	EPS (₹)	PE Ratio	RONW (%)	NAV (₹)	Revenue (₹ in Lakhs)
Malpani Pipes and Fittings Limited	37.17	[●]	50.07%	60.80	14,096.18
Peer Group
Aik Pipes and Polymers Limited	6.65	21.14	15.56%	34.46	3727.25
Kriti Industries (India) Ltd	4.32	50.13	13.99%	30.32	86,662.61

Objectives of the Proceeds

• Capital expenditure for plant and machinery, ₹350 lakhs

• Repayment of debt, ₹1700 lakhs

• Meet general corporate expenses