AIK Pipes and Polymers IPO opens on December 26: price check, GMP

AIK Pipes and Polymers ipo is set to launch its initial public offering (IPO) next week, and the company has revealed the price band, issue size and other IPO details. The issue is scheduled to open on Tuesday, December 26.
The company on Sunday said the issue price for its IPO will be ₹89 things. AIK Pipes and Polymers IPO will open on December 26, Tuesday and will close on December 28, Thursday.

The initial share sale is an entirely new issue of 16.88 million shares and the company aims to raise capital. ₹15.02 crore from the IPO, AIK Pipes said in a statement. The shares will be listed on the BSE-SME platform.

The primary purpose of the IPO is to raise funds for capital expenditures, meeting working capital needs, and general corporate expenses, the companies said in their IPO documents. Shreni Shares Ltd is the book-to-book manager for the issue, while Skyline Financial Services is the registrar for the IPO.

AIK Pipes and Polymers based in Jaipur is a leading manufacturer of MDPE (Medium Density Polyethylene) pipes and PPR (Polypropylene Random) pipes meant for water distribution, gas transmission, drainage and telecommunication sectors. AIK Pipes and Polymers has set an IPO price band for their issue at ₹89. Lot size for subscription is set at 1,600 shares minimum. This means that the subscriber must make a minimum investment of 1,42,400.

The IPO will close on Thursday, and the allotment is expected to be completed on Friday, December 29. A fresh issue of 16.88 million shares will be launched on December 26, with a face value of ₹10.

IPO size of AIK pipe and polymer will be ₹15.02 billion. It is expected that the release date of the issue list will be January 2, 2024. The company’s GMP has not been updated yet, but it is expected to be released one day before the release.