nihalshaikh9881
Founded in 2017, AIK Pipes and Polymers Limited manufactures pipes, HDPE fittings, MDPE pipes and PPR pipes for the water distribution, gas transmission, sewerage systems, and telecommunication sectors.
The company has 3 manufacturing facilities in Jaipur, Rajasthan which are operated on a lease basis.
The company has a competent team of engineers, technicians and operators who play an important role in the production and quality control of the products.
These products are approved by several authorities including the Bureau of Indian Standards (BIS), Central Institute of Petrochemicals Engineering and Technology, Indian Oil Corporation and GAIL.
AIK Pipes is registered with the Government of Rajasthan as a supplier of water supply and sewerage management.
As of June 30, 2023, the company recorded a total income of Rs. 1400.42 lakhs and an adjusted profit after tax of Rs. 101.97 lakhs.
The company is an ISO 9001:2015 certified company. As of June 30, 2023, the company had 23 employees on its payroll.
AIK Pipes And Polymers IPO Details
| IPO Date | December 26, 2023 to December 28, 2023 |
| Listing Date | Tuesday, January 2, 2024 |
| Face Value | ₹10 per share |
| Price | ₹89 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 1,688,000 shares (aggregating up to ₹15.02 Cr) |
| Fresh Issue | 1,688,000 shares (aggregating up to ₹15.02 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 4,675,000 |
| Share holding post issue | 6,363,000 |
| Market Maker portion | 84,800 shares |
AIK Pipes And Polymers IPO Timeline (Tentative Schedule)
AIK Pipes And Polymers IPO opens on December 26, 2023, and closes on December 28, 2023.
| IPO Open Date | Tuesday, December 26, 2023 |
| IPO Close Date | Thursday, December 28, 2023 |
| Basis of Allotment | Friday, December 29, 2023 |
| Initiation of Refunds | Monday, January 1, 2024 |
| Credit of Shares to Demat | Monday, January 1, 2024 |
| Listing Date | Tuesday, January 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 28, 2023 |
AIK Pipes And Polymers IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹142,400 |
| Retail (Max) | 1 | 1600 | ₹142,400 |
| HNI (Min) | 2 | 3,200 | ₹284,800 |
AIK Pipes And Polymers IPO Promoter Holding
The promoters of the company are Mr. Imran Khan and Ms. Tahira Sheikh
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 73.47% |
AIK Pipes And Polymers IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
AIK Pipes And Polymers Limited Financial Information (Restated)
AIK Pipes And Polymers Limited’s revenue increased by 47.21% and profit after tax (PAT) rose by 113.58% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,638.56 | 1,450.50 | 968.13 | 739.75 |
| Revenue | 1,400.42 | 3,077.92 | 2,090.84 | 1,020.54 |
| Profit After Tax | 101.97 | 187.74 | 87.90 | 26.99 |
| Net Worth | 662.47 | 560.50 | 202.76 | 84.86 |
| Reserves and Surplus | 194.97 | 433.00 | 132.76 | 44.86 |
| Total Borrowing | 429.91 | 538.09 | 432.17 | 382.88 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
AIK Pipes And Polymers IPO Market Cap is Rs 56.63 Cr and P/E (x) is 21.54.
| KPI | Values |
|---|---|
| P/E (x) | 21.54 |
| Post P/E (x) | 13.88 |
| Market Cap (₹ Cr.) | 56.63 |
| ROE | 49.19% |
| ROCE | 17.90% |
| Debt/Equity | 0.96 |
| EPS (Rs) | 4.13 |
| RoNW | 33.50 |
Objects of the Issue (AIK Pipes And Polymers IPO Objectives)
The Net Proceeds from the Fresh Issue will be utilized towards the following objects:
- To Meet Working Capital Requirement
- To Meet the Capital Expenditure
- General Corporate Purpose
