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


IPO Details

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