AIK Pipes and Polymers IPO priced at Rs 89 per share. The issue opens for subscription from December 26 to 28. The company aims to raise Rs 15.02 crore.
New Delhi, Dec 24 (PTI) Pipe maker AIK Pipes and Polymers on Sunday said it has fixed a price of Rs 89 per share for its Initial Public Offering (IPO), which will open for public subscription from December 26-28.
The initial share-sale is entirely a fresh issue of 16.88 lakh equity shares and the company aims to raise about Rs 15.02 crore from the IPO, AIK Pipes said in a statement.
Shares will be listed on the BSE-SME platform.
Proceeds from the issue will be used for capital expenditure, meeting working capital requirements, and general corporate expenses, it said.
Shreni Shares Ltd is the book-running lead manager to the issue, while Skyline Financial Services is the registrar for the IPO.
Jaipur-based AIK Pipes and Polymers is a leading manufacturer of MDPE (Medium Density Polyethylene) pipes and PPR (Polypropylene Random) pipes meant for water distribution, gas transmission, sewerage systems and telecommunication sectors.
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