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Swastik Pipe: This company is coming with IPO, will open for bidding on 29th, many big brands are clients

Swastik Pipe IPO: Swastik Pipes Ltd. is soon bringing its IPO market in the country. This company has fixed a price band of Rs 97 to Rs 100 per equity share for its IPO on NSE Emerge through the book building route. Explain that the issue size includes 62.52 lakh equity shares of face value of Rs 10 through book building. The issue will open for bidding on September 29 and will close on Monday, October 3.

Reserve for 50 percent HNI

Let us tell you that 50 percent of the issue will be reserved for HNIs. 50% of the issue is reserved for retail investors. The SME aims to raise Rs 62.52 crore from its public issue. Promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Agarwal, Swastik Pipes has been manufacturing and exporting mild steel and carbon steel Electric-Resistance-Welded (ERW) black and galvanized pipes and tubes since 1973.

Started two manufacturing plants

It is to be noted that there are two manufacturing plants in Haryana and Uttar Pradesh with a production capacity of 20,000 MT per month. The company has used the money raised from the IPO for its working capital requirements.

These big companies are clients

The major customers of this company are the country’s largest Reliance Industries, BHEL, Coal India, DMRC, EIL, Hindustan Zinc, L&T. , NALCO (NALCO), NTPC (NTPC), ABB Ltd. (ABB Ltd.) etc. Also from USA (USA), UK (UK), UAE (UAE), Australia (Australia), Qatar (Qatar), Germany (Germany) to Belgium (Belgium), Mauritius, Ethiopia (Ethiopia) and Kuwait ( Kuwait) is spread in many countries including customers.

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