Swastik Pipe Fixes Price Band of Rs 97‐100 Per Share For Public Issue on NSE Emerge

Swastik Pipe Ltd, a specialised pipe manufacturer, has fixed the price band of Rs 97‐100 per share for its forthcoming public issue on NSE Emerge through the book building route. The issue size consists of the issuance of up to 62.52 lakhs equity shares of a face value of Rs 10 each fully paid‐up shares through the book‐building process.

The issue will open for bidding on September 29 and close on October 3, 2022. Out of the total, 50 per cent of the issue will be reserved for HNIs and 50 per cent of the issue has been reserved for retail investors.

Promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Aggarwal, Swastik Pipes manufactures and exports mild steel and carbon steel electric‐resistance‐welded (ERW) black and galvanised pipes and tubes since 1973.

“It has two manufacturing plants in Haryana and Uttar Pradesh with a production capacity of 20,000 MT per month and has expanded into the production of solar module mounting structures, steel tubular poles, GI structure of rural electrification, etc. The proceeds from the proposed public offering will be used by the company for its working capital requirements,” according to a statement.

Swastik Pipes is promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Aggarwal. The company is a leading manufacturer and exporter of T.T. Swastik Band high-quality mild steel/ carbon steel ERW black and galvanised pipes/ tubes since 1973.

It has two state-of-the-art manufacturing plants in Haryana and Uttar Pradesh with production capacity of 20,000 MT per month. In those last few years, the company has diversified into production of solar module mounting structure, steel tubular poles, and GI structure of rural electrification, etc.

Its key customers include Reliance Industries, BHEL, Coal India, DMRC, EIL, Hindustan Zinc, L&T, NALCO, NTPC, ABB Ltd. etc. It’s marquee customers spread over many countries ranging from the US, the UK, the UAE, Australia, Qatar, Germany, Belgium, Mauritius, Ethiopia and Kuwait.

For the year ended March 2022, the company reported a turnover of Rs 612.19 crore. Earnings before interest, tax and amortisation (Ebita) of Rs 29.28 crore and a net profit of Rs 20.41 crore.

Read all the Latest Business News and Breaking News here

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
sekabet - casinomeritroyal.com -

superbetinx.com

- adana eskort - eskort eskişehir - samsun eskort - bursa eskort - eskort mersin -

web tasarım