Precision Pipes IPO to raise Rs 75 cr

December 11, 2007

Precision Pipes IPO will be open for subscription on 17th December and the company plans to raise around 75 crore through the IPO. Ajay Kumar Jain the Managing Director of Precision Pipes speaking to the media said that the IPO will help them to meet the growing demand in the automotive and PDC business. The company is engaged in the manufacturing of Auto components and PDC pipes with positive growth in the last 3 years with margins around 25 per cent. Maruthi, Toyota and Honda are the major clients of the company and majority of the business comes from Maruthi. The number of shares to be offered through the Precision Pipes IPO is low and the price band at which the IPO would be issued is Rs. 140 to Rs 150. Read more updates on the Precision Pipes IPO Subscription and Precision Pipes IPO Allotment here.

Posted in IPO-Subscription, Indian IPOs