Shares of Prince Pipes and Fitting Ltd made a tepid debut on the stock markets on Monday. The Mumbai-based firm aimed to raise ₹500 crore via the IPO, of which fresh issue was worth ₹250 crore. The company plans to use ₹184 crore of the net proceeds towards setting up a new plant at Sangareddy in Telangana. The company plans to increase its capacity to 3,00,000 by FY21 from 241,000 currently with focus on higher margin business. It has healthy return ratios with average return on equity (RoE) of 22% and return on capital employed (RoCE) of 20% for the same period.

Source: Mint December 30, 2019 04:52 UTC