Precision Pipes and Profiles Company Ltd IPO 15 Dec.07
Issue open: 17 December 07
Issue close: 20 December 07
Price band: Rs.140-150 per Share (Face Value Rs.10)
Total size of Issue: Rs.75 Crore.
No. of Shares: 50-53.57 Lakh
Company background
Delhi based Precision Pipes and Profiles Company Ltd (PPAP) is a leading manufacturer of high quality automotive sealing systems and exterior products in India. It started as a partnership firm in 1978, it was converted into public limited company in 1995.
• PPAP has four state of the art manufacturing facilities, which are located in New Delhi and Noida.
• All the plants are TS 16949, ISO 14001 and OHSAS 18001 certified. Its total capacity is 47.5 Lakh kgs.
• Its product range includes weather strips, trim door opening, windshield molding, roof molding, quarter window seal, A-pillar garnish, B-pillar garnish, skirt air damper, body side molding etc.
• Additionally, PPAP manufacture PVC based customized profiles for white goods and other industries.
• They have a technical collaboration with Tokai Kogyo Co. Ltd (TKCL), Japan, to manufacture automobile products.
• In automobile industry its client list includes Maruti Udyog Ltd, Honda SIEL, General Motors and Toyota Kirloskar.
• In the white goods industry, PPAP supply customized profiles to Godrej, Voltas, Videocon and Carrier Refrigerators
Objectives of the Issue
The company plans to raise Rs.75 Crore through the IPO. Its capex plans are as:
Particulars
Land &Site
Bldg.& civil works
Plant & Mach.
Contingency Prov.
Total (Rs. Crore)
Enhance In-house Tool
Manufacturing & design at Noida Unit
5.51 0.25 5.76
Increase in Production capacity
17.83
0.71
18.54
New Surajpur plant
5.92
15.27
43.11
2.84
67.15
New Badarpur plant (Phase 1)
2.65
0.07
2.72
New Badarpur plant (Phase2)
1.55
0.08
1.63
Total Rs. (Crore)
5.92
15.27
70.65
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