MUMBAI: Texmo Pipes and Products Ltd’s proposed public issue of 50,00,000 equity shares, priced at Rs 85-Rs 90 per share, is scheduled to open on Feb 16 and close on Feb 19.

Of the 50,00,000 shares up to 1,00,000 shares are reserved for the employees. This issue is being made through 100% Book Building Process.

The Madhya Pradesh-based pipes manufacturing company plans to raise funds for the expansion of its product range and also to set up manufacturing facilities for injection mouldings / fittings and woven sacks. The company proposes to expand its product range by introducing products like CPVC, Drip Inline and DWC pipes. With this, the installed capacity of the company would be 41674 MTPA for PVC pipes.

Texmo Pipes already manufactures PVC and HDPE pipes viz. suction & delivery hose pipe, rigid PVC pipes, elastomeric sealing ringfit PVC Pipe (Gasket Pipe), PVC casing and ribbed screen casing pipes, SWR pipe, plumbing pipe, conduit pipe, caping casing strips, column pipe, HDPE plain pipe, sprinkler pipe, PLB HDPE cable duct and drip irrigation system.