Hariom Pipe Industries Limited launched its IPO on 30 March 2022 and offered its investors 85,00,000 shares in total. However, against this offering, investors bid for 6,74,04,596 shares as of the final day of subscription, 5 April 2022. As per data available on the official website of the NSE, investors subscribed to this IPO 7.93 times.
It is a manufacturing company that deals in iron and steel products like Scaffolding, Mild Steel (MS) Pipes, MS Billets, HR Strips, and Sponge Iron. The company even has a wide reach to India’s southern and western parts. Hariom Pipe Industries Limited has 200+ dealers and distributors for sale.
The IPO offered by the company for subscription amounted to Rs. 130 crores. This includes a fresh issue of 85 lakh equity shares. However, the price band of its initial public offering ranged from Rs. 144 to Rs. 153 per share.
To get a close insight into the shares subscribed by different investor segments individually, continue reading this piece!
To know how many subscription Hariom Pipe Industries Limited IPO received as of the final day of the public offering, refer to the following points:
Look into the following table to get a closer insight into how many times shares of Hariom Pipe Industries Limited IPO were subscribed by different investor categories:
Investor Category | QIB | NII | RII | Total |
No. of Times Subscribed | 1.91 times | 8.87 times | 12.15 times | 7.93 times |
The company allotted 50% to QIB or Qualified Institutional Buyers, 15% to NII or Non-Institutional Investors and 35% to RII or Retail Individual Investors.
Hariom Pipes Industries Limited plans to utilise the proceeds from this initial public offering to meet the below objectives:
The details of the performance status of Hariom Pipe Industries Limited IPO on the first four days are provided below.
Investor category | QIB | NII | RII | Total |
Day 4 | 0.00 times | 0.03 times | 1.88 times | 0.67 times |
Day 3 | 0.44 times | 0.32 times | 3.55 times | 1.48 times |
Day 2 | 0.44 times | 0.33 times | 4.66 times | 1.88 times |
Day 1 | 0.83 times | 1.93 times | 7.18 times | 3.44 times |
Hariom Pipe Industries Limited is a premium manufacturer making efforts to reach its maximum strength for growth. It has a stronghold in the southern market of India and offers great diversification in its product range.
Individuals looking to invest in it can open their Demat account via Angel One platform. The platform makes the process easy and allows them to complete the process within seconds. So, sign up for a top-notch experience.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
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