The IPO (Initial Public Offering) of Hariom Pipe Industries started on 30 March 2022 and will be available for subscription till 5 April 2022. The issue has fixed a price band between Rs. 144 and Rs. 153 apiece, and it’s 100 per cent book built. If you want to get the key highlights of this IPO, keep reading!
How Is the Hariom Pipe Industries IPO Performing?
The Initial Public Offering of Hariom Pipe Industries, a steel and iron products manufacturer, received about 67% subscription against its issue volume on Day 1. On Wednesday, 30 March 2022, the company launched its offering to raise around Rs. 122.40 crores to Rs. 130.05 crores.
The cumulative data on the National Stock Exchange indicated that on the first day, the offering obtained bids of 56,67,536 shares as against the volume of 85,00,000 shares, subscribing by around 67%. The offering has fetched a whooping demand from retail investors.
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Get an Insight into the IPO’s Reservation!
Retail Individual Investors’ reservations attracted an oversubscription of around 1.88 times, while the non-institutional investors’ reservations received nearly 3% subscriptions. On Day 1, there’s no bidding from QIB (qualified institutional buyers).
In this initial public offering, the reservation for QIBs is 30%, whereas the same for RIIs and NIIs is 35% each. The issue has a bid lot of 98 shares and its multiples. This IPO’s lead manager is ITI Capital.
Hariom Pipe Industries’ tentative share allotment date is 8 April 2022, and its share listing date is 13 April 2022. The stock will be listed on both the BSE and the NSE.
What is Hariom Pipe Industries’ USP?
Hariom Pipe Industries is a leading producer of steel and iron products. It uses top-quality raw materials compliant with BS and ISI standards. The company practices optimum utilisation of resources by promoting recycling and reducing wastage.
It adopts high-valued equipment and hygienic conditions. Further, it ensures timely delivery and proper planning of the products.
Hariom Pipe Industries has emerged as an integrated steel producer with its prominence in South India. Through its diverse product portfolio comprising Scaffolding Systems, Hot Rolled Coils, Tubes and Pipes, and Mild Steel Billets, its high-quality products serve multiple industrial applications across various segments.
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Frequently Asked Questions
- Where is Hariom Pipe Industries’ headquarters located?
The headquarters of Hariom Pipe Industries is located in Hyderabad, Telangana. The company is a subsidiary of the Hariom Group.
- What is Hariom Pipe Industries’ manufacturing capacity?
Hariom Pipe Industries has a manufacturing capacity of 300832 MT. Its rolling mill capacity is 84,000 MT.
- Who is the Chairman of Hariom Pipe Industries?
Pramod Kumar Kapoor is the Independent Director and Chairman of Hariom Pipe Industries. The entity’s Managing Director is Rupesh Kumar Gupta.
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