Shares of Hariom Pipe Industries made their debut in the stock market on Wednesday 220 on NSE, a premium of around 44% over its IPO issue price 153 per share. Hariom Pipe Industries shares start trading on BSE 214 each, 40% more than its issue price. Stock continues to bounce as it soared 231 minutes after listing.
130 crore Initial Public Offering (IPO) Hariom Pipe Industries was subscribed 7.93 times on the last day of bidding on strong support from retail investors. The issue opened for subscription on March 30 and ended on April 5 with a price band of Rs. 144-153.
initial share sale of Hariom Pipe Industries Strong response was received from retail investors as the stake earmarked for them was subscribed the most at 12.15 times, followed by non-institutional investors (8.87 times) and qualified institutional buyers (1.91 times).
The company said the proceeds from the issue would be used for capital expenditure requirements, working capital requirements and the rest for general corporate purpose.
Headquartered in Hyderabad and incorporated in 2007, the company has a diversified product portfolio that includes Mild Steel (MS) Billets, Pipes & Tubes, Hot Rolled (HR) Vials and Scaffolding Systems and has a diverse range of end-use industries such as housing, infrastructure. fulfills. , agriculture, automotive, solar, construction and engineering.