Hariom Pipe Industries shares to debut on bourses today

Shares of Iron and steel products manufacturer Hariom Pipe Industries will debut on the bourses, the NSE and the BSE, today, i.e., April 13, 2022.

The Rs 130-crore initial public offering (IPO) of the Hyderabad-based Hariom Pipe Industries closed with 7.93 times subscriptions on April 5, 2022.

The portion set aside for retail investors was subscribed 12.15 times, while non-institutional investors and qualified institutional buyers portions were subscribed 8.87 times and 1.91 times, respectively.

The company raised Rs 130 crore at the upper end of the Rs 144-153 price band.

The company plans to use the funds for capital expenditure, meeting working capital requirements and for general corporate purposes.

Hyderabad-based Hariom Pipe Industries is an integrated manufacturer of mild steel (MS) pipes, scaffolding, HR strips, MS billets, and sponge iron. It manufactures MS pipes and scaffoldings of more than 150 different specifications and caters to customers in various sectors such as housing, infrastructure, agriculture, automotive, power, cement, mining, solar power and engineering.