Hariom Pipe shares rise on market debut, lists at 44% premium

Hyderabad: Hariom Pipe Industries Limited ("Company"), an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron, is listed on the NSE at Rs 220 at a 44% premium over its issue price of Rs 153 per equity share. The scrip got listed at BSE at Rs 214 per share, a 40% per cent premium over its issue price of Rs 153. The initial public offering was offered at a lower price band of Rs 144 per share and a higher price band of Rs 153 per equity share. Total Turnover (BSE+NSE) on Day 1 stood at Rs 94.01 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 572.45 crore as per BSE and Rs. 588.50 crore as per NSE.

Mr Rupesh Kumar Gupta, Managing Director, Hariom Pipe Industries Limited said "Today marks an important milestone for Hariom Pipe Industries Limited, Sincere gratitude to all stakeholders and investors who have bestowed their faith in us. This is the beginning of a new exciting journey for us and we are committed to long-term shareholder value accretion in long run through consistent performance growth. We appreciate the responsibility given to us and will work harder to deliver".

The initial share sale with a face value of Rs 10 per equity share, comprises of fresh issue of 85,00,000 equity shares and the issue was closed on 5th April 2022. The portion reserved for retail investors was subscribed 12.15 times. While the Qualified Institutional Buyer category was subscribed 1.91 times, the Non-Institutional Investor category was subscribed 8.87 times. Overall the issue was subscribed 7.93 times.

ITI Capital Limited is the sole Book Running Lead Manager (“BRLM”) for the Issue.