Hariom Pipe Industries IPO Details: The Hariom Pipe Industries IPO date has been set. Hariom Pipe Industries IPO is coming in 30 March 2022 and closing date is 5 April 2022. A fresh offering of up to 8.5 million shares is part of the IPO. The company would raise roughly Rs 130 crore at the top of the price range. The funds will be utilized to cover capital expenditures as well as working capital needs.
According to Regulation 6(1) of the SEBI ICDR Regulations, not more than 30% of the Issue shall be available for allocation to Qualified Institutional Buyers, not less than 35% of the Issue shall be available for allocation to Non-Institutional Investors, and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders.
Hariom Pipe Industries IPO Details
|Opening Date||Mar 30, 2022|
|Close Date||Apr 5, 2022|
|Price Band||Rs. 144 to Rs. 153 per equity share|
|Lot Size||98 Shares|
|Issue Size (Rs. Cr.)||8,500,000 Eq Shares of Rs. 10 (aggregating up to Rs. 130.05 Cr)|
|Face Value||Rs. 10 per equity share|
|Issue Type||Book Built Issue IPO|
|Exchange Board||BSE, SME|
|Fresh Issue||8,500,000 Eq Shares of Rs. 10 (aggregating up to Rs. 130.05 Cr)|
|Retail Shares Offered||Not less than 35%|
|NII (HNI) Shares Offered||Not less than 35%|
|QIB Shares Offered||Not more than 30%|
|Basis of Allotment Date||Apr 8, 2022|
|Initiation of Refunds||Apr 11, 2022|
|Credit of Shares to Demat Account||Apr 12, 2022|
|IPO Listing Date||Apr 13, 2022|
Hariom Pipe Industries IPO Date
Hariom Pipe Industries plans to open its IPO on 30 March 2022 and will close on 5 April 2022. Harion Pipe Industries IPO’s face value is Rs. 10 per equity share. Hariom Pipe Industries Limited founded as ‘Hari Om Concast and Steels Private Limited’ on June 21, 2007, with the goal of providing high-quality steel products that meet or exceed client expectations.
Hariom Pipe Industries IPO Price
The Issue’s price band has been set at Rs 144 – Rs 153 per equity share. Investors can bid for as little as 98 equity shares and as many as 98 equity shares after that.
Eighty Hariom Pipe Industries IPO Lot Size
The IPO market lot size for Hariom Pipe Industries is 98 shares. Individual retail investors can apply for up to 13 lots (1274 shares or Rs. 194,922). The public offering included the sale of up to 85,00,000 equity shares of Hariom Pipe Industries.
Hariom Pipe Industries IPO Allotment Date and Listing Date
The allotment of shares will take place on April 8, 2022, and the reimbursement process for non-allotment will begin on April 11, 2022. On April 13, 2022, the issue will be listed on Indian stock exchanges. The proceeds from the offering will be used to fund capital expenditures as well as other working capital requirements.
About Hariom Pipe Industries IPO
Hariom Pipe Industries Limited, based in Hyderabad, Telangana, manufactures steel products and has a large distribution network in South India, according to a press release. The company is an integrated producer of Mild Steel (MS) Billets, Pipes and Tubes, Hot Rolled (HR) Coils, Scaffolding, and Sponge Iron that serves customers in a variety of industries, including housing, infrastructure, agriculture, automotive, solar power, electricity, cement, mining, and engineering.
The extension of the furnace will ensure that basic raw materials, such as MS Billets, are available for the manufacturing of HR Strips. In its Pipe Mills, HR Strips are the primary raw material. The new electric melting furnace will also aid in the supply of HR strips for the company’s future pipe mills. As a result, the company’s product range has been backward integrated.
The Company’s EBIDTA margin for fiscal 2021 is 13.72 percent. For the six months ended September 30, 2021, total income and profit after tax were Rs. 201.16 crores and Rs. 12.87 crores, respectively.
Promoters of Hariom Pipe Industries IPO
Hariom Pipe Industries’s promoters are Rupesh Kumar Gupta and Sailesh Gupta.