Hariom Pipe IPO lists at 44% premium

NSE official Rachana Bhusari, Hariom MD Rupesh Kumar Gupta, director Sailesh Gupta at the listing

Hariom Pipe IPO lists at 44% premium

Set to do well with infra boom

Rupesh Kumar Gupta, Managing Director -Hariom Pipe Industries, says it’s an important milestone beginning of a new journey

MUMBAI, Apr 13 (The CONNECT) - Hariom Pipe Industries Limited an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron, listed on the NSE at Rs 220 which is 44% premium over its issue price of Rs 153 per equity share.

At BSE, the scrip got listed at BSE at Rs 214 a 40% per cent premium over the issue price.

The IPO was floated at a price band of Rs 144-Rs 153.

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.

Rupesh Kumar Gupta, Managing Director, Hariom Pipe Industries Limited said the listing marks an important milestone beginning of a new journey for the company.

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

Hariom Pipe also caters to diverse end-use industries, which results in strong sales as infrastructure and agriculture sector are witnessing strong growth. The company caters to directly and indirectly to customer requirements in various sector that includes housing, infrastructure, agriculture, automotive solar, fabrication and engineering.

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