Hariom Pipe Industries Limited IPO Received 7.93 Times on the Final Day

Hariom Pipe Industries Limited launched its IPO on 30 March 2022 and offered its investors 85,00,000 shares in total. However, against this offering, investors bid for 6,74,04,596 shares as of the final day of subscription, 5 April 2022. As per data available on the official website of the NSE, investors subscribed to this IPO 7.93 times.

It is a manufacturing company that deals in iron and steel products like Scaffolding, Mild Steel (MS) Pipes, MS Billets, HR Strips, and Sponge Iron. The company even has a wide reach to India’s southern and western parts. Hariom Pipe Industries Limited has 200+ dealers and distributors for sale.

The IPO offered by the company for subscription amounted to Rs. 130 crores. This includes a fresh issue of 85 lakh equity shares. However, the price band of its initial public offering ranged from Rs. 144 to Rs. 153 per share.

To get a close insight into the shares subscribed by different investor segments individually, continue reading this piece!

Performance of Hariom Pipe Industries Limited IPO on Day 5

To know how many subscription Hariom Pipe Industries Limited IPO received as of the final day of the public offering, refer to the following points:

• The company received total bids for 48,75,598 shares from the Qualified Institutional Buyers (QIB) investor category against an offering of 25,50,000 shares.
• Under the Non-Institutional Investor category (NII), this company received bids for 2,63,79,150 shares while it offered them 29,75,000 shares for subscriptions.
• The company offered its Retail Individual Investors 29,75,000 shares, among which they attracted bids for 3,61,49,848 shares.

Look into the following table to get a closer insight into how many times shares of Hariom Pipe Industries Limited IPO were subscribed by different investor categories:

The company allotted 50% to QIB or Qualified Institutional Buyers, 15% to NII or Non-Institutional Investors and 35% to RII or Retail Individual Investors.

Key Objectives of Hariom Pipe Industries Limited IPO

Hariom Pipes Industries Limited plans to utilise the proceeds from this initial public offering to meet the below objectives:

• Funding its working capital needs
• Meeting its capital expenditure requirement
• For general corporate purposes

Performance Status of the First Four Days of Hariom Pipe Industries Limited IPO

The details of the performance status of Hariom Pipe Industries Limited IPO on the first four days are provided below.

 

Final Thoughts

Hariom Pipe Industries Limited is a premium manufacturer making efforts to reach its maximum strength for growth. It has a stronghold in the southern market of India and offers great diversification in its product range.

Individuals looking to invest in it can open their Demat account via Angel One platform. The platform makes the process easy and allows them to complete the process within seconds. So, sign up for a top-notch experience.

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