Hariom Pipe Industries makes stellar debut with 40% premium on the BSE
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Hariom Pipe Industries has debuted at Rs 214.00 on the BSE, up by 61.00 points or 39.87% from its issue price of Rs 153.
The scrip is currently trading at Rs 224.70, up by 71.70 points or 46.86% from its issue price. It has touched a high and low of Rs 224.70 and Rs 214.00 respectively. So far 2.10 lakh shares were traded on the counter.
The company’s initial public offering was subscribed 7.93 times. The portion set aside for retail investors was subscribed 12.15 times, while non-institutional investors and qualified institutional buyers bid shares 8.87 times and 1.91 times their allotted quota. The offering was opened for subscription between March 30, 2022 and April 5, 2022 and the issue price was fixed at Rs 153 per share i.e. at upper end of price band of Rs 144-153 apiece.
Hariom Pipe Industries manufactures steel products. The company provides iron and steel scaffolding systems, pipes and tubes, strips, coils, billets, and other related products.
