Hariom Pipe Industries IPO Shares Makes Strong Listing On Expected Lines

Shares of Hariom Pipe Industries listed at a premium of 39.87% on the BSE at Rs. 214 as against the issue price of Rs. 153. On the NSE it clocked 43.79% gains and listed at Rs. 220.

The sharp gains on the debut are on expected lines after the issue garnered a decent response as well as commands good financial performance.

Already the market analyst expected the decent listing for the stock.

With the net issue proceeds from the IPO, the company will augment MS pipe manufacturing capacity from 84,000 to 1,32,000 million tonne per annum (mtpa) by setting up two additional pipe mills next to the Mahabubnagar plant.

Hariom Pipe Industries is the Hyderabad based company i.e. into manufacturing of iron and steel products. The company is an integrated steel manufacturer with a stronghold in the South Indian market. With a diverse product portfolio consisting of Mild Steel (MS) Billets, Pipes and Tubes, Hot Rolled (HR) Coils and Scaffolding Systems, our top-quality products cater to a variety of industrial applications across multiple sectors.