Hariom Pipe IPO subscribed 1.9x on Day-2 on heavy retail interest

Small investor portion gets 4.7x subscription; company looks to raise Rs 130 crore in fresh capital

Hairom Pipe Industries’ IPO was subscribed nearly two times on Friday. The issue closes on Tuesday. The retail portion of the issue is subscribed 4.7 times. Through the IPO, the company is looking to raise Rs 130 crore in fresh capital.
 

The price band for the IPO is Rs 144-153 per share.

The company is an integrated manufacturer of mild steel pipes, scaffolding, HR strips, MS billets and sponge iron. In FY21, it had clocked net profit of Rs 15.13 crore on total income of Rs 254.82 crore.

Following the IPO, the company will have a market cap of almost Rs 400 crore.