Hariom Pipes IPO subscribed 1.9x on second day at heavy retail curiosity

The IPO of Heirom Pipe Industries was virtually double subscribed on Friday. The problem closed on Tuesday. The retail portion of the difficulty has been subscribed 4.7 occasions. The corporate is seeking to elevate contemporary capital of Rs 130 crore by means of IPO.

The worth band of the IPO is Rs 144-153 per share.

The corporate is an built-in producer of Delicate Metal Pipes, Scaffolding, HR Strips, MS Billets and Sponge Iron. In FY 2011, it had made a internet revenue of Rs 15.13 crore on a complete revenue of Rs 254.82 crore.

After the IPO, the corporate’s market cap might be round Rs 400 crore.

Pricey reader,

Enterprise Commonplace has all the time labored exhausting to offer up to date info and commentary on occasions which might be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the way to enhance our providing has additional strengthened our resolve and dedication to those beliefs. Even throughout these tough occasions arising out of COVID-19, we’re dedicated to conserving you knowledgeable and up to date with related information, authoritative views and sharp feedback on related related points.
Nonetheless, now we have a request.

As we grapple with the financial influence of the pandemic, we want your assist much more in order that we are able to proceed to offer you extra high quality content material. Our subscription mannequin has acquired an encouraging response from lots of you who’ve subscribed to our on-line content material. Subscribing to extra of our on-line content material can solely assist us obtain our targets of offering you with higher and extra related content material. We consider in impartial, unbiased and credible journalism. Your assist by means of extra subscriptions may also help us follow the journalism we’re dedicated to.

assist high quality journalism and Subscribe to Enterprise Commonplace,

digital editor

Supply hyperlink