Hariom Pipe Industries’ IPO subscribes 7.93 instances on ultimate day
New Delhi:
The Rs 130-crore Preliminary Public Providing (IPO) of Hariom Pipe Industries was subscribed 7.93 instances on the ultimate day of bidding on Tuesday on the again of a robust assist from retail buyers.
The general public problem acquired bids for six.74 crore shares as towards the 85 lakh on provide, translating right into a subscription of seven.93 instances, in line with the info out there on NSE web site.
The IPO acquired strong response from retail investor because the portion put aside for them was subscribed probably the most at 12.15 instances, adopted by non-institutional buyers (8.87 instances) and certified institutional patrons (1.91 instances).
The difficulty, which kicked off for subscription on March 30, concluded on April 5.
Hariom Pipe Industries is anticipated to garner Rs 130 crore on the larger finish of the worth band of Rs 144-Rs 153. The proceeds generated can be utilised for funding capital expenditure necessities, working capital necessities and the remaining for basic company goal.
The Hyderabad-based firm manufactures metal merchandise and has a large distribution community in south India. It caters to buyer necessities in varied sectors resembling housing, infrastructure, agriculture, automotive, solar energy, energy, cement, mining and engineering.
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