Portions of Hariom Pipe Industries bounced more than 50% over their issue cost during their securities exchange debut on Wednesday. The stock finished at Rs 231, up 51 percent over its issue cost of Rs 153. The stock was secured in the 5% upper circuit on the two trades.
The solid presentation of new postings, for example, Harirom and Ruchi Soya will help retail opinion towards approaching IPOs, said specialists.
The Hyderabad-based company's IPO gathered almost multiple times more interest than shares on offer. The retail part of the issue is bought in 12.15 times, high networth individual (HNI) segment 8.9 times and qualified institutional purchaser (QIB) segment 1.91 times.
Through the IPO, Hariom Pipe brought Rs 130 crore up in new capital. At the last close, the organization had a market cap of almost Rs 572 crore. Hariom Pipe is a coordinated producer of gentle steel pipes, platform, HR strips, MS billets and wipe iron. In FY21, the organization had timed net benefit of Rs 15.13 crore on all out pay of Rs 254.82 crore.
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