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

Hairom Pipe Industries’ IPO was subscribed practically two instances on Friday. The problem closes on Tuesday. The retail portion of the problem is subscribed 4.7 instances. By the IPO, the corporate is trying to increase Rs 130 crore in contemporary capital.

The value band for 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 FY21, it had clocked web revenue of Rs 15.13 crore on complete earnings of Rs 254.82 crore.

Following the IPO, the corporate could have a market cap of just about Rs 400 crore.

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