Hariom Pipe IPO: The public issue of Hariom Pipe Industries Limited opened for subscription today and it will remain open for subscribers till 5th April 2022. Company has fixed Hariom Pipe IPO price band at Rs144 to Rs153 per equity share. With this public offer, iron and steel products manufacturer company aims to raise Rs130.05 crore through issuance of 8,500,000 fresh equity shares.

According to stock market experts, investors can subscribe to Hariom Pipe IPO as the company’s backward integration of production process provides a cost advantage over its competitors.

Giving 'subscribe tag to Hariom Pipe IPO; Saurabh Joshi, Research Analyst at Marwadi Financial Services said, "Considering the FY22 (Annualised)/FY21 EPS of Rs10.10/5.94 on a post issue basis, the company is going to list at a P/E of 15.14x/25.76x with a market cap of Rs389.80 crore whereas its peers namely JTL Infra and APL Apollo Tubes are trading at a PE multiple of 30.5 and 44.3 respectively. We assign 'Subscribe (With Caution)' rating to this IPO as the company’s backward integration of production process provides a cost advantage over its competitors and is available at reasonable valuation as compared to its peers. However, client concentration risk and cyclical nature of the business keeps us cautious from a long term perspective."

On whether one should subscribe this public issue or not; Hem Securities report says, "Company is bringing the issue at price band of Rs144 to Rs153 per share at p/e multiple of 16-17x on pre-issue FY21 EPS basis. Company with its integrated nature of the operations has environment friendly manufacturing process with strategic location of manufacturing units & competitive pricing of the products. Looking after financial performance of company & valuations, issue looks decent, we are recommending 'subscribe' on the issue."

Here we list out 10 important details in regard to Hariom Pipe IPO:

1] Hariom Pipe IPO GMP: Shares of Hariom Pipe are yet to make its debut in the grey market. Hence, Hariom Pipes IPO GMP today is not available.

2] Hariom Pipe IPO price band: Company has fixed price band of the public issue at Rs144 to Rs153 per equity share.

3] Hariom Pipe IPO subscription status: The public issue has opened today for subscription and it will remain open till 5th April 2022. Hariom Pipes IPO subscription status indicates that the issue has been subscribed 0.15 times by 10:43 AM today while retail portion of the IPO has been subscribed 0.44 times.

4] Hariom Pipes IPO size: Company aims to raise Rs130.05 crore from its public offer.

5] Hariom Pipe IPO lot size: A bidder will be able to apply for the IPO in lots and one lot will comprise 98 company shares.

6] Hariom Pipe IPO application limit: A bidder can apply for minimum one lot and maximum 13 lots.

7] Hariom Pipe IPO investment limit: As clear from application limit, a bidder will require minimum Rs14,994 ( Rs153 x 98) to apply for the IPO whereas one bidder can invest maximum Rs1,94,922 [( Rs153 x 98) x 13] in this public issue.

8] Hariom Pipe IPO allotment date: The tentative date for share allotment is 8th April 2022.

9] Hariom Pipe IPO listing: Likely date for Hariom Pipes share listing is 13th April 2022 and shares will be listed on both NSE and BSE.

10] Hariom Pipe IPO registrar: Bigshare Services Pvt Ltd has been appointed as official registrar of the IPO.