Hariom Pipe Industries IPO (Initial Public Offering) opened for subscription on 30th March 2022 and the public issue worth Rs130.05 crore will remain open for subscription till 5th April 2022. By 1st April 2022, the public issue has been subscribed 1.88 times while its retail portion has been subscribed 4.66 times. Company has fixed Hariom Pipe Industries IPO price band at Rs144 to rs153 per equity share.

Here we list out important details in regard to Hariom Pipe Industries IPO that a bidder should know before applying for the public issue:

Hariom Pipe Industries IPO GMP: According to market observers, shares of Hariom Pipe are yet to make a debut in the grey market. So, Hariom Pipe Industries IPO GMP today is still not available.

Hariom Pipe Industries IPO price band: Company has fixed price band of its public offer at Rs144 to Rs153 per share.

Hariom Pipe Industries IPO subscription status: By 1st April 2022, the public issue has been subscribed 1.88 times and its retail portion has attracted 4.66 times subscription.

Hariom Pipe Industries IPO size: Company plans to raise Rs130.05 crore from the public issue.

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

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

Hariom Pipe Industries 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.

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

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

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

Should you apply for Hariom Pipe Industries IPO?

On whether one should subscribe Hariom Pipe Industries IPO or not; 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."

Giving subscribe tag to the public issue; Astha Jain, Senior Research Analyst at Hem Securities said, "Hariom Pipe Industries Ltd 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."