Hariom Pipe Industries Ltd. will launch its initial public offer (IPO) on Mar 30, 2022. The offer will close on Apri1 5, 2022 and the company has fixed the price band at Rs 144-Rs 153 per equity share.
Issue Opens – Thursday, March 30, 2022
Issue Closes – Monday, April 5, 2022.
Hariom Pipe Industries Ltd is an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron. The company uses iron ore to produce Sponge Iron which is then processed across various stages to manufacture final products viz. MS Pipes and Scaffolding making the manufacturing process cost-effective. The company manufactures MS Pipes and Scaffoldings of more than 150 different specifications and cater to customer requirements in various sectors such as housing, infrastructure, agriculture, automotive, power, cement, mining, solar power and engineering.
The company has one integrated plant in Telangana which manufactures finished steel products from iron scrap and Sponge Iron while the other plant at Anantapur, Andhra Pradesh exclusively manufactures Sponge Iron. The company mainly sells MS Pipes through more than two hundred distributors and dealers to the Southern & Western India markets. They also sell MS Pipes and Scaffoldings to certain developers and contractors directly as B2B sales. Top 10 customers of the company represented 62.37% and 60.74% of revenue from operation for six months period ended September 30, 2021 and for Fiscal, respectively. Further, the largest customer represented 24.18% and 24.46% of the total revenues for six months period ended September 30, 2021 and for Fiscal, respectively.