Learn, discover & invest in smallcases across different types to build your long term portfolio.
Explore from India`s leading investment managers and advisors curating their strategies as smallcases.
Diversify your portfolio by investing in Global brands.
Pre-configured baskets of stocks & ETFs that you can invest in with a single click. Developed by hedge funds, global asset management companies, experienced wealth management firms and portfolio managers.
Fundamental, Stock Ideas, Multibaggers & Insights
Stock & Index F&O Trading Calls & Market Analysis
Technical Call, Trading Calls & Insights
Commodity Trading Calls & Market Analysis
Currency Derivatives Trading Calls & Insights
Options Trading Advice and Market Analysis
Model portfolios, Investment Ideas, Guru Screens and Much More
Proprietary system driven Rule Based Trading calls
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
STOCK REPORTS BY THOMSON REUTERS
Details stock report and investment recommendation
Set price, volume and news alerts
Hariom Pipe Industries' initial public offering had been subscribed 1.84 times, mopping up bids for 1.56 crore equity shares against an IPO size of 85 lakh shares on April 1, the third day of bidding.
Retail investors are once again at the forefront, bidding 4.56 times their allotted quota of shares. The portion set aside for qualified institutional buyers was subscribed 44 percent and that of non-institutional investors 32 percent.
The issue, which closes on April 5, will fetch Hariom Pipe Industries Rs 130 crore at the upper price band, which has been fixed at Rs 144-153.
The funds will be utilised for capital expenditure and meeting working capital requirements, besides general corporate purposes.
Also read: Uma Exports IPO closes, know share allotment, listing dates
"Considering the FY22 (annualised) and FY21 EPS of Rs 10.10 and Rs 5.94 on a post-issue basis, the company is going to list at a P/E of 15.14x and 25.76x, respectively, with a market cap of Rs 389.8 crore whereas its peers namely JTL Infra and APL Apollo Tubes are trading at PE of 30.5x and 44.3x," Marwadi Financial Services said.
The brokerage assigned “subscribe (with caution)” rating to the offer, saying the company’s backward integration of the production process provided a cost advantage over its competitors and was available at a reasonable valuation compared to its peers.
Click Here To Read All IPO Related News
However, "client concentration risk and cyclical nature of the business keeps us cautious from a long-term perspective (top 10 customers contribute 62 percent to the overall revenue)," Marwadi said in a note.
Hariom Pipe Industries is an integrated manufacturer of mild steel (MS) pipes, scaffolding, HR strips, MS billets, and sponge iron. It manufactures MS pipes and scaffoldings of more than 150 different specifications and caters to customers in various sectors such as housing, infrastructure, agriculture, automotive, power, cement, mining, solar power and engineering.
Also read: Yatharth Hospital files draft papers with SEBI to raise funds via IPO
It has one integrated plant at Mahabubnagar, Telangana (Unit I) which manufactures finished steel products from iron scrap and sponge iron, while the plant in Andhra Pradesh’s Anantapur makes sponge iron.
Most of the sponge iron produced by the company is used as a raw material for MS billets, HR strips, MS pipes and scaffoldings.
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.