Hariom Pipe Industries sold shares in the price band of Rs 144-153 per share via initial public offering between March 30-April 5 and the issue was subscribed 3.57 times.
Why was it so important for the Karnataka government to hold Ganesh Chaturthi puja in an Idgah maidan somewhere in the state? Was it something to do with the fact that assembly elections are around the corner?
With the tide of majoritarian appeasement, fuelled by the ruling political establishment, there are efforts now to even exempt the Gyanvapi mosque-Shringar Gauri dispute in Varanasi from the ambit of the Places of Worship (Special Provisions) Act, 1991.
If the Ram Temple movement established the saffron outfit in the Hindi belt, the Hubballi campaign catapulted it to power in the state
PFI came into being in response to violence against Muslims. Political silence on it only helped the fundamentalist outfit grow in coastal Karnataka
The 1990s decade was dominated by the Ram Janmabhoomi-Babri Masjid row. Now, the Gyanvapi mosque row has added another chapter to the country’s history of disputes over religious structures and the spaces they occupy.
Shares of Hariom Pipe Industries made a stellar stock market debut on Wednesday. Hariom Pipe Industries shares opened for trading at Rs 214 on the BSE compared to its IPO price of Rs 153 per share. The stock rose as much as 47 per cent or Rs 71.70 from the IPO price to hit an intraday high of Rs 224.70. On the National Stock Exchange, Hariom Pipe Industries opened at Rs 220 and hit an intraday high of Rs 231 per share.
Hariom Pipe Industries sold shares in the price band of Rs 144-153 per share via initial public offering between March 30-April 5 and the issue was subscribed 3.57 times, data from the National Stock Exchange showed. Hariom Pipe shares were in very high demand among the retail individual investors as portion reserved for them was subscribed 6.92 times, portion reserved for non-institutional investors was booked 2.68 times and pie set aside for qualified institutional buyers, which include foreign institutional investors and financial institutions, was subscribed 0.7 times.
Hariom Pipe Industries manufactures iron and steel products including mild steel pipes, scaffolding, HR strips, MS billets, and sponge iron. The company sells and markets MS Pipes in the western and southern parts of India under the brand name "Hariom Pipes". As part of the B2B sales, the company sells MS Pipes and Scaffoldings to specific developers and contractors. Hariom Pipe Industries has more than 200 dealers and distributors for selling its products. The company is located in Hyderabad, Telangana.
The company operates two plants, one at Mahabubnagar District in Telangana (Unit I) that manufactures finished steel products from iron scrap and sponge iron and the second plant at Anantapur District, Andhra Pradesh (Unit II) that only manufactures Sponge Iron.
As of 10:24 am, Hariom Pipe Industries shares traded 47 per cent higher at Rs 226 compared with its issue price of Rs 153.
Subscribe to get complete access to Outlook Print and Digital Magazines, Web Exclusive stories and the Archive. Attractive gifts with each subscription.
© 2022 Outlook Publishing India Pvt. Ltd