NEW DELHI: Hariom Pipe Industries, whose initial public offering (IPO) received a decent response from investors during the bidding process, is expected to announce the allotment of shares on April 8.
The metal products provider’s Rs 130.05 crore IPO was drawn 7.53 times thanks to demand from retail and HNI bidders. The issue was open for subscription between March 30th and April 5th at a price range of Rs 144-153 per share.
The majority of analysts were positive about the issue and recommended subscription. However, some of them warned investors due to aggressive valuations and increased competition in the market.
The quota reserved for private bidders was subscribed 12.15 times, while the HNI quota received bids 8.87 times. The allocations for institutional bidders were subscribed to almost twice.
Hyderabad-based Hariom Pipe manufactures iron and steel products including mild steel (MS) pipe, scaffolding, HR strip, MS billet and sponge iron.
The Company sells and markets MV Pipes in western and southern parts of India under the brand name “Hariom Pipe” through more than 1,400 distributors and dealers.
Investors who bid for the issue can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the Issue Type, click Equity
3) Under the issue name, select Hariom Pipe Industries Limited in the dropbox
4) Write the application number
5) Add PAN card ID
6) Click I’m not a robot and click Submit.
One can also check the allotment status on the online portal of Bigshare Services Private Limited (https://www.bigshareonline.com/ipo_Allotment.html), the registrar of the issue.
The Registrar is responsible for meeting the deadlines for updating the electronic crediting of Shares to successful applicants, sending and uploading refunds and handling all investor-related questions after the issuance is completed.
1) Go to Bigshare Services Pvt Ltd web portal (https://ipo.bigshareonline.com/IPO_Status.html)
2) Select one of the three available servers
3) Select the IPO in the dropbox whose name will only be filled in when the allotment is complete
3) You need to choose one of the three modes: Application ID, Beneficiary ID or PAN ID
4) Enter the details of the mode you selected in step 3
5) Click Search
Bidders who failed to receive an allotment at the IPO can see the initialization of the refunds on April 11th, and those who would be allotted shares can see the crediting of shares to the Demat account by April 12th. The counter can be listed until April 13th.
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