Hariom Pipe Industries IPO (Initial Public Offering) was opened for subscription on March 30, 2022 and the value of the public offering €130.05 crore remains open for subscription until April 5, 2022. As of April 1, 2022, the public issue has been subscribed 1.88 times while the retail portion has been subscribed 4.66 times. The company has set the price range for the IPO of Hariom Pipe Industries at €144 to €153 per share.
Here we list important details regarding the Hariom Pipe Industries IPO that a bidder should know before applying for the public offering:
– Hariom Pipe Industries GMP IPO: Hariom Pipe’s stock is yet to debut on the gray market, according to market watchers. Therefore Hariom Pipe Industries IPO GMP is not available today.
– Hariom Pipe Industries IPO price range: The company has set the price range of its public offering at €144 to €153 per share.
– Hariom Pipe Industries IPO Subscription Status: As of April 1, 2022, the public issue has been subscribed 1.88 times, and its retail portion has been subscribed 4.66 times.
– Hariom Pipe Industries IPO size: The company is planning an increase €130.05 crore from the public issue.
– Hariom Pipe Industries IPO lot size: A bidder may apply for the IPO in lots, each lot will contain 98 shares of the Company.
– Hariom Pipe Industries IPO Application Limit: A tenderer can apply for a minimum of one lot and a maximum of 13 lots.
– Hariom Pipe Industries IPO investment limit: As indicated by the application limit, a bidder needs a minimum €14,994 ( €153 x 98) to apply for the IPO, with a bidder being able to invest at most €1.94.922 [( ₹153 x 98) x 13] in this public release.
– Grant date for the IPO of Hariom Pipe Industries: The preliminary share allocation date is April 8, 2022.
– Listing of Hariom Pipe Industries: The expected listing date for Hariom Pipes shares is April 13, 2022 and the shares will be listed on both the NSE and the BSE.
– Hariom Pipe Industries IPO Registrar: Bigshare Services Pvt Ltd has been appointed as the Official Registrar of the IPO.
Should you file for Hariom Pipe Industries IPO?
Whether or not to subscribe to the Hariom Pipe Industries IPO; Saurabh Joshi, Research Analyst at Marwadi Financial Services said: “Given the FY22 (annualized)/FY21 EPS of €10.10/5.94 on a post-issuance basis, the company will trade at 15.14x/25.76x P/E with a market cap of 10.14x/25.76x €389.80 crore while its peers JTL Infra and APL Apollo Tubes are trading at P/E of 30.5 and 44.3 respectively. We are assigning a Subscribe (cautious) rating to this IPO as the company’s backward integration of the production process offers a cost advantage over its peers and is available at a reasonable valuation compared to its peers. However, the risk of customer concentration and the cyclical nature of the business keep us cautious over the long term.”
give the public edition a subscription tag; Astha Jain, Senior Research Analyst at Hem Securities, said: “Hariom Pipe Industries Ltd is priced at a range of €144 to €153 per share at a P/E multiple of 16-17x on an EPS basis prior to FY21 issuance. The company with its integrated nature of operations has an environmentally friendly manufacturing process with strategic location of production units and competitive prices of products. Looking at the company’s financial performance and valuations, the issue looks decent, we recommend subscribing to the issue.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms and not Mint.
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