Hariom Pipe shares debut with nearly 44 pc premium

Shares of Hariom Pipe Industries on Wednesday opened with a premium of nearly 44 per cent against the issue price of Rs 153.

The stock made its debut at Rs 214, registering a jump of 39.86 per cent against the issue price on the BSE.

At the NSE, it opened at Rs 220, a gain of 43.79 per cent from the issue price.

The Rs 130-crore Initial Public Offering (IPO) of Hariom Pipe Industries was subscribed 7.93 times earlier this month.

The issue, which kicked off for subscription on March 30, concluded on April 5.

The Hyderabad-based company manufactures steel products and has a wide distribution network in south India. It caters to customer requirements in various sectors such as housing, infrastructure, agriculture, automotive, solar power, power, cement, mining and engineering.