{"id":19727,"date":"2022-01-31T18:31:28","date_gmt":"2022-01-31T13:01:28","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ipo-hariom-pipe\/"},"modified":"2022-01-31T18:31:28","modified_gmt":"2022-01-31T13:01:28","slug":"biz-ipo-hariom-pipe","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-hariom-pipe\/","title":{"rendered":"Hariom Pipe Industries gets Sebi&#8217;s go ahead to raise funds via IPO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1729592499\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Jan 31 (PTI) Hariom Pipe Industries has received capital markets regulator Sebi&#8217;s go ahead to raise Rs 100-120 crore through an initial public offering. \u00a0 \u00a0  \tThe public issue comprises sale of 85 lakh equity shares of the company, the Draft Red Herring Prospectus (DRHP) filed with Sebi showed. \u00a0 \u00a0 \u00a0 \u00a0 \tHariom Pipe Industries, which had filed preliminary IPO papers with Sebi in September 2021, obtained its observation letter on January 25, 2022, an update with Sebi showed on Monday. \u00a0 \u00a0 \u00a0 \tIn Sebi&#8217;s parlance, observation implies the regulator&#8217;s nod to float IPO. \u00a0 \u00a0 \u00a0 \tAccording to market sources, the IPO (Initial Public Offering) is expected to fetch Rs 100-120 crore. \u00a0 \u00a0 \u00a0  \tGoing by the draft papers, net proceeds from the initial share-sale will be used to fund its capital expenditure, working capital requirements besides expenses for general corporate purposes.\u00a0 \u00a0 \u00a0 \u00a0  \tHeadquartered in Hyderabad and incorporated in 2007, the backward integration focused company has a strong hold on its steel products with wide distribution network across India and especially in the southern and western regions.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \tThe company has a diverse product portfolio consisting of Mild Steel (MS) billets, Pipes and tubes, Hot Rolled (HR) voils and scaffolding systems and caters to diverse end-use industries such as housing, infrastructure, agriculture, automotive, solar, fabrication and engineering. \u00a0 \u00a0 \u00a0 \u00a0  \t\u00a0Hariom Pipe Industries plans to set up a new manufacturing plant at Sangareddy in Telangana with a total estimated installed capacity of 51,943 tonnes per annum.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-202381668\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> It plans to commence production in FY21, as per the draft papers. \u00a0 \u00a0 \u00a0 \u00a0  \tAs on October 2019, the company has an installed capacity of approximately 2.41 lakh tonnes per annum. \u00a0 \u00a0 \u00a0 \u00a0 \tFor FY21, it&#8217;s total income stood at Rs 254.82 crore as against Rs 161.15 crore in the preceding fiscal. Its net profit stood at Rs 15.13 crore for the said period as compared to Rs 7.90 crore in the previous financial year. \u00a0 \u00a0 \u00a0 \u00a0  \tITI Capital is the sole book-running lead manager to the issue. PTI SP  RUJ RUJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-826502413\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 31 (PTI) Hariom Pipe Industries has received capital markets regulator Sebi&#8217;s go ahead to raise Rs 100-120 crore through an initial public offering. \u00a0 \u00a0 The public issue comprises sale of 85 lakh equity shares of the company, the Draft Red Herring Prospectus (DRHP) filed with Sebi showed. \u00a0 \u00a0 \u00a0 \u00a0 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-19727","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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