Hariom Pipe Industries IPO
Hariom Pipe Industries IPO — date, price band, lot size & details 2022
Hariom Pipe Industries listed on 13 Apr 2022 at ₹220, 43.8% above the ₹153 issue price.
Hariom Pipe Industries is an integrated maker of mild steel pipes, scaffolding, HR strips, MS billets and sponge iron, sold under the Hariom Pipes brand. Its total income was Rs 254.82 crore in FY2021.
Stock price
Hariom Pipe Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 30 Mar 2022
- Close 05 Apr 2022
- Allotment 08 Apr 2022
- Refund/credit 11 Apr 2022
- Listing 13 Apr 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 30 Mar to 5 Apr, 2022 |
|---|---|
| Price Band | ₹144 – ₹153 |
| Face Value | ₹10 |
| Lot Size | 98 Shares |
| Issue Size | ₹130.05 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,994 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 98 shares at the ₹153 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 98 | ₹14,994 |
| Retail (max) | 13 | 1,274 | ₹1,94,922 |
| S-HNI (min) | 14 | 1,372 | ₹2,09,916 |
| S-HNI (max) | 66 | 6,468 | ₹9,89,604 |
| B-HNI (min) | 67 | 6,566 | ₹10,04,598 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 133.92 crore in FY2019 to Rs 254.82 crore in FY2021.
- 02Profit after tax rose from Rs 8.02 crore in FY2019 to Rs 15.13 crore in FY2021, and was Rs 22.19 crore in the nine months to 31 December 2021.
- 03The whole Rs 130.05 crore issue was fresh capital for the company.
- 04The pre-issue P/E was 17.17 at the upper band of Rs 153, based on EPS of Rs 8.91.
- 05The source puts return on capital employed at 27.41%.
Risks · 5
- 01Total borrowing was Rs 89.01 crore on 31 December 2021, close to net worth of Rs 93.05 crore.
- 02Steel prices are cyclical, and the source puts the PAT margin at only 5.94%.
- 03Both of its 2 plants are in Telangana and Andhra Pradesh, so sales are focused on a few regions.
- 04Profit dipped from Rs 8.02 crore in FY2019 to Rs 7.91 crore in FY2020 before rising, so growth has been uneven.
- 05Promoters and the promoter group held 99.1% before the issue and 66% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Hariom Pipe Industries offer document.
| Metric | 31 Dec 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 205.32 | 173.74 | 139.68 | 103.35 |
| Total Income | 309.07 | 254.82 | 161.15 | 133.92 |
| Profit After Tax | 22.19 | 15.13 | 7.91 | 8.02 |
| EBITDA | 41.64 | 34.97 | 23.86 | 17.35 |
| NET Worth | 93.05 | 70.79 | 48.30 | 36.09 |
| Reserves and Surplus | 76.07 | 53.83 | 35.07 | 22.86 |
| Total Borrowing | 89.01 | 80.17 | 68.17 | 55.82 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Hariom Pipe Industries RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Hariom Pipe Industries IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹8.91 | ₹11.61 |
| P/E Ratio (x) | 17.17 | 13.18 |
| Market Cap at Offer Price (₹ Cr) | ₹381.04 | ₹292.43 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹153 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹120.40 Cr of the issue is earmarked to named objects.
About the company
It sells MS pipes in western and southern India under the Hariom Pipes brand, and sells pipes and scaffolding directly to developers and contractors. It has more than 200 dealers and distributors.
It runs two plants. Unit I in Mahabubnagar district, Telangana, makes finished steel products from iron scrap and sponge iron. Unit II in Anantapur district, Andhra Pradesh, makes sponge iron.
The IPO was Rs 130.05 crore and was entirely fresh issue. Rs 50.05 crore was planned for capital expenditure and Rs 40.00 crore for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Hariom Pipe Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ITI Capital Ltd
4 issues handledBest listing: Waaree Energies (+66.3%). Weakest: Suraj Estate Developers (-5.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Hariom Pipe Industries?
The current Grey Market Premium is ₹15, or 10% over the issue price.
What is the Hariom Pipe Industries IPO price band?
₹144 to ₹153, on a face value of ₹10.
When is the allotment?
The basis of allotment is 8 April 2022, with listing on 13 April 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
