Hariom Pipe Shares Surge In Debut Trade, Jump Nearly 51%

Shares of Hariom Pipe Industries on Wednesday jumped nearly 51 per cent against the issue price of Rs 153 in its debut trade.

Hariom Pipe Shares Surge In Debut Trade, Jump Nearly 51%

Hariom Pipe shares zoomed 46.86 per cent to settle at Rs 224.70.

New Delhi:

Shares of Hariom Pipe Industries on Wednesday jumped nearly 51 per cent against the issue price of Rs 153 in its debut trade.

The stock made its debut at Rs 214, registering a jump of 39.86 per cent against the issue price on the BSE. It later zoomed 46.86 per cent to settle at Rs 224.70.

On the NSE, the stock opened at Rs 220, a gain of 43.79 per cent from the issue price and jumped 50.98 per cent to settle at Rs 231.

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

The issue was open for subscription from March 30 to 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.

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