Hariom Pipe Files IPO Papers With Sebi
NDTV
Hariom Pipe IPO: The Hyderabad-headquartered company's IPO will be a fresh issue of 85 lakh shares, the company said in its preliminary papers
Hariom Pipe Industries Limited (HPIL) has filed its draft red herring prospectus with SEBI for an initial public offering (IPO). The Hyderabad-headquartered company's IPO will be a fresh issue of 85 lakh shares, the company said in its IPO papers. There will not be an offer for sale by existing shareholders.
The company will use the IPO money to fund its capital expenditure, working capital requirements and for general corporate purposes.
Hariom Pipe Industries is a backward integration-focused company as it produces all intermediate products required for manufacturing its final products, in-house. It has a diverse product mix, consisting of mild steel (MS) billets, pipes and tubes, hot rolled (HR) coils and scaffolding systems.
