Hariom Pipe files DRHP for Rs 120-crore IPO

#DRHP, #Hariom Pipe Industries Limited, #IPO, #SEBI, draft red herring prospectus

IPO | PC-Shutterstock

Hyderabad-based Hariom Pipe Industries Limited (HPIL) has filed its draft red herring prospectus (DRHP) with the SEBI for its initial public offering (IPO) to raise Rs 100-120 crore.

The company is mulling to use the funds to fund its capital expenditure, working capital requirements besides expenses for general corporate purposes. The equity shares have a face value of Rs 10 each.

ALSO READ: Sansera Engineering IPO share allotment expected today: How to check status

Hariom Pipe Industries Limited has a strong hold on its steel products with a wide distribution network across India and especially in South and Western India. It has a diverse product portfolio consisting of mild steel (MS) billets, pipes and tubes, hot rolled (HR) coils and scaffolding systems and caters to diverse end use industries such as housing, infrastructure, agriculture, automotive, solar, fabrication and engineering.

Among other details, HPIL is also planning to set up a new manufacturing plant in Telangana’s Sangareddy with a total estimated installed capacity of 51,943 tonnes per annum.

Also, the firm plans to commence production in FY21 itself. HPIL has an installed capacity of approximately 2.41 Lakh tonnes per annum — as on October 2019 — across its 6 manufacturing facilities.

Its total income for FY 2021 stood at Rs 254.82 crore against Rs 161.15 crore a year ago and the net profit stood at Rs 15.13 crore versus Rs 7.90 crore a year ago. EBITDA margin was at 13.72 percent compared with 14.81 percent in 2020.

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