The Rs 130.05 crore IPO of the metal products player was subscribed 7.53 times, thanks to a demand from retail and HNI bidders. The issue was open for subscription between March 30 to April 5 in the price range of Rs 144-153 per share.
The majority of the analysts were positive on the issue and have recommended subscribing to it. However, a few of them had a word of caution for investors due to aggressive valuations and higher competition in the market.
The quota reserved for retail bidders was subscribed 12.15 times, whereas HNI quote fetched 8.87 times bids. The allocations for institutional bidders were subscribed a little below two times.
Hyderabad-based Hariom Pipe manufactures iron and steel products including mild steel (MS) pipes, scaffolding, HR strips, MS billets and sponge iron.
The company sells and markets MS pipes in the western and southern parts of India under the ‘Hariom Pipe’ brand name through more than 1,400 distributors and dealers.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Hariom Pipe Industries Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit
One can also check the allotment status on the online portal of Bigshare Services Private Limited(https://www.bigshareonline.com/ipo_Allotment.html), the registrar to the issue.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of Bigshare Services Pvt Ltd (https://ipo.bigshareonline.com/IPO_Status.html)
2) Select one of the three available server
3) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You will be required to select either one of the three modes: Application number, Beneficiary ID or PAN ID
4) Enter the details of the mode you selected in Step 3
5) Hit search
Bidders who could not get allotment in the IPO may see the initialisation of refunds on April 11 and those, who would be allotted shares may see the credit of shares in the demat account by April 12. The counter may get listed by April 13.
