Hariom Pipe IPO share listing today. Experts predict ’strong’ debut
- Hariom Pipe IPO listing: Appetite for Hariom Pipe share price is highly positive in both retail and anchor space, believe stock market experts
Hariom Pipe shares are going to hit Indian secondary market today. As per the information available on BSE, the equity shares of Hariom Pipe Industries Limited shall be listed and admitted to dealings on the exchange in the list of 'T' group of securities today. Shares will be listed on NSE and BSE in Special Pre-open Session (SPOS) today at 10 AM.
According to stock market experts, appetite for Hariom Pipe share price is highly positive in both retail and anchor space. They are expecting strong debut for the share. However, they went on to add that much will depend upon the market sentiment and said that in the case of negative sentiment, Hariom Pipe share price may open at around ₹200 per share levels whereas in the case of positive market opening, it may open around ₹220 to ₹225 apiece levels.
Speaking on Harimom Pipe share price listing; Ravi Singhal, Vice Chairman at GCL Securities said, "Market is highly bullish on pipe segment as gas pipeline and irrigation business is expected to go northward in near term. So, business volume of the company is expected to remain in positive territory in short to medium term. However, much will depend upon the market mood. If the market opens on positive note, in that case we may witness Hariom Pipe share price opening around ₹220 to ₹225 per share levels, delivering up to 75 per cent premium to the allottees. However, in case of negative sentiment at Dalal Street, Hariom Pipe shares may list around ₹200 apiece levels, giving 60 per cent premium to the allottees."
Echoing with Ravi Singhal's views; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Hariom Pipe IPO has witnessed strong appetite in anchor and retail space that signals strong and positive market sentiment in regard to the company. I am expecting 40 to 50 per cent premium in bear case while it may go up to 60 per cent in bull case.
Hariom Pipe IPO was offered at ₹144 to ₹153 per equity share and it was subscribed 7.93 times of its offer. Retail portion of the public issue worth ₹130.05 crore was subscribed 12.15 times.
Hariom caters to the southern and western Indian markets for their products. Their MS Pipes are marketed and sold in these geographies under the brand name - Hariom Pipes. The company manufactures MS Pipes and Scaffoldings of more than 150 different specifications. Company’s integrated plant at Mahabubnagar District in Telangana (Unit I) manufactures finished steel products from iron scrap and Sponge Iron and the other plant at Anantapur District, Andhra Pradesh (Unit II) exclusively manufactures Sponge Iron. Unit II is located near Bellary.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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