Hariom Pipes made a strong market debut with equity shares of the company getting listed at Rs 214, a 40 per cent premium against its issue price of Rs 153 per share, on the BSE. In the morning trade, the stock was locked at the maximum upper limit of the day at Rs 224.70, up 46 per cent from its issue price.

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A combined 4.1 million equity shares had changed hands, and there are pending buy orders for 430,000 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.02 per cent at 58,563 points.

“Effective from Wednesday, April 13, 2022, the equity shares of Hariom Pipe Industries shall be listed and admitted to dealings on the exchange in the list of ‘T’ group of securities,” BSE said in a notice dated April 12, 2022. In the T2T segment, each trade has to result in delivery, and no intra-day netting of positions is allowed.

The Rs 130 crore share sale issue of Hariom Pipe had received a decent response, with the issue being subscribed 7.93 times on solid reaction from the retail investors. The portion reserved for retail bidders was subscribed 12.15 times, whereas the non-institutional buyer’s quota attracted 8.87 times. The portion for institutional buyers fetched 1.9 times the subscription. The company raised funds via the primary route entirely through the fresh equity sale.