Hyderabad Iron and Steel Product Maker Hyderabad Industrial Hariomic Pipe Making a Decent List Because the stock recorded a premium of 39.87 percent in BSE at a price problem on April 13, in line with expectations given the company’s financial performance and a decent IPO subscription.
Stocks listed at RS 214 in BSE, while the NSE was registered at Rs 220 (up 43.79%) against the price of the issue of Rs 153 per share. Analysts expect to get a double-digit list for stock.
Maiden’s public problems take Hariom Rs 130 Crore which will be used for capital expenses and working capital requirements. The IPO price ribbon is Rs 144-153 per share.
Hariomi, lightweight steel pipe manufacturer (MS), scaffolding, HR strip, MS Billet, and iron sponge, has an integrated factory in Mahabubnagar in Telangana which produces steel products so from scrap metal and other iron in an anantapur in Andhra Pradesh which is exclusively Producing iron sponge.
With the net results of the IPO, the company will expand the capacity of MS pipelines from 84,000 to 1.32,000 million tons per year (MTPA) by preparing two additional pipe mills next to the Mahabubnagar plant.
This will also expand the capacity of the furnace unit from 95,832 to 1.04,232 mtpa.
The company in September 2020 has acquired an anytapur facilities as part of the re-integration initiative.
Most analysts have a subscription ranking on the problem given reasonable assessment.
Marwadi’s financial service has assigned the ‘subscribe (carefully)’ to the IPO. “Integration of the production process provides excellence costs for its competitors and is available in a reasonable assessment compared to their colleagues. However, the risk of client concentration and the properties of the business cycle make us be careful of long-term perspectives (10 Top 10 customer accounts) For 62 percent of the total income), “reasoned.
Choice broking also said that, at a higher level of price ribbons, haromi demanding the value / sales of the company (EV / s) some of 1.4x (for FY21 sales) which with a discount for an average of 1.7x. “The first annual FY22 income, which is requested by EV / s is less than 1x, thus a problem with attractive prices.”
With the creation of infrastructure, one of the main themes of the government to revive the economy, the broker felt that there would be no scarcity of demand for the Hariin product. “However, being a commodity game, we set a” subscribe to carefully “rankings for this problem.”