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The Hariom Pipe stock begins its journey on Wednesday on the BSE at Rs 214 apiece, a premium of 39.9 percent over its issue price of Rs 153. On NSE, the stock debuted at Rs 220 apiece, a stellar premium of 43.8 percent.

Hariom Pipe's initial public offering (IPO) was oversubscribed by all pools of investors earlier this month. The issue received the most subscriptions from retail investors.

The issue, which kicked off for subscription on March 30, concluded on April 5. Hariom Pipe Industries is expected to garner Rs 130 crore at the higher end of the price band of Rs 144-Rs 153.

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Hariom Pipe Industries IPO: Should you subscribe to the public offer?

The proceeds generated will be utilized for funding capital expenditure requirements, working capital requirements and the remaining for general corporate purposes.

The Hyderabad-based company manufactures steel products and has a wide distribution network in South India. It caters to customer requirements in various sectors such as housing, infrastructure, agriculture, automotive, solar power, power, cement, mining and engineering.

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