Shares of Hariom Pipe Industries rose nearly 51 percent on Wednesday from the issue price of Rs 153 in its debut trading.
The stock debuted at Rs 214 and registered a 39.86 percent jump from the issue price on the BSE. It later zoomed in 46.86 percent to settle at Rs 224.70.
On the NSE, the stock opened at Rs 220, a gain of 43.79 percent from the issue price and rose 50.98 percent to settle at Rs 231.
Hariom Pipe Industries’ Initial Public Offering (IPO) of Rs 130 crore was subscribed for 7.93 times earlier this month.
The issue was open for subscription from March 30 to April 5.
The Hyderabad-based company manufactures steel products and has a broad distribution network in South India. It meets the demands of customers in various industries such as housing, infrastructure, agriculture, automotive, solar, energy, cement, mining and engineering.