Hi-Tech Pipes launches QIP - Check floor price and other details

Steel pipe manufacturer Hi-Tech Pipes has announced that the company has launched its qualified institutional placement (QIP). The company has set a floor price of Rs 194.98 per share, as approved by its board and shareholders.

“The Fund Raising Committee has approved the floor price for the Issue, being ₹194.98 per Equity Share (“Floor Price”), based on the pricing formula as prescribed under Regulation 176 of the SEBI ICDR Regulations,” the company said in an exchange filing.

Earlier, the company announced its highest-ever sales volumes for the second quarter at 123,027 metric tonnes (MT), marking a 22.5 per cent year-on-year (YoY) growth.

For the first half of FY25, sales volumes reached 245,182 MT, reflecting an outstanding 32.55 per cent year-on-year (YoY) increase.

According to the company, the growth is primarily driven by a surge in demand across key sectors, including infrastructure, water transportation, and solar energy.