Hariom Pipe Industries Limited has informed the Exchange regarding Board meeting held on January 07, 2026.
HARIOMPIPE · price
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Awaiting price reaction for this filing.
The board of Hariom Pipe Industries, at its meeting on January 7, 2026, approved the incorporation of a new subsidiary named Metal Mart Private Limited, which will engage in the trading of metals and steel allied products. The company will subscribe to 70% of the share capital at face value, with the promoter group holding the remaining stake, making it a related party transaction. The proposed subsidiary is yet to be incorporated and will be set up in India, subject to applicable regulatory approvals, with incorporation expected within 10-20 days. The move is described as part of the company's strategy to expand its existing business. No turnover, revenue, or financial scale details for the new entity have been disclosed, as it is still in the process of being set up.
Marginally positive for shareholders as it signals business expansion into metal/steel trading through a majority-owned subsidiary. Since the new entity is small, related-party in nature, and being set up at face value, the immediate financial impact on Hariom Pipe is likely limited, but it provides a growth avenue going forward.