Hariom Pipe Industries Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
HARIOMPIPE · price
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On the reaction day the stock moved 8.6 pts more than Nifty Microcap 250 and 9.5 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Hariom Pipe Industries' Board has approved issuing up to 15 lakh Warrants Convertible into Equity Shares to promoter family members (Rupesh Kumar Gupta, Shailesh Kumar Gupta, Parul Gupta, Isha Gupta) at Rs. 343 per warrant, totaling up to Rs. 51.45 crore. The warrants have an 18-month tenure with 25% payable upfront and remaining 75% payable upon conversion. Post-conversion, promoter holding will increase from approximately 30% to 33%. The company also approved altering its AOA to permit debt-to-equity conversion in case of default, and an EGM has been scheduled for June 16, 2026 for shareholder approvals.
Existing shareholders will face dilution as the warrant conversion will increase total equity shares. Promoter holding will strengthen significantly, while the AOA amendment provides flexibility for handling debt obligations through equity conversion if needed.