Hariom Pipe Industries Limited has informed the Exchange about General Updates - Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 - Investment in Subsidiary Company.
HARIOMPIPE · price
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On the reaction day the stock moved 4.2 pts more than Nifty Microcap 250 and 3.8 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 Limited has invested Rs. 10,00,00,040 in its subsidiary Hariom Power and Energy Private Limited (HPEPL) by subscribing to 7,14,286 equity shares at Rs. 140 per share (including Rs. 130 premium). HPEPL, incorporated in March 2025, is developing a 60 MW solar power plant in Maharashtra under a long-term Power Purchase Agreement. Post-allotment, Hariom Pipe holds 78.70% in HPEPL. The transaction qualifies as a related party transaction but has been undertaken at arm's length with independent valuation. The investment aims to strengthen HPEPL's capital base for completing the renewable energy project.
This investment diversifies Hariom Pipe Industries into renewable energy, specifically solar power generation. While it signals business expansion beyond core pipes, the listed company itself remains unchanged with no direct impact on its stock. The investment is relatively small at ~Rs. 10 crore.