Hariom Pipe Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on May 21, 2026.
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 Limited's board approved issuing up to 15 lakh convertible warrants to promoter group members (Rupesh Kumar Gupta, Shailesh Kumar Gupta, Parul Gupta, Isha Gupta) at Rs. 343 per warrant, aggregating up to Rs. 51.45 crore. Each warrant is convertible into 1 equity share within 18 months. Only 25% of the issue price is payable upfront at subscription, with remaining 75% payable upon exercise. Post-conversion, promoter holding will increase from ~29.85% to ~33.08%. The board also approved altering the Articles of Association to allow debt-to-equity conversion and will seek shareholder approval at an Extra-Ordinary General Meeting on June 16, 2026.
Promoter holding dilution risk is limited since only 25% is paid upfront. However, potential equity dilution of up to 4.58% exists if all warrants are converted. The debt conversion clause adds a contingent risk of further dilution in case of default.