Hariom Pipe Industries IPO has opened today: Should you subscribe?

Based out of Hyderabad, Hariom Pipe Industries is an integrated manufacturer of steel products such as MS (mild steel) pipes, scaffolding, HR strips, MS billets, and sponge iron. Out of this, a significant portion of sponge iron, MS billets and HR strips are used by the company itself for manufacturing MS pipes and scaffolding. The company manufactures over 150 specifications of MS pipes and scaffoldings based on customer requirements, which are used in various sectors such as housing, automotive, infrastructure, agriculture, and many more. Its products are primarily sold in Southern and Western India under the brand name "Hariom Pipes" in two ways; through the 200 distributors and dealers that it has and directly to developers and contractors in the form of B2B sales. Hariom Pipe Industries has two manufacturing units located in Telangana (Unit 1) and Andhra Pradesh (Unit 2). In Unit 1, the company manufactures finished steel products while in Unit 2, it manufactures only sponge iron. To increase their operational efficiency and reduce dependence