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Hi-tech Pipes' Rs 600-crore QIP to open next week; funds to be used for doubling capacity

Money ControlMoney Control · 21d
Hi-tech Pipes' Rs 600-crore QIP to open next week; funds to be used for doubling capacity

- Hi-Tech Pipes plans to raise up to Rs 600 crore through a qualified institutional placement (QIP) to double its pipe manufacturing capacity. - The funds will be used to set up new plants and increase capacity from nearly a million tonnes to nearly 2 million metric tonnes per annum. - The QIP is expected to open in the coming week and has received a strong response during roadshows. - Hi-Tech Pipes is the third-largest pipe maker in India with marquee clients such as BHEL, SAIL, NTPC, and Adani Group. - The company aims to be debt-free by FY26 and has achieved record sales volumes in Q2FY25, driven by increased demand in infrastructure, water transportation, and solar energy sectors. - Shares of Hi-Tech Pipes have surged over 40 percent in the last three months, with one-year gains of over 125 percent.

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