Hariom Pipe Industries Board Approves Preferential Issue of Warrants and AOA Amendments
On May 21, 2026, the Board of Directors of Hariom Pipe Industries Limited met and approved several key business items, including the issue of warrants convertible into equity shares to promoter category members and amendments to the company's Articles of Association (AOA).The board meeting, which commenced at 2:00 pm (IST) and concluded at 2:45 pm (IST), considered and approved the following major business items:
1. Warrants Issue: Approval for the Issue of Warrants Convertible into Equity Shares to Persons belonging to the Promoter Category on a Preferential basis, subject to subsequent approval by the members.
2. AOA Alteration: Approval for the alteration of the Articles of Association (AOA) of the company, also pending members' approval.
3. Debt Conversion: Approval for the conversion of Company Debt into Equity or other Capital in the event of a Default.
4. EGM Notice: Notification of the Extra-Ordinary General Meeting (EGM) scheduled for Tuesday, June 16, 2026, at 12:30 pm, via Video Conferencing (VC)/Other Audio-Visual Means (OAVM) to approve the AOA alteration and other business.
Details of the Warrant Issue
The board approved the preferential issue of Warrants Convertible into Equity Shares. The details concerning this proposed issue are summarized below:| Parameter | Details |
|---|---|
| Total Warrants Proposed | Up to 15,00,000 (Fifteen Lakh Only) |
| Issue Price (Per Warrant) | Rs. 343/- (Rupees Three Hundred Forty-Three Only) |
| Aggregate Amount | Up to Rs. 51,45,00,000/- (Rupees Fifty One Crore Forty Five Lakh Only) |
| Payment Structure | 25% of the Issue Price payable at subscription; 75% payable at the time of allotment of Equity Shares upon exercise. |
| Tenure of Warrants | Up to 18 months from the date of allotment of share warrants. |
| Investor Category | Rupesh Kumar Gupta, Shailesh Kumar Gupta, Parul Gupta, and Isha Gupta. |
The issuance carries the caveat that each warrant holder has the right to subscribe to one Equity Share. The tenure of the convertible warrants is 18 months from the date of allotment, and they must be converted in one or more tranches.
Shareholding Impact (Assumption)
Assuming the full conversion of the 15,00,000 Warrants into 15,00,000 Equity Shares, the post-allotment shareholding is projected as follows:| Investor Name | Category | Pre Issue Holdings | Post Issue Holdings |
|---|---|---|---|
| Rupesh Kumar Gupta | Promoter | 44,73,847 | 50,93,847 |
| Shailesh Kumar Gupta | Promoter | 32,16,222 | 38,36,222 |
| Parul Gupta | Promoter Group | 9,05,968 | 10,35,968 |
| Isha Gupta | Promoter Group | 6,44,000 | 7,74,000 |
Amendments to Articles of Association (AOA)
The board also approved detailed amendments to the AOA, which involve inserting a new clause 4 (iii). This clause specifies that the provisions of the AOA shall not apply to the increase in subscribed capital caused by:- Conversion of debentures or loans into shares in the Company; or
- Subscription for shares in the Company, regardless of whether the option is conferred in the Articles or otherwise.
The company confirmed that the details regarding the board meeting outcomes and related documents are available on its website.
HARIOMPIPE Stock Price Movement
Today, Hariom Pipe Industries Limited shares rallied, settling at ₹340.00 after gaining 9.04% on the day. The stock saw significant investor interest, supported by a total traded volume of 403,767 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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