Hariom Pipe Industries IPO Basis of Allotment

Our Company was incorporated as Hari Om Concast And Steels Private Limited on June 21, 2007 under the Companies Act, 1956 with the Registrar of Companies, Hyderabad bearing Registration No. 054564. The name of our Company was changed to Hariom Pipe Industries Private Limited vide Special Resolution dated December 12, 2017. A Certificate of Incorporation consequent to name change was issued on December 27, 2017 by Registrar of Companies, Hyderabad. Subsequently, our Company was converted into to a public limited company and the name of our Company was changed to Hariom Pipe Industries Limited by a special resolution passed on January 08, 2018. A fresh Certificate of Incorporation consequent upon conversion was issued on January 17, 2018 by the Registrar of Companies, Hyderabad. For further details of our Company, see "General Information" and "History and Certain Other Corporate Matters" beginning on pages 55 and 149, respectively of the Prospectus dated April 7, 2022 ('Prospectus').

Our Company has filed the Prospectus dated April 7, 2022 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE") and BSE Limited ( "BSE') and trading is expected to commence on or about April 13, 2022.

INITIAL PUBLIC ISSUE OF UP TO 85,00.000 EQUITY SHARES OF FACE VALUE OF Rs. 10.00 EACH OF HARIOM PIPE INDUSTRIES LIMITED ("OUR COMPANY" OR "THE ISSUER") FOR CASH AT A PRICE OF Rs. 153 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 143 PER EQUITY SHARE) ("ISSUE PRICE") AGGREGATING UP TO Rs. 13,005 LAKHS ("THE ISSUE"). THE ISSUE WILL CONSTITUTE 33.36% OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY.

The Issue has been made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 30% of the Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"). Further, 5% of the QIB Portion was available for allocation on a proportionate bass to Mutual Funds only and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders including Mutual Funds, subject to valid Bids having been received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 35% of the Issue was available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35% of the Issue was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to vatic Bids having been received from them at or above the Issue Price. AJI potential Bidders were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts and UPI ID (in case of RIBs), if applicable, in which the corresponding Bid Amounts were blocked by the SCSBs or under the UPI Mechanism, as applicable. For details, see "issue Procedure" on page 288 of the Prospectus.

The Issue received 186210 application for 52089842 Equity Shares resulting in 6.13 times subscription. The details of the application received in the Issue from Retail Individual Investors, Non-Institutional Investors and QIBs are as under (before technical rejection):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on April 8, 2022.

The Board of our Directors of our Company at its meeting held on April 8, 2022 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation has been emailed or dispatched to the email ids and addresses of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Issue Account on April 8, 2022 and the payments to non-syndicate brokers have been issued on April 11, 2022. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on April 11, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from NSE and BSE. and trading is expected to commence on or about April 13, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Issue, BIGSHARE SERVICES PRIVATE LIMITED at www.bigshareonline.com.

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole Bidder, Serial number of the Bid cum Application form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

BIGSHARE SERVICES PRIVATE LIMITED

1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol. Andheri East, Mumbai - 400 059.

Tel. No.: +91 22 6263 8200; Email: ipo@bigshareonlme.com; Investor Grievance Email: investor@bigshareonline.com.

Website: www.bigshareonline.com; Contact Person: Ashish Bhope; SEBI Registration No.: INR000001385

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF HARIOM PIPE INDUSTRIES LIMITED.

HARIOM PIPE INDUSTRIES LIMITED has filed the Prospectus with the RoC and thereafter with Securities and Exchange Board of India ("SEBI") and the Stock Exchanges. The Prospectus s available on the website of the SEBI at www.sebi.gov.in as well as on the website of the book running lead manager. ITI Capital Limited at www.iticapital.in, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bsetndia.com, respectively. Any potential investor should note that investment in equity shares invokes a high degree of risk and for details relating to such risks, see "Risk Factors" on page 22 of the Prospectus. Potential investors should not rely on the DRHP for any investment decision.

The Equity Shares have not been and will not be registered under the U. S. Securities Act of 1933 (the "U. S. Securities Act") or any state securities laws in the United States, and unless so registered and may nut be offered or sold within the United Slates, except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the U S. Securities Act and applicable U S. state securities laws Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sates are made. There will be no public offering of the Equity Shares in the United States.